Author: Franz Malten Buemann

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Ever wonder who is behind those banner ads on the sites you visit the most? Or the Super Bowl ads we talk about for weeks after they’ve aired? The answer is media buyers.
When a brand gets a marketing budget, a portion of that typically goes to paid advertising. That’s where media buying comes in.

It doesn’t get much buzz in the marketing industry, but this process is responsible for the targeted ads we see today.
Let’s dive into this process of which so many of us are on the receiving end.
Whether they’re watching a TV show or scrolling through a website, media buyers get brands in front of their target market.
It’s not like social media where users come and find you. It’s an outbound strategy that is only effective if you have a well thought-out strategy. Rex Gelb, director of advertising and analytics at HubSpot, says one of the biggest mistakes brands make is not thinking through their marketing goals.
“Some ad placements might be good for one set of goals, but bad for another. Let’s say you’re an airline and your focus is impressions and awareness, rather than an immediate sale, you can buy a placement that is known to get cheap impressions,” he said.
Gelb continued,”Now, let’s say you’re a CEO who wants to promote a ‘letter to our customers.’ In this instance, what you’ll care about is cheap clicks. Buying cheap impressions, which made sense in the previous example, no longer helps you accomplish your goal.”
That’s why media planning is such an important step, as it helps you get the most out of your ads. 
Nowadays, media buying is done in one of two ways:

Direct buy – Media buyers forge relationships with publishers to negotiate ad inventory, e.g., working with a newspaper to have an ad placed in the upcoming issue.

Programmatic buy – The buying process is done using automated technology.

Media Buying vs. Media Planning
Media buying and media planning fall into the same category but are two different processes. While media buying focuses on getting the most impressions from the right audience at the lowest cost, media planning focuses on the strategy behind the campaign.
During the planning phase, you determine what media will be most effective to reach a particular audience. So once media planning is complete, media buying follows. It’s also important to note that media planning isn’t solely for advertising, it’s for any media a brand puts out there.
However, in a small to medium-sized business, the job may be done by the same person or team.
How Digital Media Buying Works
With digital media buying, or programmatic buying, buying impressions is automated. The negotiation still technically happens but it’s done at a much quicker rate through open and private marketplaces.
The traditional approach, on the other hand, involves negotiations and relationship building with publishers.
There are three components to this automated buying structure:

Demand-side platforms (DSP) where advertisers and ad agencies set up their campaigns, bid on ad inventory, and optimize their ads based on performance.

Supply-side platforms (SSP) where publishers sell their ad inventory. It’s the publisher version of the DSP.

The ad exchange marketplace where advertisers and publishers buy or sell ad inventory through real-time bidding (RTB).

RTB is not the only way to purchase impressions, you can also use private marketplaces, in which publishers limit who can participate in the auction. Another option is called programmatic direct, in which ad inventory is sold at a fixed cost per thousand impressions (CPM) with no bidding.
So what about ad networks? Well those platforms aggregate ad inventory from various publishers and match them to advertisers’ needs, serving as intermediaries. Think Google Adsense and Facebook Audience Network.
Digital media buying can be more cost-effective and allow teams to focus on ad performance instead of back-and-forth negotiations. However, with the latest restrictions on cookies and Apple’s AppTrackingTransparency (ATT) rollout on iOS 14, it’s unclear how that will affect the media buying space.  
“With the upcoming release, Apple will be asking all of its users for permission to track when they open an app, and big ad networks like Facebook won’t be exempt,” said Gelb. “Needless to say, a lot of iOS users are going to opt out, which will have negative implications in terms of targeting and conversion tracking.”
“Nobody knows exactly what the impact will look like yet,” he added, “but we, in the industry, are crossing our fingers and hoping for the best.”
Media Buying Tips
1. Strategize.
Before you launch your ad campaign, you’ll have to figure out a few things.
The first question is, what’s the goal of your campaign? Do you want more website traffic, brand awareness, social engagement? Aligning your team on one goal will help focus your efforts and better track your campaign’s success.
This leads us to key progress indicators (KPIs). You’ll need them to monitor your campaign and determine if any adjustments need to be made. Lastly, your campaign will need a budget. If it’s a long-running campaign, you may set a daily budget.
These steps are typically completed during the media planning phase. However, in some cases, media planners are also responsible for buying ads as well.
2. Identify your target and where to find them.
Your next step is determining who the campaign will target and which networks will be most appropriate to reach them.
For instance, let’s say a health-focused vegan dessert company wants to run an ad campaign next quarter and they want to target health-conscious, vegan consumers. The marketing team may want to advertise on YouTube videos with vegan-friendly content, fitness and nutrition websites, or even cooking and recipe pages.
When buying media, you can target audience by device, location, behaviors, interests, web browser, and more.
3. Set up your campaign.
This step will vary depending on which media buying platform you are using.
However, when typically using a DSP, you will input your campaign details, such as campaign type, creative assets, budget, target audiences, and bidding strategies. So, once that process is complete, all there is to do is launch and wait for results to come in.
If you’re taking a direct approach, this will likely be a collaborative process between your team and your publisher’s account manager.
4. Track the results and optimize.
The most exciting (and possibly scariest) part of launching an ad campaign is tracking its performance.
As soon as it launches, you can start gathering data on how your ads are performing. In this stage, it’s important not to make decisions too quickly. You’ll want to gather enough data to get a full picture before switching gears.
Using the same vegan dessert company, let’s say they launched an ad campaign through Google’s ad network. They are using two static image ads and one video ad. After one week, they notice that the video ad is significantly outperforming the banner ads. The media buyer can decide to reallocate funds to that ad type and placement as it is generating better results.
A media buyer’s job is to maximize ad potential while staying within the budget. As such, if the ad isn’t delivering on expectations, adjustments can and should be made during the length of the campaign.
1. Google Display & Video 360

