Companies looking to generate leads while boosting sales often turn to paid media to achieve these goals. In fact, paid media can improve the return on investment. However, many business owners lack the knowledge and expertise to create media ads or make adjustments if the ads don’t perform as expected. For this reason, they often to an agency specializing in paid media management services for help. With the help of this agency, the company can increase revenue and improve brand awareness.
Media Options
Media comes in three basic types. Owned media is anything totally controlled by the business, such as its website and content on social media. Paid media is any media the company pays to promote in order to increase its exposure. This includes social media, display, and pay-per-click ads. Earned media is that media exposure that comes from word-of-mouth advertising. For instance, a viral video would be earned media.
What Does a Paid Media Management Agency Do?
A paid media management agency oversees campaigns to increase the client’s presence online. The company may create an ad or campaign and monitor its progress. They optimize the ads to improve their performance and create reports to keep the company informed about the ad or campaign results.
Managing Paid Media to Improve Return on Investment
An effective paid media strategy allows a company to boost its owned content while encouraging earned media. Bringing the different elements together allows the business to generate more leads. How can a company bring these elements together?
Set Goals
The first step in creating an effective paid media management plan is to set goals for these media. The company must know what it wants to accomplish with each campaign it creates. Without clear direction, the company could get lost in the process. When setting goals, ensure they are specific and measurable. Each goal must be attainable and relevant to be successful. In addition, the goal must be time-based.
Choose Metrics
Set metrics in relation to these goals. Each metric should track a key performance indicator to give the company a better understanding of the success of the campaign. Metrics that may be used include impressions, click-through rate, revenue, or conversion rate.
Determine Which Channels to Use
A company needs to consider the channels it currently uses and which ones provide the best results. This depends, in part, on the target audience, as various groups use different channels. When a campaign isn’t successful on one platform, it may be the platform that is the problem rather than the campaign. Options to consider include Facebook, Instagram, and Twitter.
Create and Monitor the Ads
Know the process for creating and setting up an ad for the selected platform. This will vary depending on the ad placement. Once the ad is completed, the monitoring process begins. A company must monitor each ad to see how it performs. That is done by collecting data and measuring user insights. These insights come from URLs, pixels, and cookies.
Measuring Campaign Performance
Next, the company must track the identified metrics to ensure the campaign is meeting the established goals. If it fails to do so, changes need to be made to optimize the ads.
If help is needed with any of these tasks, reach out to a paid media management provider. They are helpful during every step of the process. However, the key lies in setting goals. Without these goals, a company cannot know if an ad is meeting its objectives. Make this a priority to see great results quickly.
