Media buying is the process of purchasing and arranging ad space to reach your target audience. This process is necessary to stand out in a competitive market.
It is an extensive process that requires thorough research and careful planning. It involves identifying the target audience, budgeting and choosing the right medium.
1. Know Your Audience
Getting to know your audience is key to crafting engaging content. It can save you time and money, and help you avoid future headaches.
Whether you’re writing a sales letter, memo media buying tips, blog post or marketing copy, the first step in drafting is to identify your audience. It may be a specific group, such as current or potential customers, or it might be an umbrella term, such as “everyone.”
Then, create segments within the audience you’re targeting. For example, if you’re writing about the challenges of marketing online, you could segment your audience by age, location or demographics.
Then, use your findings to craft a message that is relevant and appeals to your audience. This can be a great way to engage your target audience and drive conversions. It’s also a great way to build your brand and increase loyalty among your audience. This will lead to long-term success and grow your business. Ultimately, knowing your audience is a critical skill for all marketers.
2. Know Your Budget
One of the most crucial elements to a successful media campaign is a budget. When properly managed, a robust budget can push your spending toward the most successful channels and save you from wasting money on unprofitable efforts.
To reach your budget, be sure to research which channels and formats are most likely to help you achieve your marketing objectives. This is especially important when it comes to top of funnel tactics that build brand awareness and drive traffic to your website or brick-and-mortar store.
Once you know your budget, send RFPs to media outlets and decide on a mix that will get you the results you’re looking for. Be realistic and consider all of your options, including value add-ons like banner ads, extra airings on certain channels, and other perks to help you get the most out of your investment.
3. Know Your Media Channels
Choosing the right media channels is an essential part of a successful marketing campaign. It’s about creating a web of messaging and engagement that allows the right audience to follow your brand wherever it goes, from TV to the web to mobile phones.
The type of media you choose will depend on your brand and, importantly, your budget. Broadcast channels like television and outdoor reach mass audiences, while narrowcast channels such as specialist print and events target specific customer segments.
Digital channels focus on a more one-to-one connection with customers. They can be led by search engine marketing, social media content or display advertising.
Whittney Hines –Digital Marketing Specialist at FranFund – suggests choosing two or three channels and posting high-quality content consistently rather than spreading yourself too thin on a large number of networks. Quality always trumps quantity, she says, and it’ll give you a better chance of getting people to take action on your message.
4. Know Your Options
In the world of advertising, there are many ways to get your message across. The right mix of media channels can make the difference between a mediocre campaign and one that delivers results. The best way to ensure your strategy hits the mark is to research your options in depth. A smart buyer will consider the cost of the media, what their audience wants to see and how to match that with ad space in order to maximize ROI.
This is particularly true for media buys that require a bit of legwork, such as radio and television. Knowing your options will help you decide what’s most important for your budget and your objectives, while minimizing the time spent on red tape. It’s also the best way to make sure you don’t miss out on a winning bid.