5 Ways to Increase Advertiser Share of Wallet in 2024

Every Proposal Should Include Multiple Tactics

An advertiser buying one tactic from you will likely not see the results they desire. We live in an omnichannel world where ads target audiences across digital and traditional media. A one-tactic campaign is like a silo that doesn’t connect with anything else. Using multiple channels delivers greater performance, as companies using three or more have a 287% higher purchase rate than those with only one.

Google also offers data on the omnichannel approach. The company concluded that omnichannel strategies drive an 80% higher rate of incremental store visits.

Sharing these facts within your pitch can turn the lightbulb on for customers. The tactics you propose will depend on their goals, budget and audience. Some generally complementary campaigns include:

• Radio, streaming audio and OTT/CTV
• Display, OTT/CTV and SMS
• Email marketing, geofencing and social media

You can find specific multi-tactic proposal ideas by using our ad mix tool.

Digital-Only Buyers Need a Reintroduction to Radio

If your customer list includes digital-only ad buyers, there is an opportunity to expand advertiser share of wallet with a reintroduction to radio. The power of radio is not contracting but rather expanding. It reaches every demographic on a regular basis, so its reach is undeniable. Plus, it’s hyper-local, and there’s a unique trust that listeners have in regard to programming. If you need data and facts, check out this infographic on audio trends. Additionally, the Radio Advertising Bureau (RAB) has many sources demonstrating radio’s power as an advertising channel.

Full-Funnel Advertising Drives Performance and Revenue

Another approach is to educate advertisers about full-funnel advertising. Full-funnel campaigns have a 45% higher ROI and a 7% increase in offline sales. They cover all phases of the customer journey:

• Awareness: A potential customer has a need and is researching options. Tactics for this include SEM (search engine marketing) and brand awareness display or radio ads.
• Consideration: Someone understands their problem and is evaluating options. SEM, social media and OTT/CTV fit this phase.
• Decision: The consumer is ready to purchase. SEM, geofencing and social media ads are great options.

It’s crucial to explain that only focusing on one part of the funnel doesn’t capture all prospective customers. Expanding to think about every step involves longer, more strategic campaigns.

Digital Can Be a Great Way to Experiment

Advertisers that have been doing the same thing for years have likely hit a wall. Those campaigns may still be working for them. However, the world has changed, and so have their customers. It’s time to have a conversation about these dynamics and how experimenting with new ad types can help them expand on conversions and sales.

They don’t need massive budgets to do this. You can recommend trying a niche social media site that most aligns with their ideal customers. A three-month campaign at a $5,000 budget would be sufficient. Another option is to suggest OTT/CTV, which has become a winner for local advertisers. If they currently spend money on traditional TV spots, they can move some of that budget and use the same creative. Since these tactics are all trackable and measurable, you can dive into the insights to see what worked the best.

Be an Idea and Inspiration Engine for Local Advertisers

Finally, in every conversation with clients, bring ideas and inspiration to the table. You know your market and their business, so you’re an expert. Becoming their resource for local media advertising solidifies your relationship, so they’ll want to spend more money with you. Be prepared with at least three fresh takes on how they can accomplish their advertising goals. When you do, there’s a chance they’ll want to try one out.