Media buying | two top tips for retail technology firms in 2019
The B2B Retail Tech Marketing approach you may not be utilising and how media buying can enhance your top-of-funnel in 2019 with two of our best-loved formats.
Once upon a time…
Once upon a time in B2B retail tech there was a very straightforward marketing approach, involving direct mails, emails and cold calls. But since then times have changed.
The digital landscape for one has exploded our marketing reach across the globe and with it, tracking down and tracing our prospects has become infinitely more difficult. So put away your yellow pages and let’s look at media buying and how it could help your next top-of-funnel B2B retail technology marketing campaign.
An ever-changing landscape
As we know the traditional media model has certainly weakened in the past decade. The general population are reading physical newspapers less, not listening to the radio as much and they are now instead busy streaming TV shows and movies and splitting their attentions between multiple screens at a time. So, is it really any wonder that your newspaper ad goes unnoticed or your direct mail goes unanswered?
However, there is hope. Digital advertising has skyrocketed to fill the void of traditional media, with global advertising revenue projected to grow 5% in 2019 to a staggering $600 billion. With digital sales growing at 14% traditional advertising may have floundered, but its digital counterparts certainly have not.
It’s the first time in fact that digital ad sales are representing more than half of global ad sales at a cool $304 billion. So, is now a good time to start buying some advertising spots on your favourite retail publication? The answer is yes. Whilst we are still on the upward swing of that growth you may find yourself advertising in a position where your competitors are not and that can give you exactly the competitive edge you’ve been looking for.
So as any good B2B marketer would ask, where should you start advertising and most importantly in which format should you be advertising in in 2019? Here are the quick answers:
Where to target your media buying?
In our industry of retail and hospitality technology our focus for clients is always on retail or hospitality publications. While we look at a broad spectrum of titles we also find clients are increasingly getting a great if not higher ROI from those who you may categorise as micro influencers rather than the big players.
That’s right, sometimes the ‘where to place’ is the most unexpected one. The first thing for technology firms to consider is not just where you read but where your prospects are reading before signing up to any costly ad spends.
At Fieldworks we approach each campaign by looking at both publications and ad spaces on social media while often comparing against the client’s competitors to see exactly where their rivals are, and where they are not. It’s also worth considering a top prospect list’s favourite visiting haunts.
Which formats for successful media buying?
Learning what the most successful format is could easily come down to trial and error, but to save yourself the financial heartbreak, here are two formats and several reasons why we might suggest say a banner ad vs an e-shot for your first toe-dip in the ocean of media buying.
The easiest, and usually cheapest of the set, we implement banner ads at the top of your marketing funnel. Used primarily for brand awareness, the banner ad puts your brand right in front of the right prospects, but it does so subtly.
Clients expecting high click through rates from these pretty little advertisements might find themselves disappointed if selling these in with the KPI of clicks.
Instead we’d use banner ads primarily to drip feed a new campaign to your prospects, advertise your attendance at an event or the arrival of a cool new webinar or podcast series and for that extra sparkle we’d even animate them.
The second and most popular format we like to set clients off with at first is the e-shot. With GDPR making companies shudder at even the mention of email, the e-shot is the best place for your Market Report or webinar advertisements, so long as it’s targeting a fully opted-in database of the key prospects.
As with emails of the past, the e-shot is the place to drop you CTR KPI as it drives far more click throughs than other formats and encourages engagement. We like a good Market Report promotional email or ‘join our podcast/webinar‘ email, followed up with some telesales or an engaging social campaign to get those prospects’ juices flowing.
Need more ideas and guidance?
Still want to know more about the media buying formats that you should be investing in this year? Why not give us a call or drop us an email and let us know what piece of killer content you want help promoting.