Keys to Building an Effective Media Buying Strategy in 2022
. Media buyers will face both challenges and opportunities in 2022.
To secure your investment and maximize your ROI, you must have a clear, well-defined media buying strategy that considers today’s digital marketing trends.
In that spirit, we’d like to share our top tips for becoming a successful affiliate media buyer in 2022.
Enjoy!
Media Buying Key #1: Draw Up a Solid Media Plan
This rule of thumb isn’t particularly novel. Right?
Creating a data-driven media plan has always been the first step in any successful media buying campaign.
But, as you’ve probably noticed, the pandemic has had a significant impact on the game.
What has changed is the mindset you must adopt to carry out your plan.
Allow us to explain why:
COVID-19 lockdowns and restrictions have fueled significant transformations in the digital consumer world. It has increased screen time, increased ad exposure, and decreased attention.
Furthermore, the average American household now has 25 connected devices, making multiscreen advertising the new norm for all major players.
That explains why brand loyalty is declining and why the best digital marketing trends experiences will triumph in 2022. (and beyond).
For media buyers, this equates to a better understanding of our customer personas by incorporating broader insights such as interests, purchasing habits, device/platform preferences, and lifestyle characteristics.
You’ll be able to deliver highly personalized experiences that capture your target audience’s attention by mapping all of your customer touchpoints and connecting audience insights with creative content ideas.
The transition from individual data to audience interest data, from qualified users to qualified impressions, is, in fact, a transition.
Cookies’ uncertain future poses measurement and attribution challenges. Nonetheless, innovative solutions, such as attention-based metrics and contextual targeting, are being deployed to use data for strategic decisions effectively.
Media Buying Key #2: Find the Right Niche
Before you begin drafting your strategy, consider this: the better you understand your traffic, the easier it will be to determine which offers to prioritize.
One piece of advice that our experienced in-house media buying team believes is essential to share:
Concentrate your efforts on an underserved market.
This is primarily how we grew from a small internet advertising agencies in india to a global CPA network.
Purchasing bundles of traffic in small goes that no one wanted, monetizing it efficiently through Ad Networks, and creating customized, micro-targeted user experiences.
Ad Networks will cost you more than direct deals with webmasters, but they are still one of the best ways to ensure quality traffic while saving a lot of time.
Otherwise, you’d have to contact dozens, if not hundreds, of websites and hope that they’ll agree to sell you a small percentage of the traffic you’re after.
Developing your creatives based on your traffic’s local culture, slang, and cultural references is an excellent example of a micro-targeting strategy.
Take, for example, Canada’s French-speaking population, which has its own set of slang, expressions, swear words, and a distinct Quebecker accent.
One winning strategy would be to take a generic product (for example, dating) and tailor the creatives and messaging to a very specific target.
As a result, Meet hot singles tonight is renamed Fourre des Québécoises (slang for hook up with Quebec girls).
Using Ad Networks to target the right niche allows you to capture underutilized traffic at a low cost and achieve high performance with micro-targeted messages and creatives.
Remember that the riches are hidden in the nooks and crannies.
Knowing your target audience as a close friend will help you strike gold!
Media Buying Key #3: Cherish First-Party Data
Data privacy is becoming increasingly regulated, which impacts audience intelligence.
Despite GDPR and CCPA regulations, first-party data is becoming an undeniable asset in overcoming third-party cookie disappearance compliance challenges by 2023.
Everything you know about your target audience is considered first-party data (location, age, email, interests, devices, etc.).
The best first-party data sources include:
- Website activity (analytics)
- Newsletter sign-ups & metrics
- Content consumption
- Social media activity
- Survey responses
- Purchase history
Uploading a list of prospective customers as audience segments on platforms like Snapchat and Facebook is one way to use first-party data.
This allows you to exclude current customers from targeted ads while retargeting newsletter subscribers and unconverted customers with customized messages and creatives at the bottom of your funnel.
Of course, obtaining your target audience’s permission to collect their data is essential.
As a result, you must be very clear about what data you want to collect, why and how you intend to use it and provide a simple opt-out option.
Consider Neil Patel, who has a separate opt-out page on his website for unsubscribers. He also includes a clear, detailed privacy policy that explains what, why, and how.
We don’t know when cookies will be phased out, but first-party data will be your holy grail when the time comes.
Media Buying Key #4: Nurture Relationships
We cannot emphasize this enough, particularly for affiliate media buyers: surround yourself.
Join media purchasing communities on affiliate marketing forums such as affLIFT and STM Forum.
Adult communities can be found at GFY, XBIZ, and YNOT.
Join our Reddit community as well, where you can ask professional affiliates questions and stay up to date on the latest business opportunities.
Aside from communities, it is critical to maintaining positive relationships with your traffic source(s) and Affiliate Manager. It is well known among the best media buyers.
Preparing a regular chat with your representatives will highlight your eagerness to succeed. It will also provide you with access to gold nuggets that aren’t directly accessible on the ad network’s platform.
If you want to find the premium bottles on the bar’s top shelf, become the bartender’s best friend.
Finally, affiliate marketing events are now partially or entirely virtual, making them much more accessible to all.
The virtual tradeshow formula is very effective. It will almost certainly continue in the coming years, which is great news for new affiliates or anyone who cannot afford the costs of such a trip.
The best insights and ideas are no longer reserved for the elite!
Media Buying Key #5: Take the Compliance Route
For the better, the Wild West era has come to an end.
Feeling the real pressure of the digital world’s ever-increasing complexity, we must address and resolve compliance issues collaboratively to ensure the vibrant longevity of our industry.
Mastercard and Google were the first to make significant moves. They established clearer boundaries between permitted and prohibited content on all sites involved.
We want to pave the way for better practices and avoid any negative situations that could jeopardize our partnerships’ efficiency.
We invite you to speak with our dedicated Affiliate Management team for compliance assessment and guidance.
Media Buying Key #6: Innovate
When the winds of change blow, the foolish construct walls, while the wise construct windmills.
Interact with your audience by utilizing a variety of tactics that correspond to each stage of the customer’s journey.
Collect data on your target audience through these interactions. Then, fine-tune your campaign and customize your messaging with creative and eye-catching ideas.
Using a tracking and targeting tool may appear costly at first, but you will quickly realize that the benefits far outweigh the costs.
Depending on your budget, there are numerous solutions available, with Voluum being the most popular tool among media buyers due to its flexibility.
Find the right balance of creativity and data-driven optimization by focusing on a specific niche.
Whatever you require. Simply inquire!
