Media buying: Why is it important for your brands?
Media buying is the process of purchasing time and space to manage, monitor, analyze, and adjust offline and online ads to optimize their performance.
That makes it easier for brands to reach the target audience within their budgets and offers customers a better experience to discover new products, services, or solutions that suit their preferences.
What are the required steps?
- Set your budget, target audience, and the desired metrics for your media buying campaign.
- Select ad placement channels and an appropriate creative plan, and agree on your campaign schedule.
- Bid for and secure the best ad placements
- Gather information from specialized tools or software to track the performance of the media buying process.
- Access analysis reports and check the success of your campaign to make the right decision.
- Customize algorithms for each media buying setting to suit your objectives.
What is the role of media buyers?
Media buyers should find a means to place relevant, targeted ads that achieve the goals of the set campaigns when buying ad space, whether they aim to increase conversion rates, increase sales, and/or promote brand awareness.
Media buyers are aware of which channels and time can generate the most interest, as well as how events and special occasions, like Ramadan, Christmas or an entertainment season may impact the ad placement process and pricing. Accordingly, they can make the best use of your advertising budget.
Meanwhile, media buyers are very good at negotiations and have a wide base of contacts in the media industry. Based on that, they can ensure higher brand visibility within your budget.
What are the types of media buying?
Traditional and digital channels can both be used in media buying. TV commercials, print ads in newspapers and magazines, and radio spots are all examples of traditional channels. Digital advertising platforms offer a far broader and more flexible selection of options, such as social media, pay-per-click, mobile phone, video, display, and digital-out-of-home (DOOH) ads.
Media buying can be mainly conducted in two ways:
- Direct buying: Media buyers build relationships with publishers to secure an ad space and choose the best time to display it.
- Programmatic buying: That is done digitally through specialized software.
Why are the benefits of digital media buying?
Digital media buying is more beneficial to both media buyers and sellers. It is more cost-effective compared to traditional methods as it targets an audience, who is actually interested in the seller’s products, services or solutions. Also, the performance of the campaigns can be easily tracked in real time.
If done correctly, digital media buying campaigns can get you the leads you want and exceed your expectations!
What is the role of the creative and content team?
The role performed by the creative and content team is very crucial in the media buying process, regardless of the platform you are using. The content and design of the ad should be of the highest quality to get the desired rankings and reach the target audience at the right time.
Are you still wondering why media buying is that important? Learn more about the process and secure your place among competitors to run successful media buying campaigns through our talented team in GetSircles!