What are the strategies do you make while doing your business online, ever give an hour to your thoughts that what else could be the best things which you can do to make your work faster, cheaper and obtain maximum profit by spending less and earning more in an advertising agency.
Here, in this article, I would like to make things clear about the media buying, like how much do you pay your media buyers to make the ticket of your early retirement and what and how you could save your energy and money and yourself too if you sell the wrong media buyer.
We have heard from the very beginning that we get what we pay for specific things, this could be many things out of it.
If a person who is into the job of media buyer, the media buyer person knows well how to respond and how to give an annual profit by using their different strategies, like if you are a media buyer you know that very well that how you turn the tables by winning a perfect campaign for the company.
A media buyer is someone who doesn’t stick for a long time with one company if they come to know that what the amount of profit annually they are giving to the company, so pay what they need as per their work. Check the media buyer work and earn profits by giving them incentives, as they are the most important member of your team who can play well, so keep them for a more extended period.
In this article, I am going to discuss the top models of payments which you can use to pay a media buyer who will surely stick with you for a long term. But, remember one thing in mind that different people have a different perspective, background, and their work.
Here, I will discuss the top three models which I have used for paying Media buyers:-
- FLAT SALARY
Flat salary is good and bad, vice versa. If the media buyer which you hire is still in the learning process, the flat salary which means you set a fixed amount monthly or weekly. The day, when the performance of the media buyer becomes good, then they want a piece of profit out of the company’s gross profit, which is fair enough to give them. Now, what happens is some media buyers would be happy, but the others will not be happy because of the different perspectives.
On the other hand, flat salary is not regarded as good, but these two ways will always give you a fruitful result:-
1) Up-front prices
Up-front costs could be the best option to offer, look overall if you see an excellent media buyer will have lots of options available to them they can always get more than the amount which you will put forward, so what they say pay them as you are getting the result of their reaping. Make them happy and earn more than your expectations.
2) Incentives and Bonus
What is the work of a Media Buyer? They are good at sales, so they are obviously not working for any charity or in free, so offer a good incentive to them of their hard work so that they also create a more diversified interest in your overall work and show you the result which you always wait for.
Exceptions are Always Welcome in the Media Buying!
Now, here I will tell you how exceptions are good in the Media Buying, they are none the less the Junior Media Buyers, which are college pass out and searching for a job in this field or they are still into their graduation period. You know what’s the best part of them is you can offer them a low salary and gain the maximum output from their work.
- Offer the best rate of Commission
According to me, this model of giving the only commission to your media buyer is a good idea but sometimes it turns out to be a bad idea because what will happen if a particular moth turns out to be $0 earning then what you will give your buyer if you are working with them on the commission basis. So, set them the best commission of you earn between $0 to $50k give them 15% of the commission, and if you earn $50k to $100k then 20% and the last set should be for $100 is 30% commission which sets your pay scale with the media buyer in a perfect way.
- Salary and commission both
By offering them the salary and commission both obviously the employee loyalty gets increases, and that’s the best part which you can do is like if the person is hard working and working good for the company and the profit which company is getting up to the mark then you may offer like a $10k salary plus $15% commission.
I hope you liked the article and you will follow these three models and these would definitely help you in the long term and above all you can also pay according to the pay per performance, a person who wants to learn the affiliate marketing or a newbie you can use higher them instantly they will surely reap good and give you the best income as they are far more serious than the people of 1-2 years of experience. Above all, I will always recommend you the third model which I have described above which is salary and commission both which can set you and the media buyer goal up to your expectation as both the parties are happy.