Advertisers are always looking for the best way to get their brand message across, but it can be challenging to stand out from the competition. One of the reasons for this is that buying digital advertising is difficult due to the number of consumers immersed in so many media types. However, digital advertising remains one of the best channels for businesses to use.
Global digital ad spend is anticipated to exceed $375 billion in 2021, making it one of the most critical opportunities for advertisers to use if they don't want to miss out on this growing market. At the same time, you may be asking, "How do I buy digital advertising?"
Want to learn more about digital ad buys? The following are some things to consider when buying digital advertising, including the goals you should set and what to expect throughout the ad buying process.
What is digital ad buying?
Simply put, digital ad buying entails purchasing ad placements on websites, social media platforms, and apps, along with other digital platforms. Media companies can help plan and buy digital ads that expose a brand to a target audience who will be interested in your brand's offerings. With a media company working alongside you, you don't need to worry about inefficient campaigns or inadequate planning that might otherwise waste your digital ad spend.
If you want to get the best possible results from your digital advertising campaigns, you're better off working with a company experienced in this area.
What are the objectives of digital ad buys?
When buying digital ads, the general goal is to get your ad creative in front of your target audience. However, the specific goal you have in mind behind each campaign can differ. Based on the specific goals you set for your campaigns, there will be corresponding key performance indicators (KPIs) that you'll want to look at when measuring success.
For example, one ad campaign's driving goal may be to increase brand awareness instead of driving sales. Introducing people to your company may be the primary purpose here. In these cases, one way you can measure the success of your digital marketing campaigns is by looking at ad impressions, which are the number of times ads appeared in front of consumers regardless of engagement. Another goal you might set could be to gain traffic to your website or a specific webpage, in which case metrics to look at would be click-through rates and page views.
Knowing what you want to achieve with your digital ads is the key to gauging their performance. Otherwise, you'll be going into your campaigns without sufficient planning.
What is the digital ad buying process?
There are several steps involved when buying digital advertising that marketers will need to follow.
Develop a clear strategy
Before you can engage in digital ad buys, you need to have a good plan in place. Developing your strategy will entail setting attainable, specific goals, and determining how to approach your ad creative and placement based on those goals.
Identify the best media outlets
With your strategy in place, you can begin choosing the best placements for your ads, including the ideal media outlets. Depending on where your audiences spend their time, you may want to advertise on social media, online streaming services, or through Google display ads, among other opportunities.
Negotiate and buy
Once you've decided where to place your ads, you will need to begin negotiating and buying those ads. This will consist of communications with publishers and bidding for ad placements based on your available budget. Working with a media company can help with negotiations and securing the best ad placements.
Launch your campaign
The next step is to launch your campaigns and begin measuring the results. Try to stick to a strict schedule and make sure you know what to track once you've launched your ads.
Track and optimize results
By tracking the right KPIs and metrics for your goals, you can gauge their success and measure overall ROI. Depending on the results, you can optimize your campaigns if they're underperforming or try to find more lucrative ad opportunities.
What are some of the challenges with digital ad buying?
If you're new to the ad buying process, there are some challenges you may face when going it on your own, including:
- You may be unsure how to approach the creative process when developing your ads.
- Your campaigns may suffer from inadequate planning before launching.
- It can be challenging to identify the best outlets and platforms.
- Negotiating and ad buying may not go as smoothly.
- Tracking and measuring the results of your campaigns may be less efficient.
With an experienced media company beside you, you can get the most from an integrated marketing campaign with assistance from ad creation to campaign launch. You'll be able to optimize your digital ad buys and streamline your marketing efforts to yield the best results.