Print and digital media outlets typically offer two main types of advertising space to companies: premium advertising and remnant advertising
Both are perfectly viable options that can help to grow and established brands reach their advertising goals. Premium inventory is defined as highly sought-after ad space that’s usually sold at a high or premium price. This type of ad space is typically sold fairly quickly to companies with large revenue streams. Remnant advertising, aka remnant inventory, on the other hand, is leftover ad space that a media company isn’t able to sell within a certain timeframe for one reason or another.
What Happens to Remnant Advertising Inventory?
Ad space that’s unsold at a premium price gets significantly marked down in an effort to entice small businesses and companies to purchase it within a short timeframe. Marketing companies would rather make a minimal profit than lose money on the ad space altogether. If the ad space isn’t sold in time for publishing or broadcasting, then a filler that doesn’t generate any revenue such as a public service announcement or in-house advertising is used to fill the spot.
Remnant advertising inventory is, however, a worthwhile investment for small businesses that can’t afford premium ad space because it still gives them at least some exposure.
How You Can Make Remnant Advertising Work for Your Business
Don’t think of remnant inventory as rejected advertising space. Instead, think of it as an opportunity to get moderately decent advertising space for a great price. Here are some of the ways that you can enhance the quality of remnant space advertisements for your business.
- Create targeted ads. Start by getting to know your target audience. Perform extensive market research that helps you identify your key demographics and find unique advertising methods to reach out to them. Whether it’s print, digital, or TV advertising, remnant inventoryis a cost-effective market research solution.
- Emphasize and encourage audience engagement. Audience engagement is the key to garnering brand awareness and loyalty. Giving your audience custom-tailored incentives to support your brand keeps them actively engaged in everything you do.
- Don’t put all your eggs in one basket. Remnant inventory isn’t meant to carry your entire marketing strategy. Instead, it should be included as a piece of the much bigger picture. Use it as a low-cost supplementary form of advertising to bolster your overall marketing strategy.
- Hire a media agency that hires remnant ads for businesses. Professional media agencies have the expertise and resources to connect you with affordable and appropriate remnant advertising opportunities that are a good fit for your business.
At North American Media, we believe in the power of great advertising. Our team specializes in a variety of advertising mediums including direct mail marketing, television and radio broadcasting, print advertising, and digital marketing. With our in-depth knowledge of media marketing, we can help your business secure low-cost high-quality remnant ad space that fits your budget and advertising goals. Contact us today to learn more.