Media buyers get brands in front of their target audiences by purchasing ad space on ad networks, websites and other media spaces.
The goal is to place ads in the right context and at the right time to attract users to your brand and convert them into customers. The process can be a bit complex, but there are some key points to keep in mind as you navigate this process.
Media planning
Media planning is a key component of any media buying strategy. It involves identifying your goals, conducting market research, and developing a strategy to achieve those objectives.
It also includes determining which media channels will be most effective in delivering your message to your audience. This can include social media, email, websites, and more.
Moreover, it also involves understanding your target audience and their needs. You can do this by creating buyer personas, which are detailed profiles of your potential customers.
This will help you create content that resonates with your audience and entices them to become a customer.
Whether you are a solo agency or part of a larger marketing team, it is important to keep your media plan in mind when designing and executing advertising campaigns. This will ensure your message is delivered in the most effective manner and that you are meeting your goals.
Media buying
Media buying is the process of ensuring that your ad creative is placed in the right context and in the best formats at the right time to help you achieve your marketing goals. These goals can be anything from increasing conversion rates to improving brand awareness.
Media buyers work closely with the media planning team to identify the best channels for their clients’ or brands’ advertising needs. They then negotiate with the chosen outlets to finalise an advertising deal.
During the negotiation process, media buyers use the information provided by the media planners to connect with sales executives at the relevant channels and negotiate about placement, price, and timeframe. Some of the tactics they use include PPC campaign launch ad platforms such as AdWords, programmatic media buys to find the right ad space for the right consumer profile, and direct buys with specific advertisers.
When negotiating, media buyers should avoid zero-sum negotiations. This is a bad strategy because it can ruin the ongoing relationship between a media buyer and vendor. Instead, they should use integrative negotiations. This method ensures both parties get a good deal, while keeping the relationship strong.
Media optimization
Media optimization is a process that enables marketers to understand how to effectively reach their audience across the right channels at the right time. It allows them to focus more time and resources on campaigns that resonate with their core consumers.
A major challenge for many marketers is acquiring and analyzing the data they need to optimize their marketing mix. This requires a high degree of data literacy—the ability to evaluate and act on the information yielded by attribution models and marketing analytics platforms.
Choosing the right attribution model is crucial to gaining an understanding of how to optimally allocate budgets. Marketers also need a marketing platform that has the processing power to deliver granular insights on campaign performance while it is active.
Media tracking
Media tracking is the automated process of scanning the internet for mentions that contain your keywords. It’s a powerful way to get an overview of your media coverage and analytics.
For many, media monitoring is about keeping tabs on their brand’s reputation and how it is perceived in the market. For other businesses, it’s about tracking the performance of their marketing campaigns and identifying their biggest supporters and detractors.
The most important thing is to choose the right media monitoring service. A good one will help you separate the wheat from the chaff and give you the most actionable insights.
After you have set up your media monitoring project, make sure you spread the insights across your team. Whether it’s a customisable media monitoring report or a dedicated Slack integration, you want to make sure everyone involved gets the news they need.