Millions of consumers are using the Internet every hour of the day. They’re looking at news sites, entertainment blogs, online shopping, downloading stuff, checking out websites for almost anything imaginable. Surrounding the content being checked out are advertising opportunities that businesses can buy and be seen. With digital technology the way it is today, businesses can also target the eyeballs of a specific type of person.
Digital advertising is not only for big corporations. Small to medium sized businesses, the self-employed offering their services, self-published authors, or even to get a message in front of a local audience – advertising doesn’t discriminate. Of course company sites have rules to protect their interests and to be mindful of their online visitors. So, offensive material like nudity and obscenity are usually prohibited.
If you have goods and/or services you are selling, you are a marketer. When you take your marketing efforts online expect to receive a sales pitch. A good sales representative will share why their site is where you want to be. Here are some of the reasons that make a site enticing and if it has the audience that can potentially convert to customers:
- · The average amount of visits per day, week, or month
- · Local readership
- · National readership
- · Editorial content is focused on a specialized area of interest
- · Users who engage frequently in social media
- · Multi digital device capability: Desktop, mobile cell and tablet
- · The ability to target users, such as income levels, gender, geography, certain interests, and age range
After a sales representative gathers information on what you are selling, demographics, budget, and all other important details to drive consumers, you will receive a digital schedule that was strategically planned out to meet your advertising objective. The digital plan will consist of basic metric terms every digital marketer should know.
- · Creative or banner – This is the advertising unit where your business goods or services are showcased. They can be static, animated, or even execute high impact media animation.
- · Ad Placement – Designated areas of a web page specifically reserved for ad units to serve.
- · Impressions – The number of times an ad unit serves and seen by users.
- · CTR: Click Through Rate – The percentage of clicked impressions from site visits. The CTR is calculated by dividing the number of banner clicks by the number of impressions served.
- · Forecast- The potential amount of impressions predicted to serve overall based on what served from previous weeks.
- · Availability – Number of impressions available to sell; has not been purchased or reserved for in-house promotions.
- · Flight – The period, start and end date, the unit(s) will serve.
- · Rotational Units or Impression Based Units – When a banner is scheduled to rotate or serve with other advertisers in the same placement.
- · Sponsorship – When a banner has exclusive share of an ad placement within a period. Usually 100% booked for the entire day, but can be sometimes sold 50%, 25%, 20%, etc.
- · CPM: Cost per thousand impressions (The “M” is the roman numeral for 1,000) – CPM’s usually apply to rotational units. If a unit’s ad placement cost $10/CPM, the unit will be charged $10 for every 1,000 impressions the unit serves on the site.
- · CPD: Cost Per Day – CPD’s usually apply to sponsorships. It is the flat fee rate charged for guaranteed exclusivity by percentage share.
- · SOV: Share of Voice – Percentage portion of ad inventory within a site section or sections available to an advertiser.
After reviewing the digital plan, do not be afraid to have it revised if you’re not satisfied. Keep in mind that the individual or planner that put your advertising schedule together is very familiar with the site and audiences, so it’s likely the planner will give their best recommendation the first time around. Now you see why providing as much important details before the plan is put together is key to the pre-sales planning process.
All in all, understanding the basics of online advertising will help save you time and money and avoid mistakes. More importantly knowing how you spend your advertising dollars makes you a smart digital marketer and can put you steps ahead of your competitors.