How Much Are Your Media Buys Wasting?
Media buys are the bread-and-butter of any marketing campaign. The goal of any buyer is to maximize impressions and generate leads, all while minimizing waste. It’s a tough line to walk!
“Ad waste” is a growing term within the industry thanks in large part to the proliferation of digital marketing. Consumers are exposed to more screens, more messaging, and more content than at any point in history, but not everything’s getting through.
How do ads waste money?
- By aiming for a broad but untargeted audience
- Appealing to customers who aren’t ready or available to purchase
- Missing opportunities for point-of-sale purchases
- Fail to deliver ad content that initiates engagement
There are, of course, dozens of other ways media buys inadvertently waste money. The bottom line is, though, that the more targeted the audience of an ad, the more likely consumers are to convert. It really is that simple! Thankfully, technology has made it easier to target consumers than ever before.
Targeting Customers with Your Media Buy
There’s an art to correctly targeting an audience and then tailoring the specific content you serve them. Today’s consumer is savvy; they know when they’re being marketed to (hint: it’s always) but they don’t typically mind as long as the marketing message they receive is a useful one.
Place-based targeting is one of the easiest ways to reach a specific segment of customers. For example, the smoothie bar at a local gym might employ a digital tabletop caddy from Media Caddy streaming infotainment based around healthy living, health-related news, and nutritional products. The audience is highly targeted, ready to purchase, and dwelling in place. In many cases, hyper-targeted, relatively low-impression ad spend is often some of the most productive for marketers.
Capturing the Captive Audience
Another way advertisers can milk their ad spend is to consistently target the same audience over and over again. Consider, for example, a campaign for a local ride-share company that advertises at the bus stop, on a bartop digital TV caddy, and at area mechanics. Location-based targeting through various mediums is instrumental for branding and increasing brand recall. Although mobile, a local customer is their own kind of captive audience.
On a more micro scale, consider ad spend for locations that have high “dwell” times. There are very few opportunities left for marketers to capture a customer’s attention when it’s not being pulled at by thousands of other ads, smartphones, or second-screens. Restaurants and bars actually offer very high dwell times, as do hair salons, doctor’s offices, and other locations where patrons physically sit and wait for a service.
The Secret to Saving Money on Ads
It’s not what you think. Saving money on ad spend isn’t about spending less, it’s about spending smarter. 100,000 eyes on your ad are good, yes, but what’s even better than that are 10,000 eyes that actually have the potential to buy. Reaching the consumer when they’re already a “warm lead” is the holy grail of digital out-of-home marketing.
Media Caddy offers a host of people-centric advertising solutions as innovative as they are engaging. Tabletop digital caddies, bartop caddies, and more…our technology is loved by restauranteurs and marketers alike.
Whether you’re a local business, a national chain, or a restaurant owner looking for an in-house advertising solution, Media Caddy has the answer. Contact our team today to talk about how cost-effective highly-targeted marketing really is.
Reach out to us today to find out more.