Media Buying and Planning
A short glimpse into history
Historically, media buying and advertising evolved in tandem. We can trace the first cases of contemporary advertising back to the 16th-18th centuries, when publishing shops appeared in Europe. Before that, ads emerged as symbols, signs, logos, trademarks, billboards, sign-boards, and banners. Word-of-mouth advertising existed as well, introduced by town criers, actors, peddlers, and hawkers.
With escalating technological progress, marketing and commerce have undergone a significant metamorphosis. Introduced by Boston Computer Exchange, e-commerce online marketing came into view in 1982, followed by well-known giants like Amazon and eBay. With an extra virtual dimension for marketing and trade, advertising regulations and methods have experienced substantial change.
Both historically and in the modern world, there are certain requisites for running a successful ad:
- Perfect placement and location
- Reasonable price
- Professional staff
- Targeted audience
For centuries, ad placement and audience have both played a crucial role in marketing and sales. But today, the ever-evolving market offers different perspectives on the selection criteria of ad placement and prospective customers. With the help of new Internet technologies, marketers can directly approach the desired population, saving large amounts of money and increasing profits.
What are Media Planning and Buying?
Media buying is an incremental and rigorous science for choosing top locations for sales campaigns and product promotions. Placing appealing content in high traffic domains is guaranteed to increase profits. In simple terms, media buying is about acquiring ad placement space.
Popular ad placement realms include:
- public spaces
The most attractive ad placement venues in our digital world are social networks such as Facebook, Tweeter, Youtube, Linkedin, and Instagram, where millions of people are exposed to ads 24/7.
Other smart marketing strategies use websites that people enjoy and respect, such as news platforms, e-magazines, travel sites and other popular platforms.
Media planning differs from buying in that it studies people and their preferences based on culture, buying history and demographics. Products can be modified and adjusted to suit the needs and preferences of future consumers. Media planners research social websites and Internet communities, and decide where and how frequently to position ads. They also calculate details such as:
- Number of people to reach
- Advertising campaign costs
- Cost-effectiveness of targeting large audiences
- Collaboration with the marketing team
The buying and planning components of advertising fit together like puzzle parts, being interrelated and relying on each other throughout the advertising campaign process. Professionals from both areas share knowledge for running mega promotions and boosting conversion rates.
The Media Buying Process – how it works
The innovative media buying and planning process covers marketing philosophy and search engine algorithms, with prime strategies and tactics for best practices. It answers two primary questions: What is the goal, and how do we achieve it? The process lays a foundation for quality-driven practices. For example, the goal may be to increase conversion rates and sales, and the “how” may be achieved with PPC services and stellar content.
The media buying process encompasses the following elements:
- Inbound marketing philosophy: Attract, Convert, Close, Delight
- Step-by-step progress
- Top strategies
- Helpful tactics
Inbound marketing is a custom-oriented approach. It attempts to attract customers by providing engaging and exciting content like fascinating stories, interesting videos, webinars, well-crafted ads, or valuable user-experience data. This holistic consumer-oriented worldview consists of four points that make up the cannon of media buying services:
Attract – Entice ideal customers to desired locations by offering insights about suitable merchandise. The ideal customer is someone looking to purchase a particular product. A buyer persona is a model representing an ideal consumer. Buyer personas, or marketing personas, encompass the traits intrinsic to real-life shoppers. Marketing persona profiles require extensive marketing research on geographical locations, statistical data, surveys, psychological characteristics, individual habits, goals, and motivations.
Convert – Conversions rely on information exchange. Prospective customers provide email addresses, phone numbers, or home addresses in exchange for instructional or engaging content. Sending promotional text messages or emails can drive more conversions.
Close – Immersing customers in exciting, powerful, and stimulating content about their favorite subjects or products takes things a step further. Closing entails careful analysis of materials that customers download or sign up for during the conversion phase.
Delight – Ongoing nurturing fosters long-term client retention. Companies pamper and reward their customers by sending thank you notes or invitations to promotional events, making customers a part of their business community and prompting further purchases. Some businesses even send their loyal customers free samples and gifts.
