27 Oct 4 Ways to Effeciently Spend Your Holiday Paid Media Budget
It’s almost time for the holidays, or as us media folks like to call it, “the fourth quarter.” For us this means increased prices as advertisers are looking to spend their budget before the end of the year. But just because it’s high-demand time for ad space doesn’t mean you have to spend lots of money on social media. Here are money-saving tips for social media buying during this expensive period.
Plan your Timing
Competition during the holiday season is at its peak as advertisers are competing in the same space. Avoid the pricy competition by advertising your non-holiday content before and after these times. As for holiday-focused content, make sure your content reflects your brand’s unique perspective or is purposeful so that it doesn’t get lost in the clutter. Posts that break through and perform well can make the higher costs pay off.
Capitalize on your Efficient Channels
Instead of buying on all channels, focus on the ones that have historically been cost effective for you. If you find that Facebook has brought in the most clicks at the lowest cost-per-click, place media there instead of trying to buy on a flashy channel that has brought few clicks at a higher cost-per-click.
Focus on the Efficient Ad Formats
Choosing the right ad format is just as important as selecting the right channel. During the non-holiday season, you may have found one format that resonates better than others with your audience. Use these findings for advertising during the competitive holiday season. For example, if you found that carousel posts have been more cost-efficient than link posts, use carousel posts for driving traffic to your website.
Focus on your Efficient Targets
Segmenting your audiences is always key to an efficient campaign, but it’s extra important during the holiday season. By creating multiple targets for one piece of content instead of grouping all of them into a single broad one, you’re able to pinpoint your most efficient audience. Optimize toward these high-performing targets instead of spending money on all of them.
Interested in more paid media best practices? Check out the Best Practices for Social Media Ad Spending on the Ignite Social Media blog!