We get it. Marketing and Media budgets are tight. And with that, there is enormous pressure to spend every dollar as wisely as possible. Finding the “perfect” recipe for ad spend is no easy task, but you can feel confident in making the most of the budget you have to work with if you consider these media planning and buying tips:
Most of us have experienced the death of a favorite show at some point in our lives, and most of the time it’s due to network cancellations. The harsh reality is that no matter how much we love our shows, advertising dollars are needed to keep them on air.
How do advertisers decide whether or not to spend their dollars (and how much) during a particular program? If you’re in the business, you already know the answer: Ratings. Just as swiftly as they can make or break our favorite shows, they can determine the structure of an advertiser’s marketing and media schedule as well.
Despite the irrefutable magnification of digital media in recent years, most big brands are still in the end-game of discovering their most lucrative media mix. And since relying solely on digital is not in the cards for many B-to-C and B-to-B brands, that mix often includes TV. In fact, TV is still devotedly sought after in the advertising world. The problem for many brands is that although they want to see their commercials air on national television, they just don’t have the budget.
The good news is that television media buying (even at the national level) is not an “all or nothing” endeavor…
Digital, mobile, and social have all quickly become the hottest advertising platforms in today’s world. Digital marketing agencies are now a dime a dozen, and those exclusively digital media professionals are some of the highest paid in the industry. In addition, many existing national agencies have hired specific digital media executives to supplement their successful traditional expertise and help brands navigate the radically changing landscape.
Let’s face it: Digital marketing isn’t going anywhere. In fact, there is substantial research to support up to 40% growth in digital advertising revenue by 2015. So how do you, as a brand marketing professional, keep up with it all? The fact is that with so many sub-platforms and intricacies involved, it’s impossible to become a digital media expert overnight. What you can do is start small, become familiar with general terms and principles, and use that knowledge to either choose an agency that is the best possible fit for your brand, or challenge your existing agency to ensure the highest ROI and get the most out of your digital advertising campaigns.
What is arguably the greatest part of digital (at least for marketers) is that it is 100% data driven. You can easily monitor the success rates of your ads and have the gratification of knowing what works from an attribution standpoint. So whether you are completely resistant to the digital world, are just getting your feet wet, or are ready to dive into it head first, here are some basic tips to help you enhance your digital marketing strategy.
Let’s face it: Nobody’s perfect. As marketing professionals, we like to think that we’re experts in our field and that we’re one step ahead of the changing landscape, but the truth is, human nature is to fall into routine and get comfortable. Pride can be a devastating roadblock that prevents us from correcting and fine-tuning our marketing presence. Sometimes it takes an outside nudge to rid ourselves of a bad habit, or make us aware we even have one in the first place.
The good news is, it’s never too late to shake a bad habit. No one can fault you for brushing up on basic best practices (which we all know can be clouded by an at times hectic and demanding career). Here are some examples of marketing mistakes which demonstrate that a little awareness sometimes goes a long way.