Step-by-step media buying pr is a template for media agencies to carry out organized and successful campaigns to boost sales. This plan progresses from targeting your audience to placing your ads. Carefully fulfilling each step brings top results:
- Target your audience
- Conduct in-depth analysis of likes, dislikes, and interests
- Study your consumers’ habits (Are they likely to follow your offer? What is the perfect time frame?)
- Dazzle your audience with engaging content about desired products
- Be flexible and agile by changing your strategies and tactics to obtain fruitful results
Strategizing is a universal concept geared to accomplishing specific goals for a defined purpose. Media buying strategies require an in-depth understanding of the media buying funnel. A classic marketing model is the 4 Ps:
- Product (deep knowledge of a product’s life cycle is vital for successful sales)
- Price (cost varies depending on location, time of year, customer retention factors, and other variables)
- Place (ad locations can vary from classic print and media to social networks)
- Promotion (includes a wide range of variables from SEO and PPC to outreach campaigns)
Tactic is a popular word in the marketing world. While “strategy” is more or less theoretical, “tactic” implies direct action. By executing smart tactics, marketers hope to attain their goals. Some media buying tactics are:
- value-based pricing
- digital display advertising
- SEO and PPC
The 4 Ps apply to all areas of marketing. With SEO and PPC, tactics play a central role. Media buying companies put great emphasis on product promotion. Without SEO, a product can become buried and abandoned in the nether pages of search engines. SEO is not a one-time service; it requires ongoing maintenance to satisfy evolving search engine algorithms.
Pay-per-click advertising (PPC) relies on customers to click on ads posted on social platforms or websites. Businesses pay a certain sum, but only when a user clicks on an ad. Costs vary, depending on the industry and the popularity of a given website or network. On average, Facebook and Google ads cost from $1-$2 per click. PPC services include:
- Account upkeep
- Setting keywords
- Price bidding
As easy as it sounds, PPC bidding tactics can be quite complex. It is sometimes smart to bid higher, display your product more frequently, and outbid your competitors. To automatically lower your bids, you can manipulate keywords and create themed ads. Today many digital marketing firms offer outstanding SEO and other media buying services.
SEO tactics are integral to successful marketing. With structured and quality SEO, companies can optimize their content and obtain high rankings on search engines. Some SEO tactics include:
- Engaging and relevant keywords
- Properly located keywords
- Smart backlinks
- Fast page loading speeds
- Breathtaking content
- Website structure enhancement
A well-laid-out site structure is vital for SEO. Crawlers or web-spiders constantly monitor SEO day and night. If a website has structural issues, crawlers cannot access certain parts of the website. By contrast, well-structured pages are optimized with higher efficiency. Page structure is a pivotal factor for SEO ranking, and that’s something that businesses should keep in mind when designing their websites.
How Media Buying Agencies Make a Difference
Media buying agency services help businesses create profitable and favorable ads and place them in locations that maximize their sales. An inspiring ad placed in a perfect spot will boost your conversions and sales by leveraging top-notch strategies and tactics. Agencies provide operational excellence for your business with a team-oriented approach that has numerous benefits:
- fast problem-solving techniques and strategies
- best digital tools, software, and equipment
- latest media buying platforms
- top-notch SEO services
- captivating and winning content
- best planning and placement services
Advertising is never about a single ad placement. Today’s digital marketplace is agile and often fluctuates, making media buying and planning a never-ending process. You will most likely replace your ad multiple times in a given time frame, to deliver top-notch results. Pay-per-click and other useful tactics operate on an ongoing basis. Consistency and perseverance are chief requirements for digital advertising success.
Leave it to the Pros
With tech advancements integrated into contemporary mainstream marketing, media buying agencies can directly target and approach your ideal audience, consumers who are a good match and are specifically looking to buy your product. With high-quality tools and a progressive mindset, marketing professionals will place your ad, drive high traffic, and convert your leads into happy loyal customers.