Working Media Versus Effective Media – Which One To Invest For?October 16, 2018
As the role of Working Media versus Effective Media continues to be an incessant debate among marketers, entrepreneurs find it tough to make a final choice specially when it comes to budget allocation for their business units.
Of course, there is no black and white answer to whether to opt for working media or effective media. However, it is only after successful implementation of working media, that a firm can decide on its effective media.
Working Media versus Effective Media
Working media is a constant. Effective media keeps changing over time depending on different factors like trends, kinds of industry or seasonal demands of consumers.
Working media can include all kinds and channels of advertisement or promotion. Effective media are the handful of channels that really engage and influence the target audience leading to the highest scope of ROI. In fact, effective media cannot be the same for all entrepreneurs and businesses.
Effective Media Formula
It’s only after implementing all kinds of working media, that one can derive their effective media. As effective media keeps changing, entrepreneurs must ensure that in a regular time interval, all kinds of working media are experimented by their designated marketing teams and thereby, effective media is changed as and when required.
The formula to derive correct and strategic effective media channels for a business is – Effective Media = Working media – (Ads not in view + Ads served to irrelevant audience + Ad channels not getting response + Excessive repeated Ads)
Deciding On The Right Media
In today’s digital era, programmatic media is based on a brand’s marketing team combined with machine learning models. Entrepreneurs set business goals based on which the marketing teams and machine led models determine what ads to buy. When it comes to optimising effective media marketing strategies, it is important to measure the quality and value of media buys.
Entrepreneurs can use advanced methods of ROI measurement and align incentives to their marketing teams and tech vendors. This is a healthy step towards maximising the effective media percentage and enhancing the impact of programmatic campaigns exponentially.