How to ensure that you have an optimized strategy in place when investing in Paid media. Once your implementation of Earned and Owned media strategies are complete this should be your next logical step.
If you get the first two things right then paid media will be a cake walk. 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?.
The truth of the matter is when you invest in paid media it could break or make your already established strategy. This is because after investing so much time in other parts of content marketing strategies, this strategy gives you returns in terms of revenue.
The Checklist :
- Space: How much space on your web page you should dedicate to 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: From the data generated from your earlier strategies of Owned and Earned media you would be able to understand 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 of your target segment 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 because of 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 potential customers.
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 in this regard.
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. As mentioned earlier that it depends on the 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.
I urge you to consider the above-mentioned bullet points to be a part of your checklist for planning your paid media strategy.