Inside the Google Marketing Platform, you’ll find Display & Video 360. Originally DoubleClick Bid Management, DV360 integrates seamlessly with Google Analytics and other Google products. So, if your team is already using those tools, this may be the right media buying tool for you.
There are five modules in DV360 to build your campaign, manage your audience and creative assets, analyze your data, and access ad inventory from top publishers. It also offers automated bidding and custom targeting using first and third-party data, making it easier to reach the right audience.
Lastly, the platform allows advertisers to not only reach users on websites and YouTube but also TV.
2. The Trade Desk

If you want access to premium publishers, the Trade Desk is one place you’ll want to look.
The platform has ad inventory from some of the biggest publishers, including Spotify, ABC, Wall Street Journal, and ESPN.
One of the platform’s key features is the AI-driven “Koa,” which uses data from over 600 billion daily queries to determine the smartest and most cost-effective way to run your digital campaign. The Trade Desk also has cross-device targeting capabilities to optimize your campaign’s reach.
3. AdColony

AdColony helps brands reach mobile app users on both IOS and Android.
The platform offers multiple video formats and placements, including full-screen, interactive, banner, and interstitial. This allows marketers to test various formats to see which garners the best results.
AdColony also has over 90K direct app integrations and a reported 450 million supply of app users.
4. Amazon DSP

Every time you think Amazon has capped, it comes out with another vertical.
Amazon DSP is one of the most used DSPs by brands and ad agencies, according to an article by Ad Exchanger. With this DSP, you can reach users on Amazon-owned websites like Audible and IMDb, and other Amazon partners.
They also make brand safety a top priority to ensure ads don’t appear in risky or unsuitable environments.
5. AdCritter

AdCritter is a DSP made for small to medium-sized businesses.
The platform has an ad builder and a library of pre-designed templates for businesses that may not have their own creative assets.
With AdCritter, media buyers can even hand-select the websites they’ll appear on to ensure their ads reach their intended audience. They can also reach consumers based on demographics and behavior.
6. Adobe Advertising Cloud

In 2017, Adobe launched a powerful DSP to tie with Adobe Audience Manager and Adobe Analytics.
Similar to Google, Adobe’s platforms integrate seamlessly, which makes collaboration easier and cross-data analysis simpler.
Adobe also has powerful performance optimization features to maximize return on ad spend (ROAS).
7. Verizon Media

If you’re like me, any mention of Verizon automatically brings “Can you hear me now?” to mind.
Well, turns out, Verizon does offer way more than just cell phone coverage. In 2019, they reported that their DSP generated a 71% higher average conversion rate from campaigns compared to third-party segments.
Their platform uses omnichannel strategies to engage consumers, such as digital out-of-home ads (i.e. billboards and on-car ads), audio streaming platforms, and connected TVs.
8. Criteo

