Did you fail to score good ad space because of insufficient funds? Here is what you need to know.
Every business wants to reach their target audience at the right time and with the right message. Therefore, the battle for the best ad space goes on. Indeed, all things worth having come at a hefty price and ad spaces aren’t an exception. The hunt for the right ad space is challenging, but if you know some tips and tricks, you can end up saving a lot of money. In today’s time, digital ad spaces are quickly replacing their conventional predecessors. Many retailers sell their digital spaces to third party advertisers to make a sufficient amount of money. Hence, you should also use this space to advertise your service or product.
Use Digital Place-Based Media
Digital place-based media opens you up to local as well as global audiences. They also provide you with a good return on investment, which is considerably higher than what you get when you run your ads on TV. It helps you target consumers in a way that compels them to buy from you.
It is up to you whether you want to buy ad spaces on an hourly basis, or through impressions. However, you must remember that the rates for ad spaces during peak hours will be much higher. Furthermore, the peak hour can come several times during the day. Two of the most crucial peak hours are when people go to work and when they return home. During the peak hours, the best place to run your ads would be at the gas station.
If you run a small business which is still in its embryonic stage, you should target the local market. You should seek help from local advertisers instead of national ones. Try leveraging ad time along with digital signage networks.
It sounds a little counter-intuitive, but initially, you shouldn’t focus too much on cost. Instead, you should focus on the performance of the ad space. Try to determine whether or not it is worth buying time on a particular network.
Lastly, staying within your niche can help you save money. For example, if you operate in a B2B manner, a network that only shows business-related ads may just come in handy.
Track the Effectiveness of Ads
When using Digital Place-Based Media, you should track the effectiveness of the ads you run. Be very careful in choosing the content and its placement. If the content and placement tarnish your brand in some way, change things up.
When investing in ads, the last thing you should do is act impulsively. Instead, your ads should be backed by a concrete content management system. The amount you pay for the ad space should justify the number of people who watch your advertisement. Your CMS should have an in-built feature for you to pay for ads. The software should accept electronic delivery of advertisements while integrating them into your playlist.
Place Your Ads Where there is Considerable Foot Traffic
Always try to get ad space in an area where there is considerable foot traffic. For instance, if you are the vendor at a supermarket or a bakery, you can run your ads on the screen right behind the counter. This way, your ad will be visible to all the customers. This will also fetch you some valuable ROI while increasing your sales. This can even allow you to market less popular products or products that are relatively new.
Remember these tips to score the best ad space with the least resources.