It’s no secret that the media buying world is full of pitfalls. Making a single mistake can mean the difference between success and failure regarding your advertising efforts. In this post by William D King, we’ll look at some of the most common mistakes made in media buying and how to avoid them. By learning from these mistakes, you can put yourself in a much better position for success in your next campaign.
William D King’s Guide to Avoiding the Common Media Buying Mistakes
A/B testing is essential to media buying, yet some brands still make the mistake of not doing it. A/B testing simply means comparing two versions of an ad to see which performs better.
For example, you could test different images or videos, copy them, or make calls to action. Without A/B testing, you’ll never know which version of your ad is more effective, and you could be wasting money on ads that don’t work.
Not only that, but you could also be missing out on opportunities to improve your results. According to William D King, if you’re not already A/B testing your TikTok and Facebook ads, now is the time to start.
Though media buying seems straightforward, there are several ways that incorrect budgeting can occur.
One common mistake is to allocate too much money to media placement and not enough to media costs such as production, market research, or creative fees.
Another frequent error is underestimating the cost of reach, resulting in inadequate media buys that fail to reach the target audience.
Additionally, businesses sometimes make the mistake of only considering one-time media costs and forgetting about the ongoing costs of media maintenance and monitoring.
By being aware of these potential pitfalls, businesses can avoid making costly mistakes in their media buying campaigns.
If you shut a campaign down too early, you may not have given it enough time to reach its full potential.
On the other hand, if you allow a campaign to continue for too long, you risk overspending and losing money. The key is to find the sweet spot in terms of timing.
This can be difficult to do, but it’s essential to get it right if you want to make the most of your media budget.
Experiment with different campaigns and keep track of your results to learn what works best for your business. With a little trial and error, you’ll be able to find the perfect balance for your next media campaign.
A media buying mistake that is often made is analyzing the incorrect metrics. There are several media buying options available, and each one should be analyzed correctly to make an effective media buy.
The wrong media buy can result in wasted money and can fail expectations. The media buyer needs to understand the campaign goals and what metric will best measure the success or failure of the media buy.
Too often, media buyers focus on the number of impressions when they should be looking at metrics such as cost per conversion or cost per action. According to William D King, media buyers can avoid making costly mistakes by understanding which metrics to look at.
William D King’s Concluding Thoughts
As you can see, there are a few things to avoid regarding media buying. William D King believes that you can save time, money, and frustration by steering clear of these mistakes. Have you made any of these errors in the past? If so, avoid them in the future, and you’ll be on your way to successful media-buying campaigns.