This platform has access to a large network of premium retailers, making it a great DSP for brands who want to reach online shoppers. Think Best Buy, CVS pharmacy, Macy’s, and Kohls.
They rely on first-party data, instead of third-party cookies, to optimize ads and determine the right time and place to engage shoppers.
Criteo’s flexible attribution models also make data analysis easier for teams.
9. StackAdapt

If your brand is in the alcohol, cannabis, gambling industry, it can be difficult to navigate ad regulations and compliance guidelines. StackAdapt helps brands strengthen their messaging and maneuver around those challenges.
Some of their key features include dynamic retargeting, machine learning optimization, and cross-device capabilities.
10. AcuityAds

AcuityAds’s best feature is its intuitive interface.
With this DSP, your team can build an ad storyboard for any campaign and visualize the customer journey.
There is a drag-and-drop feature that streamlines the media planning process. AcuityAds also has a journey map that allows brands to quickly visualize how a campaign is performing.
11. Simpli.fi

Some DSPs offer pre-segmented audiences for ad campaigns, which can be limiting depending on who your team wants to reach. Simpli.fi offers custom targeting options to guarantee accuracy.
The platform also promotes cost and analytics transparency. Marketers can see a detailed breakdown of where their ad dollars are going and how much of it goes toward platform fees.
Another standout feature in Simpli.fi is the localization capabilities to reach audiences at the most granular level.
12. Adelphic

If customer support is important to your team, consider Adelphic. This omnichannel DSP reports consistently having a client satisfaction rate above 95%.
Unlike other DSPS, Adelphic offers a flexible pricing model, offering a subscription-based structure. This means media buyers pay one set monthly fee for unlimited media.
Additional features include advanced reporting tools and data integrations.
13. Amobee

With Amobee, you can design digital campaigns on various platforms and across multiple browsers and devices.
This DSP identifies potential consumers on a person-by-person level using their proprietary identity graph called “Amobee ID.” Using this tool, brands can forecast their campaign’s performance across multiple devices and channels.
The platform can also access APIs from social channels, such as Facebook and Instagram, for social campaign automation.
14. Basis by Centro

With over 9,000 vendors and 11,000 contacts, Basis has one of the largest inventories in the market.
Its artificial intelligence (AI) tool can also review over 30 campaign parameters and make optimization suggestions to get the best results. Basis also has scalable features, catering to both small and large businesses.
15. Xandr Invest

Zandr Invest specializes in reaching audiences through connected TV advertising.
The platform is built on AT&T’s first-party data, giving brands unique insight to deploy targeted campaigns. Marketers can segment users by lifestyle, interest, intent, demographic, and viewership.
Xandr also offers a sleek user interface to plan, launch and track campaigns.
When buying media, no ad placement is accidental. It does involve some trial and error as you get started and the optimization process will last throughout the campaign. However, once you have a strategy to follow and an intuitive platform to track performance, this will result in effective ads that meet your marketing objectives.

To consider the potential payoff of product diversification, let’s start with an example.
Lululemon, an athletic apparel company, was founded in 1998 with one core product: yoga clothing for women.
If you’ve been to a store recently, you’ve likely seen how far beyond women’s yoga-clothing Lululemon has grown.
For instance, my brother now buys all his button-down shirts and work pants from Lululemon.
Additionally, last week I bought a bathing suit from the shop.
On their Our Story page, Lululemon states: “Our first designs were made for women to wear during yoga. Through plenty of feedback from our guests, ambassadors and elite athletes, we now design for yoga, running, cycling, training and most other sweaty pursuits for women and men.”
This is an example of effective diversification in-action. Here, we’ll explore what diversification marketing is, and how it pertains to your marketing strategy.

Why diversify your product offerings?
There are three reasons a business might choose to diversify its existing product line:

You’ve reached the ‘limit’ on the amount of people you can convert in a market segment.
You’ve identified a new product or service that complements the needs of your existing customers.
You’ve decided a new level of growth can only be achieved through addressing new market segments.

