Media buying for the last decade has mostly been considered buying display inventory from websites that are accessed by desktop and laptop computers. With the rapid growth of mobile many are now conducting their media buys on mobile devices such as smartphones and tablets. Many advertisers are finding huge success with the massive amounts of inventory and little to no competition which means cheap traffic. However, as with any large scale media buy, profits don’t always come without conducting some split tests. If you go into a high volume media buy with just one or two landing pages and creatives it’s likely you’re going to lose money.
Here are four key essentials that will allow you room to optimize and scale your media buy:
Landing Pages – Regardless of what you’re promoting you should have an group of aggressive landing pages to test. I recommend starting with about four and seeing the major differences between click through rates and conversion rates.
Creatives – For performance marketers, click through rate is the saving grace. This is what bumps down the competition and gets the cheap traffic for solid ROIs. Go in with at least 10 – 20 different creatives and see what yields the highest. Split test different borders, different colors, new calls to action, etc. There is ALWAYS room for CTR improvement.
Offers – If you’re promoting a CPA offer with a media buy you need to make sure you have multiple alternatives. Not only should you split test them to see which converts best, you should also have one ready if your winning offer goes down. If you own the entire back-end to your offer you want to split test several different pricing structures. If you have any customer retention data consider that when setting your price points.
Traffic Sources – Don’t put all your eggs in one basket. Rather than throwing $1,000 a day spend with one source of traffic, spend $200 a day across five different ones. This will allow you to see what sources convert the best and where to concentrate on ROI. You always want to have a new traffic source “testing” or “optimizing.”
Regardless where you are purchasing your inventory (mobile, web, tablets, etc.) these four components can help make or break your campaign. Conducting multiple split tests allow you to take the data you have to optimize and scale accordingly. Don’t go in and get your lunch eaten like a novice. Go in ready for war!