Media Buys (buying packages of ad space) can be a great way to help grow your business. Finding the right place to advertise will open up a large audience that might be receptive to your current marketing efforts.
There is, however, a right way and a wrong way to do it. These six tips will put you on the right track to getting the greatest return on all your media buys.
#1: Budget It
Media buys can be a great addition to your marketing strategy, but they can also be a great way to empty your bank account.
To avoid spending too much money, it’s vitally important that you set a budget for media buying and stick to it. Once you go over budget you’ll be cutting into your profits. I suggest starting small, finding out what works, and then incrementally increasing your ad budget.
#2: Shop Around
It’s never a good idea to purchase the first thing you find. When it comes to media buys, the cost of the buy isn’t always related to the quality of the audience.
While it might be tempting to spend a lot to advertise on a well-known website, you might be able to find cheaper options that are just as effective.
It’s important to keep the goals of your campaign in mind when looking for media to buy. Different websites will have different types of visitors.
If you’re focused on gathering leads, then one site might be a better option than another. If sales are your goal, then you’ll need to find a website full of real customers.
#4: Test It
Every campaign is different. The only way to really tell which media buy offered the best return is to constantly test different campaigns. Instead of just running one campaign and hoping for the best, diversify your marketing efforts.
When the campaigns are over, you’ll be able to run a few numbers and find out which one brought you the highest return.
#5: Cost Per Lead
You need to have a method of determining the most valuable media buys, and focusing on your cost per lead is a great way to do this. Traffic is always nice, but if it doesn’t convert into leads or sales then it’s only wasting your time and money. The cost per lead can be determined by taking the price of the media buy and dividing it by the number of leads or sales. Needless to say, anything with a negative ROI should probably be thrown out.
#6: Get Creative
At the end of the day, media buying is just advertising. Once you’ve purchased it, you’ll need something eye catching, inventive, and enticing to use it for.
Make sure you leave room in your budget for creativity. Hiring designers, writers, and even musicians can really boost the effectiveness of all your marketing. Don’t fall into the trap of neglecting to budget for creative design.
The real secret to effective media buying can be found in planning and analysis. It can be tempting to just jump right in and start buying anything you can find. To get the most out of it, however, you need to know what you’re doing. If all of this sounds just a bit too complicated you can get immediate access to our traffic-generation team that will get qualified leads for you here.
Bing Ads is an advertising platform used to display ads on the Bing network including bing.com, yahoo.com, and aol.com. Smaller affiliates like duckduckgo.com and slickdeals.net also fall under this umbrella.
Ads show up on Bing when a visitor searches just as they would on any other search engine. The top and sides of the page are premium real estate, and you want to be sure people notice you first by making your ads relevant.
How Bing Advertising Works
Bing shows ads relevant to a visitor’s search based on the terms used. Searching for “hardware store Kansas City” will return ads for hardware stores in Kansas City. Yes, that’s quite obvious. However, you may not know that whenever someone conducts a search, Bing gives ad placement to the highest bidder. Just because you have an ad on Bing, doesn’t mean people will see it.
Bing makes money off of the ads businesses place, so if you outbid your competition, your ad is more likely to appear. However, Bing only gets paid when someone clicks an ad. That’s because you only pay Bing when someone clicks on your ad.
This is why relevancy matters. If you operate a hardware store in Dallas, your ad will never appear using the search terms above no matter how much you bid, because no one would ever click on it. They need hardware stores in Kansas City, not Dallas. Showing irrelevant ads profits no one.
On your end of the ad, make sure when a visitor clicks your ad, it sends them where they expect to go. If your ad promotes drills, send the clicker to the drill page of your hardware store website, not the page with pipe fittings.
Advantages of Bing
Bing has a host of advantages that are similar to other search engines. Using proper keywords, you get your business in front of people when they need it, increasing your conversion rate. You only pay if your ad works, so you don’t spend money on useless advertising, and you’re less likely to exceed your budget by placing bids for the maximum you’re willing to pay.
You can also track your engagements on a dashboard, showing you how many people saw your ad, how many times they clicked, and how much you paid for each click, giving you the ability to segment your future ads based on what worked and what didn’t.
While Bing doesn’t have the same volume as Google, this proves to be beneficial. Fewer businesses advertise on Bing, meaning less competition for you, better ad positioning, lower cost per click, and higher quality conversions.
Cost of Bing
A pay per click model determines how much advertisers pay for ads. You only pay when someone clicks your ad, but how much you pay depends on how much you bid. You pay different amounts based on keywords. Niche keywords in small communities can cost less than $0.20 while popular keywords in big markets cost more than $20.
Bing’s keyword planner suggests bids for your ads, so you have an idea of how much you need to bid for your ad to appear in someone’s search terms. You choose how much you are willing to pay based on how much you stand to profit from acquiring conversions. $20 is worthwhile if a new customer means $500 or more to your business.
Factors to Consider
Switching to Bing from Google doesn’t mean you’ll lose your previous campaigns. When you sign up for a Bing account, you have the option to import these from Google AdWords. You can then use them to run similar campaigns and benchmark which service is better for your business.
Diligent keyword research tells you which terms have high volumes and low competition. Bid on keywords with purchasing intent. If someone searches for “best toilets to buy,” it’s likely they plan to buy one soon. If they search for “best toilet repair near me,” you don’t want your hardware store ad to appear. That is unless you also offer toilet repair services.
After selecting targeted keywords based on your product, service, or location, you can also choose your match type. This allows you to select how closely you want your keyword to match the user’s search when your ad appears. Broad matches will look for searches containing synonyms of your keyword, whereas exact matches will only show up when someone searches for that exact keyword or phrase. Broad matches have the potential to appear on searches that aren’t relevant to your business, so you may have to narrow your match type over time after some careful study.
After several months, you should review and optimize your ad to improve future results. You have visibility to keyword impressions so you can refine and change as needed. Remember to remove negative keywords from your campaign.
Bing has a variety of targeting options you can use after you evaluate your initial campaign. You can run A/B tests, increase your visibility on weekends where you see more traffic, and bid higher on demographics like age or gender.