Let’s dive into the difference between the three of these reasons, now.
First, perhaps you’ve reached the limit of the amount of people you can reach in a market segment. If you created a niche product or service, you might’ve spent the last few years marketing your product to your core audience demographic.
Eventually, you’ll reach your limit of potential people you can reach and convert within that audience segment.
For instance, GoPro started out selling HD cameras for sports and adventure. However, there are only so many people they can target with GoPro cameras — which is likely why they expanded to camera accessories, and even lifestyle gear, including backpacks and clothing.
With an expanded product line, GoPro can now target audiences who are looking for outdoor gear, along with audiences who are searching for HD cameras.
Second, perhaps you’ve identified a complementary product or service to the one you currently offer. To identify complementary products or services, consider what goal(s) your products help your customers achieve, and what other tools or services they need to achieve those goals even faster.
Mailchimp, as an example, started as an email marketing tool. Now, the company has diversified its product offerings and expanded into social media tools and even website builders.
Mailchimp created an email marketing tool to help customers reach new audiences and convert those audiences faster. Social media tools and website builders, then, are natural extensions of that primary goal.
Finally, a third reason you might diversify your product offerings is simply to reach and convert new segments of customers. This is less of a brand-new product or service, and more of a tier-method in which you have the same product with varying features depending on audience segment.
An example of this is a software company that initially targeted small businesses, and is now expanding into the enterprise audience segment.
To successfully expand, you’ll need to ensure your new product features accurately address enterprise users’ needs — which will be drastically different from your small business clients’.
Another example is a sports shoe company that continues to create sports shoes, and doesn’t diversify its products or services beyond sports shoes. However, the company does start creating different lines of sports shoes to address different audience segments: including tennis players, golfers, and joggers.
Advantages and Disadvantages to Product Diversification
There are a few major benefits to diversification, including:

Minimizing losses: Ever heard the term, “Don’t put all your eggs in one basket”? That’s the premise of this advantage. Basically, if one of your products underperforms, you’ll be able to minimize company revenue loss if your other products are performing well or better than expected.

Increasing brand recognition: If Apple only sold computers, it probably wouldn’t be the well-known brand it is today. But since the company has expanded into smartphones and music players, it’s expanded the amount of customers who use an Apple product. As customers increase, so does brand recognition.

Increasing customer lifetime value: By expanding your offerings, you’re increasing opportunities for customers to find value in your brand — which could increase brand loyalty. For instance, if Lululemon just offered yoga pants, I probably wouldn’t be such a big fan. But since I can get workout clothes, work clothes, and even swimwear from them, my loyalty towards them is high.

If you create a tier-program in which you offer additional product features for varying phases of a business, you’re minimizing the risk that your customers will outgrow you.

However, there are also risks associated with diversification. A few major risks include:

Brand dilution: People no longer associate your brand with the product or service you your were initially known for, and they’re unsure how your new products relate to your business mission or values.

Resourcing limitations: You don’t have the budget or headcount to effectively create new products or services, or your marketing team doesn’t have the resources to properly target a new market audience.

 Inconsistent support for additional products: If your support team isn’t prepped to handle the new complaints or challenges prospects and customers are facing with your new product, the industry’s overall satisfaction with your brand could decrease.

Marketing’s Role in Diversification
If your company is diversifying its product portfolio, your marketing team plays a major role in the success of that expansion.
Among other things, your marketing team is likely in charge of market research (including your new segment’s unique challenges and pain points), product development (i.e. ensuring your product successfully meets your target audience’s needs, especially as those needs evolve over time), and creating a successful product launch.
Ultimately, your marketing team needs to learn how to target your new market segment — which might be difficult if your brand hasn’t targeted that audience in previous marketing campaigns. (To learn more about audience segmentation and targeting, take a look at The Marketer’s Guide to Segmentation, Targeting, & Positioning.)
And, just as importantly, your marketing team needs to mitigate some of the risks associated with diversification.

For instance, marketers can minimize brand dilution by telling a comprehensive story to the public that outlines why these new products or services make sense to your business’ vision, goals, or overall mission.

Lastly, when marketing your new products, services, or expanding into new market segments, consider how you might diversify your marketing strategy to achieve growth with these new product offerings.
A marketing strategy that worked well for one product won’t necessarily work well for another — so it’s critical, as a marketer, you remain flexible and open-minded to pivoting to properly address the needs of these new customers.
When done properly, diversification is an incredibly exciting opportunity to fuel long-term growth … Just consider the growth Lululemon has seen since making the courageous leap into apparel beyond women’s yoga clothes.

