The Secret to Savings on Advertising Costs
Remnant media (or remainder media) is another name for this deep discounted ad space – and its a term you should get familiar with if you have your hand in your company’s marketing and advertising efforts.
How Remnant Media Supercharges Your Ad Strategy
- Because remnant ad space is heavily discounted, it’s a clever media buying strategy for advertisers looking to maximize their advertising budget.
- Remnant allows advertisers to reach new markets and audiences you might otherwise not be able to afford. Ever thought of buying “the big Game” remnant?
- For broadcast advertisers, remnant can be used to determine the best performing stations, programs and dayparts with minimum investment and risk.?
- Want to test media channels without blowing your budget? Look no further than remnant media. Remnant offers a great way to split test media and creative at a low cost.
- Last minute remnant media can be purchased to help stimulate sales during a slow period of the year.
- Remnant ad space can be used to target specific audience segments in the market.
- Think only the big brands can afford TV advertising? Cost is a barrier to entry for some advertisers interested in television, and remnant is a great way to overcome that barrier. Remnant television creates an opportunity to enter the TV ad space at an affordable price.
- Remnant allows advertisers to buy premium spots for a fraction of the cost.?
How to Make Remnant Work For Your Business
Know Your Audience
How do you target your most relevant audiences? By applying a people-based marketing approach to your targeting strategy. With a people-based approach, media is purchased based on data from your actual customers (e.g. household-level television viewership data).
This can be achieved by understanding where your potential customers are paying the most attention and then finding opportunities to buy those spots at the lowest rates. Buying remnant isn’t just about winning the bid; the real win is the money saved on inventory that is valuable to your business.
When we look at media consumption of custom audiences, we have found that our data does not always reflect the broader market ratings. Buying media based solely on ratings could mean thousands of dollars wasted because they do not provide a true representation of your real audience.
Focus on Engagement
To maximize your return on investment, focus your media buys on the shows, programs and hours where your target audience – people actively in the market for your product – is paying attention. Then purchase remnant inventory based on CPM goals rather than on rates.
Use Remnant as a Piece of the Whole Strategy
Be Prepared Ahead of Time
Remnant avails come out Mondays the week prior to airing. With this in mind, understand what your plan is ahead of time – don’t wait until Thursday to buy inventory. Being ready right when avails come out will ensure better spot placement and higher clearance. Also, have your creative ready to go ahead of time and with correct ad specs. You may need several versions of creative in different sizes and formats.
Hire a Media Agency that Buys Remnant