The internet has brought a lot of advantages to humanity, but a recent phenomenon that has been shaking online businesses to their core and creating (and breaking) new business on the fly is the concept of media buying when it comes to promoting your products and services online.
Media buying is something we are very passionate about here at ANCHOVY., seeing as how it is a crucial part of our new complete “conversion beast” that is ConvRes™.
In today’s post, we are looking at the top 4 advantages of media buying in the digital marketing space, how we use it to get great results for our clients and also why you should consider looking at doing some media buying of your own.
We’ll also be sharing some “how-to tips” from our in-house media buying executive and the key metrics to keep an eye on.
What Is Media Buying?
Media buying is the process of buying up ad space online with the many available platforms that will allow you to do so (more on this later).
However, it can also come in other forms, such as buying sponsored posts, getting social media influencers involved and so on.
To keep it simple, let’s just explain “media buying” as the process of buying up ads online with the hopes of driving traffic to your site and securing a conversion.
The 4 Advantages Of Media Buying In Digital Marketing
It’s A “Fair” Price
A major advantage of doing media buying online is the fact that the price is “fair”.
First off, it’s not one single price for everybody; a lot of metrics come into play making sure that your bid price for a click is only high enough so that”
It beats the competition:
If the main bidding price from your competitor is €0.50c a click, all you have to do match is the €50.c or just a bit more.
It takes into consideration what competition you are up against:
Different niches online have different competition values. Which means that if you are targeting a low competition keyword such as “yoga shops in London”, this will be much cheaper than just targeting “yoga”.
Luckily, there are many keywords that will have a low competition value (even in a highly competitive niche). All it takes is doing some keyword research (which ANCHOVY. can help you with).
You Ad Quality Score will drive your cost lower:
A properly optimized ad will directly affect your cost per click when doing ad buying, which means that if your ad is performing well, your price will go down for you.
Even if your competition is bidding a higher price than you, technically you can still reserve the #1 spot (if we’re talking about media buying with Google Adwords).
Of course, a poorly optimized ad will drive your costs higher and you won’t be ranking well.
Highly Targeted Opportunities
Contrary to previous popular mediums of advertising (such as radio and TV), you can not make an accurate prediction of who your ad is / was shown to.
With media buying, however, you can create ads that can run very, very deep with the targeting available.
For instance, if you are using Facebook Ads, you can use the data that the user has on Facebook and create an ad for them.
Want to target a 26-year-old male who lives in London, likes going to football matches and is married?
That is the power of media buying and as you can see, you can really get creative with creating these type of ads. Also, it’s safe to assume that your budget will return the biggest ROI with media buying since you will be targeting the right people.
Your Metrics Are Trackable
Another awesome advantage is that we can track, to the exact number, how many times an ad is viewed, clicked on and even led to a conversion.
Again, this is contrary to the doing advertisements on radio and TV as you can’t exactly measure the impact your ads has on your consumer.
With media buying, we can see everything – and that is what makes it incredibly useful and fast…..
Speed In Implementation & Adjustments
Media buying is fast and easy to set up, (of course if you know what you are doing).
You can also edit, boost or minimize your budget “on the fly” thus making sure that you are in complete control of your ads, your spending per click, your budget and even your ROI on the ad investment.
With just a few minutes of planning, we can create highly targeted ads directed to highly targeted audiences and then adjust in real time the results and continue moving forward with the campaign.
“This is an advantage that only digital media buying can bring.”
Platforms To Consider When Doing Media Buying
There is actually a lot of places where you can test out media buying.
Our favorites here at ANCHOVY. would be the main two ones which are Facebook Ads & also the Google Search & Display Network that run through the Google Adwords platform.
We’ve also launched campaigns using these other services and platforms that you may also be interested in:
- Instagram Ads (through Facebook)
- Pinterest Ads
- Twitter Ads
- LinkedIn Ads
- Social media influencers
- Sponsored posts on popular websites and blogs.
Some Tips To Remember With Media Buying
These were our top 4 advantages of media buying but obviously:
“Media buying is not the cure-all button for your business and sales.”
To close this article off, we’ve consulted with our in-house media buying expert here at ANCHOVY. and she shared with us her best tips on getting started with media buying.
- Have a Sizeable Budget
Is your media budget in line with your goals?
This means that you have to keep in mind that although media buying is relatively cheap, it still requires some funds. For instance; are you trying to get 1000 new customers a month but only have €50 budget to spend?
This scenario would likely see your campaign fail and obviously, you not reaching your results.
Thus it’s very important to first set your goals, and then set the budget needed for those goals.
Obviously, when first getting started, you wouldn’t have much to go on but as we said already, media buying does allow you to make changes on the fly so you’ll soon be able to track and analyze how much you’re spending for what results.
- Know Where (& Who) To Target
You need to know where to target your ads thus making sure you hit the right audience for the least amount of money possible.
For instance, keeping with the “yoga” example, if you want to target the keyword “yoga” for a whole country, it will cost a certain amount but targeting the same keywords with a 10-mile radius only around your location would mean better results and lower costs.
Definitely something to keep in mind.
- Is Your Market Competitive
Again; this is where we bring up the topic of competition. Unfortunately, certain niches are more competitive than others so it’s a must you take into consideration this particular factor.
As we said already in this article, you can outrank your competition with a lesser bid but that would require your ad to be the best it can be.
As a certified Google Partners member certified in media buying, ANCHOVY. is the leading digital marketing agency that can help you create the best ads possible.
- What Are Your Expectations?
This ties in with your goals. What are your expectations?
- Do you want to increase revenue?
- Do you want to drive people to your website to fill out a form?
- Do you want more engagement on your social profiles?
- Do you want an increase in brand awareness online?
These are all different things you have to take into consideration.
- Know Which Media Buying Platform To Use
Another reason people sometimes fail with media buying and never get to experience the full benefits of it is because they simply do not know what type of ads go where.
For example, if you are targeting “professionals” in a B2B environment, you need to be on LinkedIn Ads and not (for example) Instagram.
Sure LinkedIn ads may cost you a bit more but you’re much more likely to get the result you’re after with picking the right platform to target to the right people.
Hiring A Digital Marketing Agency To Run Your Media Buying
ANCHOVY. is an award-winning digital agency and a certified Google Partners when it comes to media buying.
We can help determine:
- Your best option on where to advertise,
- How to get the lowest cost per click when buying media online,
- How to increase your conversion rate,
- What people to target that will best fit your product,
- and so much more.
We suggest you take a look at our case study page and see the work we did for international brands such as Costa Coffee, Lufthansa, J/Boats, Briiz and others (see our Medium Publication for more case studies).
You can also get in touch with one of our media buying professionals by requesting a no-obligation meeting to discuss your business and your goals by visiting our contact page.
We hope you enjoy this post about the advantages of media buying. Feel free to leave any questions you may have down below in the comment section.