Penny Auction Media Buying
Buying media for penny auction is a specialized skill, which requires knowledge of target clients, penny auction consumers behavior, the media used to attract penny auction consumers, and the criteria used to pick up the media of proper time and size. Website sales representatives can be very persuasive in proposing advertising packages and offer to serve as your media advisers. A sales representative`s advice can be very helpful, but never let him get you to buy a package. Instead of relying on a sales representative, you may wish to hire a professional media buyer with experience in penny auction industry at no cost since he has a media buyer discount. Even if you hire a media buyer, you would need to pay enough attention for the key buying criteria to be in control and make the purchase decisions based on the proposals. Since you are buying media for your penny auction only, it makes sense for you to understand few basic principles. Below is a summary of the most important considerations:
1. Get lowest CPMs: National penny auctions buy Google and display networks ads on a “tonnage” basis. Your efficiency goal is to get the lowest cost-per-thousand (“CPM”) for your target market while also satisfying your cocurrent media buying requirements. You can determine the demographics of your most lucrative customers and you may wish to advertise to them first.
2. Check conversion rates: Some publishers very often perform much better for penny auctions than others. Finding a proper publisher selection, picking up the right ad format, timing and frequency is the proven way to save money and find a proper niche.
3. Follow retention: Retention is the most important factor that determines penny auction site success. While some penny auctions lose the customer after first conversion (that is usually built on free bids), others build long term relationship leading to multiple deposits.
Based on the combined experience of more than 20 penny auctions we can help you to buy media for your penny auction, that will provide the best conversion and long term income.
