Final answer:
The first step in optimizing paid media campaigns should be refining targeting options to ensure ads reach the right audience, which can lead to more efficient budget use and potentially higher conversion rates.
Step-by-step explanation:
The first step you should take to optimize your paid media campaigns is c) Refining targeting options. This approach allows you to focus your advertising efforts on the segments of the population that are most likely to be interested in your products or services. Refining targeting options can lead to more efficient use of your budget, as it helps to prevent spending money on showing your ads to people who are less likely to convert into customers.
Once you have a well-defined target audience, you might consider adjusting the budget allocation to ensure that your ads reach as many potential customers as possible within that group. Also, continually tweaking the ad copy and monitoring competitors' campaigns can provide insights that help improve the performance of your paid media campaigns over time.