What exactly is a digital media buying strategy? Paying for advertising on digital platforms such as websites, social media, email, and others in order to raise brand recognition, enhance lead generation, and/or assist prospects in navigating your sales funnel is referred to as digital media buying.

What is its purpose? At its most basic, a media buying strategy is intended to generate leads. They are an excellent method to promote your brand or items in front of a giant, captive audience in your target market.

They are often employed as a top-of-funnel marketing activity to increase brand recognition, awareness, and contact acquisition. However, a digital media buying strategy may also be used to construct remarketing lists or to bring your goods and services in front of prospective decision-makers.

Who is it intended for? Organizations generally utilize media buying strategies to advertise their brand, goods, or services. The sky is the limit after that. Almost every sector can effectively use media buys to produce leads that convert into customers.

5 Ways to Improve Your Media Buying Strategy and Generate Qualified Leads

Now that we’ve covered the fundamentals let’s look at some of the methods you can use right now to create a successful media buying strategy.

1. Take a Walk Before You Run

This is a major media buying strategy. Buying media is a marathon, not a sprint. You don’t want to bite off more than you can chew if you’re new to the game. Depending on the sorts of media buys you make, there might be a significant amount of overhead necessary to get things started:

• You’ll need someone to supervise your media buying strategy, select the best approach, optimize placements on a constant basis, and communicate with media partners.
• You’ll almost certainly need creative and branding to complement any instructional materials you’re driving people to and any display or digital adverts. Keep in mind that if you include video, this might become a major bottleneck.
• You’ll also need a copywriter/content writer to assist you in producing content for your media purchase advertisements and emails.
• If emails are part of your media strategy, you’ll also need someone to assist you in writing them in HTML and optimize them for conversions using a mix of industry best practices and consistent testing.

What’s the bottom line? If you’re going to invest in media, make sure you have the personnel and resources to back it up.

2. Are You Always Closing? No, you should always be testing.

As previously said, testing is an important component of a good media buying strategy. Every single purchase, right down to the individual ad components, should be tested.

• You may test the creative, content, layout, and positioning of your logo, colors, picture style, and so on for display advertisements.
• For videos, experiment with text length, lifestyle vs. product-focused ads, plenty of action vs. a more static ad, when and where to use branding, and so on.
• Test your subject line, preheader content, graphics vs. no images, lengthy vs. short form copy, copy tone (FOMO vs. positive), and so on for emails.

Simply make sure you have a hypothesis and a rationale for the test. Nothing is worse than an exam that serves no purpose!

3. Do not overextend or overspend

Scaling what you currently have is a regular difficulty for media planning. You may spend a lot of time researching and building a good strategy, but unless you test, you won’t know how your audience will respond to your brand, content, and creativity.

Marketers frequently have the misconception that they need to make a buy for the entire year with a particular partner in order to achieve a better price, which is another usual challenge associated with media planning.

Sure, purchasing in bulk can save you 10-20%. But what happens if it stops working?

Always make an effort to organize your budget ahead of time. Go for it if you can test and optimize in smaller chunks. A $100,000 budget for a quarter will be far simpler to win approval from decision-makers in your firm than a $350,000 budget for the year (even if the latter does save money overall).

Concentrate on the present moment.

4. Understand Your Goals

Another typical mistake that marketers make is failing to define appropriate objectives or even any goals at all.

Your media buying strategy will fail if you aim to throw some ads on the metaphorical wall and see what sticks. Furthermore, if you optimize for the incorrect metrics depending on your objectives, you will fail.

If all you want is brand exposure and more eyes on your content and/or items, your success measure should make sense. Upper-funnel engagement metrics such as impressions, opens, and clicks should be measured; qualified leads, sales possibilities, and closed customers should not be measured here. Your campaigns will underperform, causing you to lose money.

If all you want is more people to see your brand and/or your content and/or things, then the way you assess your success should make perfect sense. Engagement metrics for the upper part of the funnel, such as impressions, opens, and clicks, should be measured. However, qualified leads, sales opportunities, and closed customers should not be measured at this stage. Your campaigns will not be successful, which will result in financial loss for you.

5. Be Prepared to Pivot

Finally, but most importantly, you must be adaptive. The rate of change in digital marketing might be daunting at times, but it’s critical to make space for pivoting in the moment. Your media buying strategy must cover this.

An adjustment to the algorithm or a platform switch could result in a big drop in the performance of lists that were before doing exceptionally well. There is a possibility that audience engagement could decline quickly, and the longer you promote with the same partner, the more list fatigue you will have.

You are required to evaluate and reevaluate your performance on a frequent basis. For this reason, it is essential to have a budget that is flexible and gives you the ability to make adjustments. 

The most effective media buyers are those that are proactive rather than reactive.

Featured Image-  Megapixl @ Stevanovicigor

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