Media Buying for Your Marketing Campaigns

Advertising is the most powerful and influential tool marketers have to get their messages in front of the public. Advertising, one of the core 4Ps that make up marketing (the others are product, price, and place or channel), builds a positive brand image, reminds consumers of the attributes of your brand, seeks to motivate consumers to buy, and reminds customers your brand still has value in satisfying their needs. Advertising shows them your products and services in a positive light, and if they like what they see, they buy it! Advertising sounds simple, but these days, with so many media channels instantly available for brands to use (both digital and traditional advertising platforms), reaching consumers with a message that converts is harder than ever. Add to that the noise created by the increasing number of ads the average consumer sees daily, currently estimated at 10,000, and it’s harder and harder to reach your target market with a message that sticks. The question isn’t just “Should we buy an ad to promote our product?” anymore; it’s now “Where will the most people see our ad? There are so many options!” It’s all become a very complicated process as the media landscape is constantly in flux, and what was ‘big in Japan’ yesterday is forgotten by tomorrow as the focus shifts somewhere else! That’s why media buying is as important today as it was in the days when traditional advertising was your only option, maybe even more important.

design an effective mobile adSo, how do you navigate this tangle of potential and feel confident that your ads show up in the right place in front of the right people and can cut through the noise created by other content? Now, consider you must reach your target market with that message between 7 and 12 times before you actually motivate a purchase, although some estimate it takes as few as three touches. The best way to achieve this goal is to get the help of experts by contacting the media buying agency in Sydney, whose professional staff tracks every movement of the media world and knows exactly where the sweet spots are for running your ads!

So, what exactly is media buying, and how does it work?

Media buying is the practice of purchasing media space to run advertisements on offline or online platforms. The experienced media buyer has the know-how to correctly identify what media channels are currently in play as being the most relevant to the advertiser’s target audience at a price point they can afford. It’s a game of balance, and the floor is constantly shifting, so it’s important to move fast with confidence!

When everything works properly, the media buyer’s pick is the right one, and the advertiser’s brand receives lots of attention from the potential customers they are trying to attract. The campaign’s success can be measured by how well it fulfills the advertiser’s expectations. The following are some common goals that advertisers list when using the media buying process:

  • Improve public awareness of the brand in avenues that are in addition to search engine optimization and other methods.
  • Increase conversion rates with ad retargeting as an additional tool.

    Google Ads conversion rate
    Image courtesy of Forbes
  • Generate interest in an upcoming product launch or sales event. One way to do this is by using social media pay-per-click ads to obtain sign-ups for the event.

In some ways, media buying is a lot like investing in real estate! Your company engages the services of a media buying agency that has intimate knowledge of the current marketing landscape and is able to use that knowledge to negotiate on your behalf to obtain the best deals on a variety of media such as radio and TV channels, newspapers and magazines, social media platforms, and any other kind of media “real estate”! Sure, you could attempt to buy and sell “property” yourself, but an agent is going to get you the best deals, and that adds up to greater profits for you!

Some examples of media buying

We have already touched on this, but let’s take a closer look at a few examples of media buying:

Out-of-home

These are real-world, physical advertising venues like the purchase of space on public transit, billboards, signage in shopping malls, posted flyers, and other places easily visible to the public who happen to be passing by. Another great example of this is hiring people to hand out free gimmick items like ballpoint pens, balloons, cup cozies, etc., with your logo and brand info printed on them!

Digital

This is the purchase of advertising space in the digital world, such as social media platforms, websites, email campaigns, and popular search engines the target audience uses regularly.

Some of the great advantages of digital advertising are:

  • low cost
    cost per impression
  • high conversion rates
  • targeting – tools on digital platforms allow various tools to generate a highly targeted audience for your ad that matches your target market

Radio and television

This tried-and-true approach involves buying airtime on radio and TV networks during advantageous times of the day or playing during popular programs your target audience will likely be tuned into.

Both radio and television have problems reaching your target market, especially if you target younger consumers. In terms of radio, many younger consumers prefer streaming music or ad-free options that make it difficult to reach them through this channel.

Meanwhile, television advertising suffers from a similar preference toward streaming options for many consumers, with others choosing to view programming through devices that allow them to skip through advertising. Broadcast television advertising is also very expensive, which makes spending on ads that show during sporting events a better bet, as viewers choose to watch sports in real-time. Buying ads on streaming platforms is a good bet as many streaming platforms increased the price for ad-free options.

Print media

Traditional print media has been falsely reported as dead when, in fact, it is still going strong and deserves attention! It’s true that newspapers and magazines have lost some readership due to the ease of accessing news and information on the web, but they still reach millions of people a year! Magazines, especially the online versions, are also a great way to target consumers most likely to make a purchase.

Mobile

An extension of digital media in many ways, but one that is constantly evolving and attracting scores of new users daily! Wherever people go, their mobile device goes with them, and so do your ads!

The media buying process

As it is with obtaining so many of life’s objectives, your first and best course of action is to establish a clear, detailed goal as to what exactly you intend to accomplish with your media buying strategies. These stated goals might involve securing leads and installs, driving up page views, or improving conversion rates. Once your goal has been decided upon, you can follow these steps:

  • Buying strategy: What media will you be buying? Begin by setting a budget, identifying your target audience, and choosing the metrics that will measure the success of your marketing campaign.
  • Planning: Now, decide on the media channels you will use to place your ads and figure out the schedule for deploying your campaign.
  • Placement—This is the point where your media buying agency will negotiate with potential publishers on your behalf or use their extensive knowledge of media buying software to make bids on available spaces.

Conclusion

Good luck with your advertising campaigns! Whether you choose to use an agency to help with the process or go it alone, I hope this post helps you. Let me know how it goes by posting in the comments below.

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