The type of media buying strategy you choose depends on your goals and budget. Whether you want to increase sales or boost brand awareness, you need to buy ads in the right channels and at the best price.
Using the correct media buying strategies can make all the difference to your campaign’s success. So, take a moment to determine your goals and decide which strategy is the best fit for you.
Media Planning
Marketers have a variety of ways to engage their target audiences across channels. Having accurate, up-to-date data allows them to craft and deliver content that resonates with the right people at the right time.
When it comes to media planning, one of the key goals is to ensure that marketers are using the most cost-effective media channels. This means a lot of research, planning, and negotiation.
Reach and frequency are the two most important metrics to consider when evaluating media channels. They refer to how many people are exposed to an ad over a certain period of time.
Often, media planning involves running an A/B test on content to determine which format performs best with target audience segments. This can help brands and agencies find new winning combinations to deploy their media dollars.
Media Buying
Media buying involves purchasing advertising space and time on digital and offline platforms such as websites, social media, YouTube, radio and TV. It is a complex process that requires negotiating with publishers, managing budgets and optimizing ads to increase ad performance.
It is also important to understand the technology that powers media buying. This includes demand-side platforms that automate the process of buying ad inventory using real-time bidding auctions.
The main challenge for media buyers is to find the most effective ad placements within a tight budget. They must also be able to manage the media planning process and make adjustments when needed to ensure their campaigns are successful.
The first step in any media buy is to set SMART (specific, measurable, attainable, relevant and timely) goals for the campaign. These goals can serve as benchmarks to guide the strategy and help you prioritize ad placements.
Media Mix
The type of media you use to reach your target audience can be very important in boosting your overall sales revenue and profit. You can do this by using a variety of channels which will help you get a better and accurate idea of how to promote your product or service.
The first thing you need to do before using a media mix is to understand the goal of your campaign. Do you want to increase your brand awareness or generate more leads?
A media mix strategy can help you achieve this by combining the best platforms to promote your products and services. These can include TV, radio, billboards, online websites, and social media.
Media Monitoring
Media monitoring is a tool that tracks mentions of a company, brand or product across social channels, print and broadcast media. It can surface industry trends and impending crises.
It also gives a savvy communications team oversight of how their press releases and PR campaigns are received. It enables them to emphasise successful messaging, deflect negative publicity, undertake crisis management when necessary and target bespoke communication where it will be most effective.
This technology also empowers ad placement, ensuring that the most relevant and resonant ads are being shown to the right audience in the most effective way.
Media monitoring can help identify and mitigate risks by exposing any brands or vendors that have been associated with issues that could negatively impact your business. It can also identify public figures who may be a potential endorser for your brand, product or service.