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Have you ever heard the age-old classic story of a company that got its start from a back-of-the-napkin idea? Or about the start-ups that started in someone’s garage?
While all those stories are, of course, inspirational, a huge element that they leave out is that every business started because someone felt the project justified spending time and money on it.

That’s why some projects require you to write a business case. Whether you want to start a company, pitch a new product, or perhaps you just want your business to use a new project management tool. Either way, a project that requires time and resources will also require justifying those expenses in the form of a business case.
Below, let’s review what a business case is, plus an example and template to inspire your own business case.

In a business case, you might include the background on a project, expected benefits, costs, risks, and opportunities. This document will justify taking on a certain project. So, how do you develop a business case? Let’s dive in below.
Business Case Development
To develop a business case, you’ll need to write several key components, including a proposal, strategy, budget, SWOT analysis, and project plan. With these documents, you should be able to prove that the project you’re pitching is worth doing.
Let’s dive into the steps for how you’ll develop a business case below:
1. Research
Before you can write a business case, you need to do your research. First, you should have a goal in mind for your project, whether it’s to create a new product, help drive more traffic/leads, or improve user experience.
Write down your goal and then conduct research to prove that your project is the way to achieve your goal.
You can begin by researching what competitors are doing and look for gaps that your project solves.
Start to brainstorm what this project’s strengths, weaknesses, opportunities, and threats are. Additionally, you’ll want to learn about your market — whoever will be the consumer of the project, even if that’s your own team.
Finally, you should start to look into what a budget would look like for your proposed solution.
2. Focus on one component at a time.
A business case will usually include several documents. Focus on one at a time, while keeping your notes organized.
Start with your proposal, then move on to your SWOT analysis, the competitive analysis, the project plan, overall strategy, and then the budget. It can be easy to get lost in just one of these tasks, so focus on one thing at a time to complete the bigger picture business case.
3. Write an implementation plan.
Once you’ve gathered your research and you’re working through each component, it’s time to start thinking about implementation.
How will you implement your project? Once you’ve made the business case that your project should be done, stakeholders will wonder how you’ll execute it.
To do this, write an implementation plan that discusses how you’d complete the project and metrics that you’d track to measure success.
Once you’re done writing your business case, look at the whole document and ask yourself whether it’s comprehensive, measurable, and adaptable.
A business case doesn’t need to be an entire business plan for a new product. Sometimes it will be less formal due to the size of the project. Either way, you want to make a strong case for your project, so it should be easy to understand and implement.
Now, let’s look at an example of what a business case might look like.
Business Case Example
Now that you’ve seen what it takes to write a business case and what the process looks like, let’s look at an example for inspiration.
In the example below, the project is about getting a new phone system to help the sales staff. Because this is a fairly small project, the business case isn’t several pages long with exhaustive research.
However, it’s important to keep in mind that while your business case might look something like this for a small scale project, it might include several pages of information if you’re pitching something like a new product or a new UI to improve user experience.
The point in the business case is that it’s adaptable to be whatever you need. However, the components of the business case will be the same regardless of how long it is. Every business case should include why a project should be done, the benefits, costs, risks, and budget.

Image Source
Simple Business Case Template
Proposal

Project details
Strategic context
Vision, goals, objectives
Benefits

SWOT (Strengths, Weaknesses, Opportunities, Threats)
Competitive Analysis

See if competitors are doing the same thing
Look for gaps in their offerings, if applicable

Risk Analysis

What risks are involved?
Will these risks present opportunities?

Market Assessment

Do your consumers want this?
How will this help your stakeholders?

Budget

Economic analysis
ROI

Implementation/Project Plan

Roles/Team
Duties/Responsibilities
Stakeholders
Specs and Requirements
Timeline

If you have a new project idea for your company that requires a budget and resources, it might be a good idea to develop a business case to show your superiors that the project is worth taking on.

The other day, I searched for “Taylor Swift” on Facebook.
I was shocked to find hundreds — if not thousands — of Taylor Swifts in the United States alone.
Fortunately, I was able to find the mega-pop star’s page easily, with the help of a small blue badge:

When searching for a business (or person) on Facebook, a verified badge is often the easiest and most reliable way to ensure the page you’ve found is authentic.
As a business, it’s critical you use a verified badge so that prospects and customers can easily find your true page and access up-to-date, accurate information about your brand. Without a verified badge, it can be difficult to trust whether the page is legitimate.
However, the process for securing a verified badge is different for a business’ Page than it is a personal profile. Here, we’ll explore the steps you need to take to obtain a verified badge — plus, why it’s important for your brand in the first place.

