How to ensure that you have an optimized strategy in place when investing in Paid media. Once the concept of Earned and Owned media strategies in your organization are complete this should be your next logical step.
It is up to you to figure out where you stand in terms of budget, is it necessary? why do you need it?how to plan for it? and finally, how to implement it?. I will help you out with the last part.
The truth of the matter is when you invest in paid media it could break or make your already established strategy. After investing so much time in other parts of content marketing strategies, this is the part of it where you actually invest a considerable sum of your organization’s revenue.
The Checklist :
- Space: What portion of real estate are you willing to allocate on your web page for advertisements.
- Relevancy: When it comes to paid media, you have to be careful about how relevant it is to your page. For example, you have a website for hikers. You need ads that are related to your content. So hiking places or instructors for hiking would be a relevant advertisement. Hiking gear offers would also do.
- Insights: The data generated from your earlier strategies of Owned and Earned media would help you in understanding your audience type and what you need to do in order for them to stay longer on your site.
- Type Of Ads: You have a wide variety to choose from, you have to figure out if display advertisements suit your content or text advertisements or both combined.
- Billboards: Would it be meaningful to have them. Space is limited and it is difficult to find a location with the target segment of your choice wherein you can have the billboards.
- Social media: Most of the platforms out there give you the options to promote your posts. You have to figure out on which platforms your audience engage the most and invest in promoting there.
Here is a video of some of the best billboard advertisements. The reason I chose billboards as an example is due to its limited space and whether it would make sense for your brand to invest in it now. As you can see it is not that easy to work with limited space and convey the right meaning to your audience.
The main thing to focus on: How relevant would any of the options listed above help your brand. You don’t have to invest in all of them. Only in the ones that resonate with your brand.
One more option that I would suggest is that you can hire a third-party for your Paid media strategy. It depends on the situation. If you have resources capable of managing it then good. If you lack in resources there are many firms out there which would do a great job.
You can also figure out in which department you would need outside help. You can hire people to write content, design banner advertisements, social media experts to promote your posts. It depends on factors and how you tweak your resources, budget to go forward with it.
Some companies do hire influencers to promote their efforts on social media. This is also known as influencer marketing. I consider this as a part of Paid media because you are paying an outside influencer to promote your brand on social media. A lot of planning is required because once implemented the value of the influencer and the brand are interlinked.
Do consider the above-mentioned bullet points to be a part of your checklist for planning your paid media strategy.