Media buying offers a quick way to make profits without investing too much time or efforts as compared to the traditional organic search for affiliates with disposable budgets to spare or for those who wish to diversify into other channels in online marketing. Media buying isn’t for everyone as it involves some upfront costs and does not guarantee you instant overnight results. On the other hand, with a bit of research and smart negotiation skills, forex affiliates can identify the potential websites and quickly build up a good portfolio of sites to advertise their affiliate offers.
Media buying in forex marketing can be quite lucrative and this has been made possible thanks to the high commissions. The margins are big enough for forex affiliates to take a healthy risk by purchasing inventory space on other websites.
In this article, we discuss the various media buying tips excluding Facebook ads or Google AdWords.
So what is Media buying?
Simply put, media buying is a paid inventory model where the advertiser pays a webmaster a certain fee in order to place their links or banners on the webmaster’s sites for a fee. While most people assume that media buying is something that is done only by merchants or companies with big marketing budgets, the Internet has changed quite a bit in the past years and it now makes just about anyone with even a $50 budget to invest in Media buying.
Different aspects in Media buying
So you have a budget to spare and you are eagerly looking to purchase inventory, but do you know what type of inventories are available? Media buying can be classified into the following sets.
Media Buying – Text Links
This type of inventory was primarily used as a means to build back links but the environment quickly changed. Affiliates and even companies purchase text links for a variety of reasons. Text links offers one of the lowest price per link and thus makes it affordable for just about anyone from a $50 budget to as even $5000 and more.
Factors to consider when purchasing text links
If you are purchasing text links only for the reason to widen your net to get more conversions then the traditional parameters don’t apply. Factors such as the website’s PR can be conveniently ignored as the purpose of purchasing text links in this context is to drive traffic and not to build PR.
Identify/Understand the Niche
As obvious, identifying the niche is of primary importance. Most beginners tend to make the mistake of assuming a certain website to be in their targeted niche but when the results come out are greatly disappointing. Further more, such decisions are made on a gut feel as well, which is again wrong.
Spend more time on the websites you want to purchase text links and keep visiting the sites for a day or two in order to get yourself acquainted with the site’s structure and navigation. Then make a note of where the text links are available and ask yourself if the link position is visible enough to start generating clicks.
Most advertisers don’t keep their options open and thus stick to the link positions that are defined by the webmasters. The truth is, if you have identified a potential spot where you are sure to get visibility and thus clicks, discuss this possibility with the webmaster, for all you know you might just end up getting that lucrative link spot that was until now not even considered.
Know the Traffic
You can purchase tons of links on a website but if it gets no traffic the purpose is lost. Due research must be made into the potential websites you wish to purchase the text links on. Research includes using some free online tools to check how the website is faring, using Google and searching with some key phrases you have in mind and so on.
Media Buying – Banners
Media buying and banners are often mentioned in the same breathe and in fact banners form the majority of the inventory when you talk about Media Buying. With the advancements in technology, media buyers can now choose between animated gifs and interactive flash media.
Banners have proven to be effective and hence are the most preferred choice for media buyers what this also means is that banner inventory is often the fastest selling space in the media buying category. The difference between a successful and a failed media buying campaign is based on lots of factors, as we discuss below.
Factors to consider when purchasing Banner spaces
More than 90% of people who engage in media buying and especially with banner spaces often make the mistake of assuming that by putting up your banners you are going to see results. This is grossly incorrect. In fact a lot more research and groundwork needs to be done especially when you put up the banners via media buying.
Besides the factors of niche and traffic mentioned above there are additional factors that play a role in a successful media buying campaign that involves banner placements.
It is imperative that the placement of the banner is of high importance. What’s the purpose of having a banner if it isn’t visible at a first glance? The prefered placement for most media buyers happens to be banners above the fold. This is due to the logic that dictates that there is a higher chance of a banner being clicked if it is displayed on a page where visitors don’t have to scroll.
This factor alone accounts for higher fees. If your budget allows for this, then it would be ideal to choose a banner placement above the fold.
For those with budget limitations, take heart. You can be smart and purchase the less competitive banners below the fold. However you need to ensure that the message in your banner is compelling enough to make visitors click. The logic being that the visitor has taken the initiative for you and scrolled down the page to see your banner, thus with a compelling message the probability of getting more targeted visitors is much higher.
Know your competition
Before you close the deal, always spend time looking at the banners and the message itself from your competitors. This gives you a fair idea on how strong or weak your competition is. Also click on the banner and do take time to visit the landing page, if they have one. By incorporating the right message that stands out from the competition and linking the banner to an equally appealing landing page can do wonders.
Put it in context
Within the niche, there are various sub niches. So for example if you are looking at the forex niche and have identified a few websites chances are that these websites can be further sub categorized.
Would it make sense, if you purchased a banner placement that talks about forex VPS hosting when the website is clearly about binary options?
Media Buying – Co-registration
This is one of the lesser competitive categories in media buying because its fairly new and also the fact that not many people seem to understand how it works.
Well for starters, engage in a co-reg campaign only if your forex or binary options broker offers you a CPL commissions. The profit margins here need to be considered as the costs for co-reg within the retail financial sector is just as high as the CPL your merchant is offering you.
The concept is pretty much the same as with AdWords, where the cost per click is immensely high, which makes a few savvy marketers to go for alternative keywords. Applying the same logic, media buyers can look to complimentary verticals where it is easy to up sell the forex or binary options niche.
Tips for successful media buying
Make your messages compelling: Be it a banner or a text as or even a co-reg page, the way you package your product and offer it majorly influences a visitor. Although bear in mind that there is no silver bullet to reach the 100% click ratio. However, by creating provoking and compelling messages you can easily achieve the first task in the process which is to make the visitor curious enough that they click your message.
Have a good landing page: The landing page forms the next part in the process and the landing page needs to be closely tied up to your message. Bear in mind that at the moment when the visitor clicks and lands on your page they are curious to know more. So the landing page needs to hold their attention and create a second level grasp to make them fill out the form or take up your offer.
Follow up process: Whether you are working on a CPL or a CPA, it always helps to follow up on your visitors. Have a good auto responder that conveys a message and not gibberish ready.
Media buying can be an effective tool to give your existing affiliate marketing campaigns a bigger push. It is no longer the forte of just big companies but for many individual affiliates as well. Its not the budgets in media buying that make the difference but the bottom line conversions.