Dec 15 3 Effective Ways to Spend the Rest of Your 2016 Media Budget
December is a busy time for us advertisers as we’re looking to spend budgets by the end of the year. This benefits us in a few ways. It’s important to (wisely) spend the entire budget to demonstrate that you need a similar budget in the coming year. It’s also a good opportunity to try some new things and get some learnings. Here are some ways you can spend your 2016 media budget wisely within in the few weeks left in the year.
Testing New Platforms
The end of the year is a great time for testing platforms as you may have already met your end of year goals and have additional budget to spend. By trying new platforms, you may uncover one that your audience is more engaged on or that proves to be more efficient on than your current platforms. This may help create a case for advertising or not advertising on the platforms in the new year.
Experimenting with Different Ad Formats
Having surplus budget toward the end of the year can also provide an opportunity to try new ad formats you were unable to use with your predetermined monthly budget. By trying out new ad formats you may find a format that garners more engagements or is more efficient than your current roster of ad formats.
Including Additional Targeting
A limited budget can mean limited targeting options for us advertisers. Luckily, end of the year budgets are the perfect time for testing different targeting options you were once limited to with your budget. With additional funds available, you’re able to increase the amount of targets per piece of content. This not only allows you to reach a wider audience but also may lead to more efficient ad buys, as you are able to discover and optimize toward better-performing targets.
Need help figuring out which targeting options to test with your end of the year budget? Check out the 3 Paid Media Targeting Options to Drive Sales on Facebook post on the Ignite Social Media blog.
Now that you know if ways to effectively spend your end of the year budget, what are your plans on spending your additional budget? Comment below!