With 2015 right around the corner, most brands are planning their advertising budgets for the new year. But before brands throw away big bucks on fraudulent views or wasteful agencies, it’s critical for companies to evaluate their advertising goals and make sure they’re getting the most for their money.
Unfortunately, there are several ways that brands waste ad dollars. For starters, there’s the old “spray and pray” advertising model, which relies on quantity over quality and often delivers ads to users who simply aren’t interested.
Many brands also waste ad spend with multiple third-party agencies that buy media from other networks, then up the price and lower the smoothness of delivery.
And finally, many brands are throwing money away by purchasing fraudulent impressions or clicks, which can be generated by automated scripts and bots without bringing any actual interest in the link.
One way to avoid wasting ad dollars in 2015 is to clearly define advertising goals and then work with an agency that not only understands those goals but can also help come up with streamlined, cost-effective solutions for meeting them, according to Ted Dhanik, chief executive (CEO) of engage:BDR.
“From the highest level, you might say, make sure you define your goals first and then plot your entire campaign or work with someone who will work backward to achieve those goals,” says Dhanik.
Here are some key factors to consider when choosing an agency to make sure you eliminate waste at all major opportunities:
Look for a company with capabilities in display and video on all types of devices, such as mobile, tablet, and desktop. It’s important to choose a company that has experience moving content seamlessly across channels and devices to best optimize overall spend.
It’s best to work with a company that buys directly from a wide network of publishers to ensure cost efficiency and smooth delivery of content. Additionally, using a company that buys direct from publishers makes it easier to negotiate high-impact, custom units.
Buy from companies that sell on viewable impressions and allow buyers to customize what minimum threshold counts as viewable. These controls guard against fraudulent impressions as well as inventory that loads but doesn’t get seen.
Many brands have limited access to customer data and buy based on content rather than audience targeting. Choosing a company that pairs the right users with the right content ensures that ads get seen and generate action.
The main thing that brands can do to maximize ad spend, according to Dhanik, is to cut down on waste.
“Once you’ve clearly defined success for your campaign, eliminate waste at every step along the way, so you can maximize your return on investment (ROI),” Dhanik says. “Whether your goals are based on sales or engagement, you need to really understand what moves the needle toward success, and all of these factors can help get the most return on every dollar that you spend.”
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