Does Traditional Media Still Work? Yes, It Does!
Denver, Colorado – When it comes to making the most of your marketing dollars, few things are more effective than using smarter media buying to improve your company’s bottom line. However, for inexperienced business owners or Marketing Directors, achieving the same kind of discounts commonly awarded to established media buying agencies. Here are a few secrets you need to know before you start contacting agencies for quotes.
1. In Media, Everything is Negotiable
The first thing to know is that every media buy is negotiable in some way or another. If you have tried buying ads, only to find reps that tell you their media is sold out or they have no available inventory. This is almost never true (election season is about the only time inventory gets sold out). For that reason, you can always negotiate a better deal. Pick the two or three most important criteria, and be willing to compromise on the rest.
2. Supply and Demand Drives the Business
In few other markets does the classic economic theory of supply and demand find its embodiment than in media buying. For example, ads are going to cost more during election years, major sporting events like the Olympics or the Super Bowl. One thing to remember is that even if the top 2 or 3 stations are not affordable for running your ads, there are likely at least twenty others with plenty of inventory.
3. Value Added Bonuses are Rarely That
Too often, the role of negotiating media falls to inexperienced staffers straight out of college. These entry-levels and interns contact the station for a rate card and prepare price schedules for their clients. Rather than negotiating these prices, the staffer will usually just choose the best deal on the rate card and pass it on to his superior. But in order for the agency to prove their ‘win’ they press the station for value added bonuses. If they make a bigger deal about their bonuses than their media schedule, stay away.
4. Buy Ratings Instead of Programs
As a business owner, it can be easy to use your own bias when making decisions about your media placement. While you love the idea of seeing your ads during your favorite TV program, it may not be the most effective business move. Look for better deals in terms of ratings per dollar as they relate to your target demographic, as opposed to choosing ad slots based on your own personal interests. (Note: there are some unique differences between radio and television when it comes to buying ratings instead of programs, please ask us the differences)
5. Never Run Ads Without Tracking Data
Any time you spend money on media, you are making an investment in your future sales. If you are not tracking the performance of those ads, you have no way of knowing if your ads or buys are effective. Without this information, you could be wasting your money on mediums that do not work, month in and month out, when there are plenty of more effective and inexpensive methods just waiting to be found.
If you would like to talk to a smart adverting and media buying agency in Denver or Austin, contact us today and we’ll help you out.