Media Buying ((BETTER))
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
It's not like social media where users come and find you. It's an outbound strategy that is only effective if you have a well thought-out strategy. Rex Gelb, director of advertising and analytics at HubSpot, says one of the biggest mistakes brands make is not thinking through their marketing goals.
"Some ad placements might be good for one set of goals, but bad for another. Let's say you're an airline and your focus is impressions and awareness, rather than an immediate sale, you can buy a placement that is known to get cheap impressions," he said.
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.
So what about ad networks? Well those platforms aggregate ad inventory from various publishers and match them to advertisers' needs, serving as intermediaries. Think Google Adsense and Facebook Audience Network.
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.
Using the same vegan dessert company, let's say they launched an ad campaign through Google's ad network. They are using two static image ads and one video ad. After one week, they notice that the video ad is significantly outperforming the banner ads. The media buyer can decide to reallocate funds to that ad type and placement as it is generating better results.
A media buyer's job is to maximize ad potential while staying within the budget. As such, if the ad isn't delivering on expectations, adjustments can and should be made during the length of the campaign.
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 refers to the procurement of advertising on mediums such as a television, newspapers, commercial radio, magazines, websites, mobile apps, over-the-top media services, out-of-home advertising etc. It also includes price negotiation and the appropriate placement of ads based on research to reach the right audiences considering the product, service and message being advertised. A media buyer is tasked to perform such activities.
Rates, demand of leads, space, and time, and state licenses vary by state. National media buyers need national media planning to generate national media marketing strategies and national media advertising that can be adaptable from area to area but also work on a national level.
There is an apparent distinction between general marketing media buyers and direct response media buyers (DRMB). General market media buyers enact or actualize media plans drawn up by media planners. They negotiate rates and create media schedules based on a media plan constructed by a media planner. Through the media planner, general market media buyers rely on published cost per point guides. An experienced DRMB knows which stations generate a specific quantity of response and knows within reason, the break even point of the expenditure versus the return. With that information, the DRMB is efficient in negotiating a functional rate and in purchasing media from the appropriate stations.[citation needed] The DRMB attaches unique phone numbers to each station they purchase media from and track the sales, and make adjustments to the media plan and schedule as necessary to optimize results. DRMB can be short-form or long-form, although long-form is becoming increasingly unpopular. With these differing methodologies, direct response marketing can be considered a specialized arena - although some agencies considered to be DR-focused also execute and implement general deals.
Media research planning can be done by media buyers as well as media specialists. Depending on product and service, Media Buyers and Media Specialists must do a fair amount of research to determine how best to spend the allotted budget[citation needed]. This includes research on the target audience and what type of medium will work best to reach the largest number of consumers with the most effective method. Media planners and media specialists have a vast array of media outlets at their disposal, both traditional media and new media. Traditional media would include radio, TV, magazines, newspapers, and out of home. New media might include satellite TV, cable TV, satellite radio, and internet. The internet offers a number of online media channels that have surfaced with the improvement of technology and the accessibility of the internet. Online Media can include social media, emails, search engines and referral links, web portals, banners, interactive games, and video clips. Media Planners and Specialists can pick and choose what and/or which combination of media is most appropriate and effective to achieve their goal, whether it is to make a sale, and/or to deliver a message or idea. They can also strategize and make use of product placements and Positioning. Inserting advertisements such as print ads in newspapers and magazines, buying impressions for advertisements on the internet, and airing commercials on the radio or TV, can be used by both Direct-response and remnant advertisers.
Prior to the late 1990s, media buying was generally carried out by the media department of an advertising agency. The split between creative agencies and media agencies is often referred to as "unbundling". In 1999, WPP Group created MindShare from the media departments of its two advertising networks, Ogilvy & Mather and J Walter Thompson, now JWT.
In 2003, after purchasing Young & Rubicam and Tempus, WPP further consolidated all of its media operations including media buying and media planning through the formation of GroupM, which is now the number one media investment management company in terms of billings. The other major media holdings include Omnicom's OMD, Publicis's Vivaki and ZenithOptimedia, Interpublic's Mediabrands, Dentsu Aegis Network's Aegis Media and Havas's Havas Media.
Competing to get a slice of that attention can be extremely hard for businesses, and sometimes organic promotion is not enough. Media buying is a quicker way of getting the brand message across to the right audience by placing it in channels with a broad reach.
Whether you are a novice that knows nothing about media buying or a business that wants to sharpen its skills in this department, this guide will help you get your media buying strategy on the right track. Here we will take 9 essential steps toward a complete understanding of the media buying process, software, and better campaign optimization.
Essentially, media buying involves purchasing a share of offline or digital media space and time to run advertisements and then monitoring how the ad is doing and making adjustments as needed to optimize the ad's performance. This involves judicious strategizing and negotiating to make the most of the brand's ad budget.
The main objective of both offline and digital media buying is to get a brand's ad creatives out before its target audiences in the right ad formats, at the right times, and in the proper contexts to have a successful campaign.
The media buying process starts from defining a goal that you want to achieve with it. This can be more page views, better conversion rates, and, as the result, more closed leads. Once you know why and for what you may need media buying, you go through the following stages:
What is programmatic media buying, you ask? It uses automated algorithms to optimize media buys on platforms called demand-side platforms and focuses on the ad ad relevance to the audience rather than on where media should be placed.
In programmatic media buying, ad buyers and publishers buy and sell digital ads using automation and this is done through demand-side platforms. Publishers, from their site, use a supply-side platform to list their ads on the ad exchanges. This is how the programmatic media buying process occurs:
As the name suggests, managed service means the media buying campaign is fully managed by a third-party agency that helps launch it. It is obvious managed service leads to decreased transparency, control over money, and efficiencies.
Media buyers and media planners work closely together, but their roles are entirely different. In a nutshell, media planners develop the initial strategy, and then media buyers place the ads in the most suitable channels based on that strategy.
Some of the tactics they use to accomplish this 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. 041b061a72