How to Verify a Facebook Page
Note: The following steps outline how to verify a Facebook Business Page — if, instead, you want to verify a profile, you’ll fill out the same form, but you’ll need to upload a copy of your official government-issued photo identification, instead. (You only need to verify a profile if you’re a public figure or celebrity.)
1. You’ll need to fill out this form to request a blue verification badge from Facebook. Since this is for business purposes, you’ll want to click “Page” rather than “Profile” … 

… and then click the “Select page to verify” drop-down menu to find your business page in the list. (Note: You must be an admin of the Business Manager account to submit this form.)

2. Since this is a business page, you’ll need to attach a copy of a phone or utility bill, certificate of formation, articles of incorporation, or tax exemption documents.

3. Fill in the box explaining why the account should receive a verified badge. You’ll need to include a minimum of 10 characters.

4. Add other social media account URLs if possible, as well as any additional comments.

5. When you’re ready, click “Send”. You’ll be re-directed to the following page, where you can watch the status of your request: 

(Facebook notes: “You’ll receive a notification once we review your request. Please don’t submit more than one request for your account. For denied requests, you can submit a new request after 30 days.”)
Why can’t I verify my Facebook Business Page?
There are a few reasons Facebook might deny your request. Let’s explore two common ones, and how you can fix them.
1. Something is wrong with your submitted documents.
Facebook outlines a few primary issues you might have with the documents you submitted in the request form. If your document doesn’t align with Facebook’s requirements — or is low resolution or low-quality — consider re-uploading a new document that fits Facebook’s standards.
For instance, your document:

Might not be the type of document Facebook accepts (more on that here).
Might be a self-filed document. Facebook needs to see a document with an accompanying official signature or seal.
The document is blurry, low resolution, or corrupted. Ensure you’ve scanned your document at a high resolution or format.
The document is expired.
The document you submitted doesn’t contain your full business address.
The document’s language is unsupported (supported languages are shown in the image, below):

2. Your information — including business website, business address, and your business’s legal name — doesn’t match up.
When it comes to requesting a verified badge, accuracy and attention to detail is key. For instance, your request might be denied if your company’s name listed on your Facebook Business Settings is different from the name that appears on your submitted documents.
Here are a few considerations to keep in mind:

The legal business name on your submitted document needs to match the name that appears in your Business Settings. (To fix this, update your business name in Business Settings or submit a new document that includes the business name that appears in your Business Settings.)
Your document needs to include your business’s full address and business phone number. (A partial address won’t be accepted.)
Your email domain and website address need to match, and your website should feature your company’s name or logo.
Your business name needs to be listed on your submitted document. For instance, if a utility bill has your business’ phone number but your business name isn’t included, it won’t be accepted. (More information on acceptable documents here.)

Why Its Important to Verify My Facebook Business Page
A verified badge tells prospects and customers that they can trust your Facebook Page as the true, authentic presence of your brand. Additionally, it’s often critical for differentiating your brand from other, similar terms that might make it difficult for users to find your business on Facebook.
However, there are a few other major benefits to having a verified Facebook Business Page, aside from increased visibility.
For one, Facebook’s algorithm automatically places verified badges at the top of search results when someone is looking for your business. This is especially important if your brand hosts a few groups on Facebook.
For instance, HubSpot has a few dedicated groups for various, niche purposes like HubSpot education or HubSpot marketers. It’s critical Facebook users are able to find the more general, official HubSpot Page when searching “HubSpot”, which is why it’s good HubSpot’s Page has a verified badge, which enables it to rise to the top of search results:

Since the verified badge will help surface your brand to the top of search results, you’ll ideally increase followers and leads as a result of having a verified badge — a major benefit of the symbol.
Additionally, a verified badge earns you early access to new Facebook features that aren’t yet available for all users. This can help you level-up on competitors who might not have the same access. 
And that’s it! You’re all set to request a verified badge for your own business’ Page. Next, take a look at the Ultimate Guide to Facebook Marketing for more tips on driving demand and growing your business on Facebook. 

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