Media Buys and Budget...

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Secret Machine

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With the new media buy section thought I would give some advice that might help someone out... if you are looking to start out with media buys make sure you have a decent budget that you are comfortable with losing, it takes money to test and sometimes even with a lot of testing you might have trouble getting campaigns profitable. "Decent Capital" is subjective but a number I would consider is something like 2k-3k ,a good number to get started with, this is still pretty low when it comes to MB's....I am not saying you can not be successful with less,you definitely can, but with these numbers you will be more comfortable testing and learning.
 
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Damn I am a complete NOOB when it comes to media buying and certainly do not want to throw away $2k-$3k right off, so I guess I will have ALOT of studying to do before I begin. Thx!
 
social1 said:
Damn I am a complete NOOB when it comes to media buying and certainly do not want to throw away $2k-$3k right off, so I guess I will have ALOT of studying to do before I begin. Thx!
Click to expand...

Same here, but what exactly do the 2-3K get invested INTO? Is there a breakdown for that figure?
 
Agreed, anything less than a few k will either get blown right away, or you will bleed tiny amounts with each campaign and stop it before having any data, because you simply can't afford to keep it running. Having a low budget will also keep you afraid of losing money, and making decisions based on fear is a sure way to fail.

Unless you have a good mentor, media buying can be amazingly difficult and cost-consuming, my worst experience up to date is spending $10 to make $70(3 sales), deciding it's a winner and then proceeding to spend a few hundred bucks optimizing and waiting without a single further sale. Getting a %0.5 CTR on a certain banner for a few days and then having it drop to %0,02 isn't out of the ordinary either. Not to mention SiteScout, which in about 70% of your campaigns will give you no impressions at all, without your banners being denied or anything. I guess that 3 hours I spent designing the banners color scheme to fit the traffic source went to waste. It will also keep spending money after you pause your campaigns which depending on the traffic source can cost you a lot.

That said, if you have nerves of steel, patience and a lot of money to blow, media buying is the most scalable model and that's where you should spend your time (and money).
 
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alexa_s said:
Agreed, anything less than a few k will either get blown right away, or you will bleed tiny amounts with each campaign and stop it before having any data, because you simply can't afford to keep it running. Having a low budget will also keep you afraid of losing money, and making decisions based on fear is a sure way to fail.

Unless you have a good mentor, media buying can be amazingly difficult and cost-consuming, my worst experience up to date is spending $10 to make $70(3 sales), deciding it's a winner and then proceeding to spend a few hundred bucks optimizing and waiting without a single further sale. Getting a %0.5 CTR on a certain banner for a few days and then having it drop to %0,02 isn't out of the ordinary either. Not to mention SiteScout, which in about 70% of your campaigns will give you no impressions at all, without your banners being denied or anything. I guess that 3 hours I spent designing the banners color scheme to fit the traffic source went to waste. It will also keep spending money after you pause your campaigns which depending on the traffic source can cost you a lot.

That said, if you have nerves of steel, patience and a lot of money to blow, media buying is the most scalable model and that's where you should spend your time (and money).
Click to expand...

I know that getting into media buying isn't cheap, but is it really 2-3 K expensive? I mean, from a purely objective point of view, why wouldn't someone with 1K be able to get into the game, split test and make back their money (at least enough to reinvest again until theycould increase their ROI a bit the second time around)?
 
I disagree with OP cuz you dont need money in k to test waters wid media buys a few 100 bucks are enough
 
As a newbie, it's not like you will spend 50$ and make $40, then spend 200, make 150 and go damn I am not profiting, no you can easily blow through a few hundred without even finding a reasonable CTR ad. I would strongly encourage people to save 2k for getting into MB. Sure, if you have a great idea for your own product targeted for a particular audience, which you know is going to kill go ahead and test it, but assuming you are doing the same old affiliate stuff (and even direct linking) don't expect miracles and brace yourself with a high budget and patience.

Before you have the money, focus on brainstorming and think of angles, and obviously focus on making money so that you have the budged needed.
 
Getting in to Media Buy or Gogole Adwords. both Need Time, Money ,,Testing and Once you Become Perfect you recover Easily all you invested. If you not able to learn from your Testings and $$$. You should not try. As Media Buy is like Xrumer..Not all can easily run it and one's who learn it properly earn through out Year without any problem.
My Suggestion, To start with 100$-300$ Maximum Per Month in Media Buy for 2-3 Months. Learn from it. That way, you will learn Better. It took me First time around 5 Months to learn Xrumer. and for Media Buy It took me 2-3 Months. I still Not perfect in Media Buy but Yes Enough to make profit from 1 Campaign.
 
Hi
I'm thinking about getting into media buying this summer. By then i will have around 7k $ saved up. Would it be enough to start making money with media buys?
Of course on a condition that i would do tons of research and would work my ass of. Loosing this money wouldn't put me on the street however i worked hard to make this money so I don't really want to loose it all.

Also what skills are needed for media buying besides ability to thinking analytically. From what I understand I would need to be able to create eye catching banners and landing pages as well as be a good copywriter. Is that right? Or can I just outsource this stuff?
 
Thanks for the tips everyone. I am about $500 into my media buy spending and I have made 0 sales. No problem, I am going slow trying sitescout, mmedia, and others. I am already switching to my own product or a lead gen model for a financial product. I figured I would spend some $2K learning media buying and I just consider it cost of doing business.
 
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