How to create and convert opportunity in the digital age
In an increasingly digital world, how do you get your advertisers to commit their advertising sales and media spend? Fundamental to the future of your business will be to lock advertisers into a spending cycle with you. And not your competitors.
But advertisers are savvy. They know the value of their budget and they have increasingly ambitious KPIs to hit. They also understand the channel mix and what it can deliver for their business and are opting for a holistic cross-channel approach.
TV spend might be down year on year (YoY), but is still a significant £1.4billion, whilst radio is enjoying a resurgence, with a 5% YoY increase. Digital continues to grow with search and online display pulling in almost £12billion in advertising revenue in 2018.
Advertisers are looking for digital solutions to perform in the short-term to supplement any longer-term traditional campaigns. As a media owner, this is your opportunity.
Creating your opportunity
This is your chance to harness the power of the latest technology to give your advertisers the best possible solutions to cater for their needs and goals. If you can also tap into the capabilities of AI, machine learning and automation you can make your own processes slicker, more cost-effective and streamlined.
Here’s how you can create that opportunity.
1.Offer a cost-effective service for digital advertising
Your advertiser may view ad creation as a significant barrier to entry for digital advertising. The upfront costs associated with a creative agency eating into their budget, before they can get any ads live can be off-putting.
The opportunity to build their digital display ads quickly and easily with you, for a much lower cost, is the first step. By offering this added value and additional services, you also create another revenue stream for yourself.
The Localstars ad builder enables beautiful, multi-click, multi-shape and feature-rich digital display ads to be built in minutes. Providing the service as part of your digital display package for your advertisers, means one cost for all of their activity.
2.Help them visualise their ads in a live environment
Your sales tactics need to be streamlined and efficient to convert leads into clients and ensure your advertisers continue to spend with you. Don’t simply rely on your sales team describing what it may look like. Let the client see it; it’s a try before you buy pitch.
The Localstars Sales Automation Engine uses creative selling techniques to illustrate to your prospects exactly what their ads will look like when live, enabling them to view it in their own time. And crucially you’ll get the metrics on how many times they do so and for how long. Your sales team will focus on the most engaged prospects and at the time when they’re the hottest. It’s the ideal way to harness tech to enhance your sales and revenue.
3.Cut down the trafficking time
By ensuring your campaigns can be produced and trafficked quickly, you offer your advertisers a quick route to market to get their ads in front of the customers that matter for their business. The Localstars platform shortens the time required to sell, produce and traffic campaigns, which gives you the opportunity to maximise client retention and increase revenues in the process.
4.Offer your advertisers access to market-leading technology
But not just technology. Technology that will enhance the performance of their digital advertising.
Geolocation technology enables your advertisers to reach local audiences, whether by geo-targeting or by geo-fencing.
Through geo-targeting, your advertisers can target people in a specific location to increase their brand awareness. All of the budget will be focused on that location, meaning no wasted ad spend. Geo-fencing enables ads to be served to people that enter a defined area, retargeting them through mobile advertising, with the aim of boosting conversions in store.
Whatever the objectives of your advertisers, you’re able to offer them a variety of solutions that can be tailored to their needs with your custom-made offering. That’s how you keep them in the spending cycle.
5.Help them to get engage with their customers
Consumers are continuing to be more demanding. They have different needs at varying stages of the buying journey. When online they’ll have contrasting mindsets and needs throughout the day. The same display ad pointing to one landing page at all times simply doesn’t suffice and it won’t drive engagement.
Dynamic ads that change in line with the time of the day, the day of the week, the weather and the language of the user are key. As are multi-click ads with tailored landing pages that cater to each stage of the purchase funnel.
6.Cater to their specific needs
By showing your advertisers you know how they operate and by providing products to cater to their needs, you’ll lock in their ad spend with you.
For advertisers with ever-changing product inventories – think car dealers, travel companies, and gambling websites – they need a solution that ensures their ads are always up-to-date. Whenever their inventory changes, this needs to be updated in their ad. Feed ads provide a simple and straightforward solution to this problem. And they can now get this solution with you.
7.Provide insights and metrics to power future campaigns
It’s important to provide added value for future campaigns as well as feeding into your advertisers’ ongoing strategies. Advanced Insights Reporting helps your advertisers to understand the key metrics around their audience and how best to engage with them. You’ll be providing them with the tools to tailor their future campaigns and drive better results.
There’s never been a better time to get your digital advertising offering up to scratch. By doing away with a scattergun approach and legacy systems and by tapping into the power of the Localstars platform you’ll give your advertisers more bang for their buck and can drive improved revenues in the process.