As there are a lot of different forms of the media buying channels and strategies, it can be an overwhelming task for business owners to handle on their own.
This is why agencies that specializes in media buying services can ease the process for your and ensure a higher rate of effectiveness or success of your campaign.
So whether you are to advertise on traditional or digital platforms, your agency can choose the best medium that’s best for you. Below are merely few of the many Benefits and Challenges of Media Buying agency can do for you.
Benefits of Media Buying
1. Get The Best Deal
Media Buyers have a wide range of networks and relationships which they can leverage to maximize your investments. Which means you can get more savings with better deals since media clout and media relationships stays with the media owners.
Media buyers and agencies have their eyes set in delivering efficiency on their client’s media budget. And since they do the same process over and over again for several other clients, they have an immense combined experience that ensures your ads are delivered as promised.
Media buyers understand which strategies to use for better conversions. And they have their experiences from previous campaigns in order to apply them and negotiate ad placements. And you can expect that they use plenty of loot and third party services that can help them deliver results more effectively.
Challenges of Media Buying
Just like any marketing initiative, investing in a media buying team means that these professionals need to demonstrate value. And to do this, media buying needs analytical capabilities that allow them to attribute conversions and the KPIs (Key Performance Indicator) back to your ads.
Note, KPIs are simply a measurable value that demonstrates how effective your company is achieving its key business objectives. Media buyers also need to access some real-time metrics in order to create an update to update the ads that are underperforming. The challenges when it comes to media buying are:
I. Marketing Measurement
When it comes to spending some media budget, it is important for media buyers to understand which campaigns that are working in order to better allocate budgets.
However, other companies struggle with applying a model that accurately represents your entire media mix. This can make it difficult to know when a certain ad placement has performed as desired, triggering some specific conversion.
II. Optimize Campaign In-Flight
Another challenge being faced by media buyers is when they optimize their ads in the middle of the campaign. Note that most marketing results aren’t available until after the campaigns so they need to closely monitor them in order to adjust the advertising spend.
But in order to rectify this situation, the media buyers must invest in marketing platforms that have the processing power to deliver insights on the ad performances while they are active.
III. Avoiding Ad Fraud
The digital platform and environment is the largest segment of the Advertising market. And so, it’s not a surprise when we come across ad fraud. Ad fraud is the practice of deliberately delivering ad impressions that the real person can’t see. Most ad fraud is generated by bots, software designed to perform automated and repetitive tasks online.
However, bots aren’t all bad. Take search engines for example, you can use bots to explore millions of pages and apps every day in order to understand what content they are offering. They use this information in order to perform better in searches.
There are some examples of how fraud is carried out. These ad scam tactics are just some examples:
1. Bots are secretly installed on consumer’s PC and provoke impressions that the users do not see.
2. Videos that are automatically that are either too few and even invisible on the page.
3. Software that emulates a lot of clicks every time a consumer makes a real click that overlaps with your reports.
Ad fraud Warning Signs
But of course, there are ways to detect ad fraud and cut it off before it makes too big of an impact. Knowledge is only half the battle, so you have to make sure to keep an eye out for the following:
Your viewability determines whether your ads were seen by actual humans. And while 100% viewability isn’t possible, it should be 40%-60%. If it’s any lower than that, that means there is a chance your traffic, visits, and click may be coming from fraudulent sources especially since the ads that couldn’t be seen by actual people.
High Click Through Rates
This isn’t always an indication of ad fraud, and it could be a piece of the puzzle. Just be sure to keep an eye on the time between clicks and conversion and it’s unusually quick and it could be a cause for suspicion.
Strange Traffic Sources
The good thing is that you are getting a lot of traffic from your latest campaigns. But the bad news is that they are outdated browsers and unpopular devices. There is traffic from unusual sources such as these can be fraud. So take a look at repeated visits and look for unique accounts.
Straying Too Far From Your Benchmarks
Do you know that your performance benchmarks (which you set) and if your campaign performances starts to stray too far from those. Be sure to set a goal on just how many clicks, CTR, page views and conversion that you want to achieve.
A Lot of Visits, But Little Added Revenue
If you are seeing a big spike in your visits. But no movement on revenue-driving conversions that could be getting fraudulent traffic. These warning signs, you have a great chance of safeguarding your campaigns but you can avoid them to get proactive with protecting your performance.
IV. Clear Contracts
Lastly, remember that contract negotiations are challenging. Media buyers need to ensure that everything is negotiated with the contracts that state the specifications clearly.
So if you are an advertiser that only wants leads in a specific region that must be stated clearly. If this step is overlooked, companies and businesses may waste money on a target audience that doesn’t fit.