To say that media buying and planning has changed in the past 20 years is an understatement. Technology has changed this essential aspect of advertising and marketing strategy as much as it has the way we shop, work and connect with others.
Digital Media Buying Guide
While media buying has always been integrated across available channels, today the process is integrated across practices into activities that used to be considered separate. Technology has intertwined social media, blogging, PR, communications and branding such that media planning and buying must take all of them into consideration. It has also enabled targeted messaging to custom audiences at a deeper level than in the past.
As you follow up on leads and activate your sales team to close those leads into new customers, media buying and planning can help to keep your brand top of mind. Tactics that deliver value to the customer and educate them on what differentiates your brand will prove to be most successful during this stage. Those tactics may include:
OBI Creative is a full-service advertising agency, which means we have the talent and expertise to handle placements of all traditional and non-traditional media, including television, radio, audio, digital, OTT (over-the-top/streaming), social media, OOH (out-of-home) and print/publications.
Not every agency is skilled in performing effective media placements in both traditional and digital media. Thankfully, our media buying team has more than three decades of experience executing successful media buying strategy and placements.
All of our marketing services, including social media management and search engine marketing are handled in-house, which is something you want to look for should you decide to engage the services of a firm to help you with your media buying planning and digital media strategy.
All media buying efforts should be focused on increasing your conversion rate and decreasing your cost per conversion. Set SMART (specific, measurable, attainable, relevant and timely) goals at the start of your campaign to serve as benchmarks for your media buying strategy and to guide the implementation of your tactics.
Paid search campaigns generate the highest click-through rates of any digital marketing tactic, so it only makes sense to include PPC advertising as part of your media buying and planning process. A successful PPC campaign follows a three-step process:
Once your placements are made and your campaign is in full swing, your work is not done. In addition to honing your campaign efforts and making any necessary adjustments, you want to evaluate all of your media invoices and cross-check them against insertion orders to make sure you received everything you were promised during media buying negotiation.
Media buying is the process of purchasing ad space and time on digital and offline platforms, such as websites, YouTube, radio, and TV. A media buyer is also responsible for negotiating with publishers for ad inventory, managing budgets, and optimizing ads to improve campaign performance.
Media buying and media planning fall into the same category but are two different processes. While media buying focuses on getting the most impressions from the right audience at the lowest cost, media planning focuses on the strategy behind the campaign.
During the planning phase, you determine what media will be most effective to reach a particular audience. So once media planning is complete, media buying follows. It's also important to note that media planning isn't solely for advertising, it's for any media a brand puts out there.
With digital media buying, or programmatic buying, buying impressions is automated. The negotiation still technically happens but it's done at a much quicker rate through open and private marketplaces.
Digital media buying can be more cost-effective and allow teams to focus on ad performance instead of back-and-forth negotiations. However, with the latest restrictions on cookies and Apple's AppTrackingTransparency (ATT) rollout on iOS 14, it's unclear how that will affect the media buying space.
Inside the Google Marketing Platform, you'll find Display & Video 360. Originally DoubleClick Bid Management, DV360 integrates seamlessly with Google Analytics and other Google products. So, if your team is already using those tools, this may be the right media buying tool for you.
When buying media, no ad placement is accidental. It does involve some trial and error as you get started and the optimization process will last throughout the campaign. However, once you have a strategy to follow and an intuitive platform to track performance, this will result in effective ads that meet your marketing objectives.
Media buying is a process used in paid marketing efforts. The goal is to identify and purchase ad space on channels that are relevant to the target audience at the optimal time, for the least amount of money. Media buying is a process relevant to both traditional marketing channels (television, radio, print) and digital channels (websites, social media, streaming). When done effectively, media buyers achieve maximum exposure among their target market for the least amount of spend.
Media buyers oversee the media buying process, with input from the media planning team. With an understanding of marketing goals and target audience preferences given by the media planning team, media buyers execute the actual purchase of the advertisement space. A huge part of the media buyer position is negotiating with the sites, networks, and other channels they want ads to appear on. They must ensure they are purchasing the correct placements at the correct times, for the correct duration, all within strict budgets.
Effective media buying goes far beyond the actual transaction of money for ad space. Media buying teams can create impactful relationships with media owners that result in greater reach with less investment. This enables marketing teams to increase conversions and demonstrate high ROI to clients and stakeholders.
As with all marketing initiatives, investing in experienced media buying teams and processes means demonstrating value. To do this, media buying teams need analytical capabilities that allow them to attribute conversions and KPIs back to a specific ad. They also need access to real-time metrics in order to make in-campaign updates to ads that are underperforming. The top challenges when it comes to media buying are:
Media buying is highly nuanced, with a lot of pressure placed on acquiring the optimal ad placement for customer experience and conversion. By staying abreast of top media buying strategies and negotiation tactics, media teams can better optimize spend and strategy.
Most of us have some awareness of TV media buying, the process by which advertisers purchase time to run their commercials, but the media buying definition covers a much wider spectrum of media purchases than even that.
When engaged in direct buying, a media buyer reaches out directly to a specific publication, website, or other advertising entity to hash out the price and other details of their desired ad placement. Direct buying can, therefore, be more customizable than other methods of bulk or targeted media buying in advertising (like programmatic media buying), but it can also be significantly more time-consuming.
Though they may seem different, the practices of media planning and buying are connected on a fundamental level, so much so that the process of media planning could be considered the first and arguably most important step in the process of media buying itself.
In other words, if the media buying definition encompasses the entire process of purchasing ad space, the media planning definition would encompass the entire process of selecting which ad space to purchase.
And modern media buyers come in many forms. There are large media buying agencies, small media buying companies, and even online digital media buying platforms designed to facilitate direct media purchases by brands or advertisers.
Take the time to keep an eye on the cold hard stats. This affords media planners and buyers the opportunity to change their media buying strategies mid-stream, so that they may be able to correct errors in their initial plans before too much damage is done.
Programmatic ad buying is the use of software to buy digital advertising. While the traditional method includes requests for proposals, tenders, quotes, and negotiation, programmatic buying uses algorithmic software to buy and sell online display space.
Digital media buying or programmatic buying, buying ad impressions is automated. The negotiation step is conducted automatically in real-time through digital marketplaces. This automated buying structure has three main components:
An effective media buying strategy can affect the bottom line of the company. It goes beyond the simple act of buying ad space. Selecting which channels will have the most impact on the audience while ensuring the advertiser pays the lowest possible costs is the ultimate goal of a good media buying strategy.
Media buying and planning are two different stages of processes. A media buyer focuses on getting the most impressions for the lowest cost. Media planning determines what channel is best for reaching the target audience. The media planner is the one behind the campaign strategy.
A large chunk of any digital marketing budget will go to online platforms like social media and search. Media planners and buyers should collaborate to optimize spend according to the media mix and frequency.
One of the fastest-growing types of media buying today is considered digital media buying. Internet advertising takes a more important and fundamentally new role in the modern business and life of ordinary people.
The price of buying publications on outdoor advertising media (street, transportation) depends primarily on location, the size of the construction, and the material of which it is made. Accordingly, the cost of promotion of the company in print media is higher in the main regions of the country and the popularity of the media.
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