5 mistakes that waste media budget and how to solve each one
Posted: Sun Dec 22, 2024 7:09 am
Investing in paid media is essential for most marketing strategies, however, it is not enough to create campaigns to attract more leads if there is no guarantee that your investments are being used correctly.
According to the Global Entertainment and Media Survey 2022-2026, published by PwC Brasil, digital advertising in Brazil should be equal to traditional advertising and this means that it has managed to connect more and more brands and people.
However, many businesses still make mistakes that can jeopardize their entire investment and, worse, waste part of the money. In this article, you will find out what they are and how to solve them.
Main mistakes in paid media strategies
When we talk about paid media, any mistake, no matter how small, can end up with ROI (Return on Investment) and make your money go down the drain.
Therefore, we have listed the main mistakes that you need to watch out for:
Lack of clear and measurable objectives
This is the first and most important step when designing the strategy that will be used to malaysia phone number example reach the target audience. Without sales targets, reach, engagement or other relevant metrics, any media strategy is doomed to failure.
Lack of knowledge about the target audience
Not knowing who is part of the target audience you want to reach and what motivates them during their journey can lead to mistakes when choosing the right media and messages for them. Furthermore, knowing your audience helps you define campaign segmentations . Failure to segment your target audience correctly can lead to ineffective campaigns and wasted money.
Investing in the wrong channels
There are many media options available and more and more possibilities are emerging, but are all of them suitable for your audience? This is an important decision, as it can mean that your investment does not reach the people your business wants to reach.
Access the Brandformance kit and make sure the lead finds your brand throughout their journey.
Campaign monitoring failure
It’s not enough to just create a campaign; you need to monitor it to know when it needs to be optimized. But believe me, not monitoring campaign performance is a common mistake. It’s important to measure campaign performance to identify what’s working and what needs to be adjusted. It’s also important to monitor campaign performance against established goals to ensure they’re being achieved.
Lack of correct attribution of results
Failure to correctly attribute all of your audience's touchpoints can result in investments in each media being calculated in a way that prioritizes those that are not as relevant to conversion.
How to identify these errors
If you have managed to identify that any of these errors may be occurring in your company, you need to start taking action as soon as possible.
The first step is to carry out a diagnostic analysis across your entire media structure, from identifying the key metrics that are directly linked to your business' revenue to understanding whether the current strategy is correctly attributed to your results.
Validate whether your campaigns are distributed throughout the funnel and potential channels that can attract your ideal customer. The recommendation for this to actually happen is to apply the Brandformance strategy to reach the lead at different moments in the journey.
Furthermore, it is necessary to understand how data analysis is being performed and whether it is actually giving you relevant insights for the business and decision-making.
At MATH ADS we perform a detailed Media Diagnosis to help your brand reach the ideal customer and increase conversions. You can schedule the assessment below.
According to the Global Entertainment and Media Survey 2022-2026, published by PwC Brasil, digital advertising in Brazil should be equal to traditional advertising and this means that it has managed to connect more and more brands and people.
However, many businesses still make mistakes that can jeopardize their entire investment and, worse, waste part of the money. In this article, you will find out what they are and how to solve them.
Main mistakes in paid media strategies
When we talk about paid media, any mistake, no matter how small, can end up with ROI (Return on Investment) and make your money go down the drain.
Therefore, we have listed the main mistakes that you need to watch out for:
Lack of clear and measurable objectives
This is the first and most important step when designing the strategy that will be used to malaysia phone number example reach the target audience. Without sales targets, reach, engagement or other relevant metrics, any media strategy is doomed to failure.
Lack of knowledge about the target audience
Not knowing who is part of the target audience you want to reach and what motivates them during their journey can lead to mistakes when choosing the right media and messages for them. Furthermore, knowing your audience helps you define campaign segmentations . Failure to segment your target audience correctly can lead to ineffective campaigns and wasted money.
Investing in the wrong channels
There are many media options available and more and more possibilities are emerging, but are all of them suitable for your audience? This is an important decision, as it can mean that your investment does not reach the people your business wants to reach.
Access the Brandformance kit and make sure the lead finds your brand throughout their journey.
Campaign monitoring failure
It’s not enough to just create a campaign; you need to monitor it to know when it needs to be optimized. But believe me, not monitoring campaign performance is a common mistake. It’s important to measure campaign performance to identify what’s working and what needs to be adjusted. It’s also important to monitor campaign performance against established goals to ensure they’re being achieved.
Lack of correct attribution of results
Failure to correctly attribute all of your audience's touchpoints can result in investments in each media being calculated in a way that prioritizes those that are not as relevant to conversion.
How to identify these errors
If you have managed to identify that any of these errors may be occurring in your company, you need to start taking action as soon as possible.
The first step is to carry out a diagnostic analysis across your entire media structure, from identifying the key metrics that are directly linked to your business' revenue to understanding whether the current strategy is correctly attributed to your results.
Validate whether your campaigns are distributed throughout the funnel and potential channels that can attract your ideal customer. The recommendation for this to actually happen is to apply the Brandformance strategy to reach the lead at different moments in the journey.
Furthermore, it is necessary to understand how data analysis is being performed and whether it is actually giving you relevant insights for the business and decision-making.
At MATH ADS we perform a detailed Media Diagnosis to help your brand reach the ideal customer and increase conversions. You can schedule the assessment below.