When developing a digital media plan, focus on your brand’s key objectives, such as direct response marketing techniques to increase share of voice and engagement. Direct Response marketing techniques are based around achieving a very specific, immediate response online (DR). The best direct response marketing techniques have a clear, defined online action that they are optimizing for (i.e. a purchase, coupon download, e-newsletter sign up, white paper download, app install, etc.). If your objective is to drive sales (or any specific response) online, a DR campaign may be the solution. In order to have an effective digital media and marketing campaign, it is imperative that your brand awareness be at a point where consumers are ready to make a purchase decision—they may just need a reminder to tip the scales in your favor.
Digital Media and Marketing: Programmatic Buying Platform
There are two main pricing models: CPA (Cost Per Action) and Dynamic CPM (Cost Per Thousand), today we’re going to discuss the latter.
Dynamic CPM involves purchasing media very efficiently and optimizing aggressively towards your brand objectives. The best-performing DR campaigns involve buying media on a Dynamic CPM through a programmatic buying platform. Algorithms assess the billions of impressions available at any given moment, and the decision to bid is based on the ones most likely to convert. The more data available, the more optimized the campaign will become. It takes weeks for a campaign, on a programmatic buying platform, to normalize based on getting statistically significant data for each individual data point and optimizing accordingly. Most campaigns take an average of 4 weeks to ramp up. The best practice is to run for 8 weeks or more to get to scalable results, with the most effective campaigns running consistently throughout the year. Similar to other digital media and marketing executions, the programmatic buying platform is most effective when analyzed and optimized for key results.
Among the main variables that impact conversion rate are: the amount of time the campaign has been live, the volume of impressions the campaign has received on a daily basis, flight dates, time of year, creative messaging and frequency capping.
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