Maximize Your Advertising Budget with Data

Even as the world attempts to return to some form of normalcy through the use of vaccines, the COVID-19 pandemic continues to affect the way we do business. During these difficult times, companies need to ensure that their limited income is being spent wisely. Many of them cannot afford to spend money on an advertising campaign that will not result in interest and sales from their target audience. However, by using data from media monitoring services provided by Media InSite, achieving your business’s advertising goals on a limited budget is possible. Let’s dive into how you maximize yoru advertising budget with the use of data.

As many companies have pivoted their operations online, Social Listening data can play a crucial role in helping businesses to determine what their target audience is responding to the most on social media. Businesses can use various engagement metrics including views, likes and Click-Through Rates as a guide to the audience preferences. This approach can help them to decide which type of ads they should invest in, leading to an increase in potential sales leads.

The data gathered from Social Listening can also be used to tailor online ads for a personalized experience for potential customers. This can be done by using the information gathered to create ads based on specific variables including location, age and interests based on search history. This will also help to ensure that the right potential customers are receiving optimized ads about your brands, products and services.

Ad monitoring, on the other hand, can provide Competitor Intelligence data and Category Intelligence data. This will allow brands to gain industry oversight including the advertising strategies of their competitors. Brands can access ad creatives and scripts done by their competitors in traditional and online media advertising and use this information to guide their ad creatives. They will also be able to determine if they are keeping up with the competition in terms of ad frequency, share of activity, ad placements media mix and messaging. With this information, businesses will be able to compare their strategies and spend with their competitors to see if they need to invest additional funds.

Let Media InSite’s Ad Monitoring service, take the guesswork out of allocating your limited advertising budget. Use the data that we can provide on the advertising trends of your industry to ensure that your ads for traditional and online media are engaging, strategically placed and optimized to increase potential sales.