Unless there are people to see or hear an advertisement, there is no point creating it. Yes, it is important to create a great advertisement but that’s not enough. There is so much more to it. A successful ad effectively communicates and reaches the target audience. If you don’t reach out to the right people, all your efforts are a waste. That’s where effective media buying plays an important role. Among the different forms of marketing, media buying is quite popular and widely used. It is nothing but buying media space in different channels/mediums like television, radio, website and, newspapers etc. With the right media exposure, one can market or create awareness about their product or service. As a media buyer, one has to be a pro to be able to negotiate the best rates and placement from media owners to earn more value for an advertiser’s money.
1. Identifying Target Market
I guess there wouldn’t be any professional media buyer who would start off with a bid before they’ve understood the target audience. One has to have a clear understanding of the people that you would want to reach and the objective behind the product or service. Since, you would be investing your time and efforts, make sure that you are aware of your target market or else it will all be a waste. It is good to start with a research regarding the different demographics of the different kinds of sites where you can actually benefit from advertising. You can consider aspects like age, the location of visitors, gender and status. When you are clearly aware of your target market, you can easily create advertisements based on what would interest them.
2. Competitive Research
A common trait of successful media buyers is that they go for a thorough research of their competitors. This includes the various types of banners, their placement, landing pages and the suitable keywords. By studying the way the competitor takes forward the process of media buying helps one create a successful campaign for themselves where they are aware of the pros and cons. A lot of people actually use this technique. It goes a long way in cost cutting and creating an effective campaign. A campaign without competitive research makes no sense.
Planning is one of the most important steps in the process of media buying. In the ad world, it’s mostly getting the right feel and look to make your audience notice you. One has to think from the perspective of different platforms, be it desktop, mobile phones, tablets etc. Unless your ad is perfect for all the mediums, it can never be successful. One has to create ads which when seen on any of these platforms should look the same without any difficulty. No one wants to miss traffic from any medium.
4. Creation of a Reasonable Budget
Be it for your own company or a client, one should always treat the budget as though it is your own money. Things are easier if the budget has been clearly allocated beforehand. This helps to figure out which methods suit your objective in the best possible way according to your budget. Once you are clear about your budget, it becomes easier to decide the right option for you and how you would want to buy the ads, be it monthly, hourly or may be through a click.
5. Compare and Contrast
While choosing the best location for your advertisement, there is no to be scared to do a little comparison shopping. One can easily find out the best competitive rates for the ideal positions by making a short list of similar media outlets. Here, the focus shouldn’t be on finding the website which will charge you the least but rather the one that can give you the maximum exposure. Sometimes, it is fine to pay a bit more to get the attention that can bring a huge traffic. Low-cost charges are worthless if you don’t get good leads or sales. Hence, focus on the website quality.
6. Get Out Of Comfort Zone
It is true that placing your ads on the popular websites does generate a lot of traffic but it’s also good to push the envelope at times and find what you can achieve out of it. At times, a new site or network can get you the most amazing deals in media buying. And if luck is on your side, you can eventually get huge returns and still be paying quite a little.
7. Try to Track Everything
Similar to online marketing, a good media buying is about making sure that you keep a track of everything and then based on this analyse your results. It could seem boring and insignificant to be calculating ROI but then there are a lot of beginners whose stint with advertising efforts begins without paying much attention to their current stats. Unless you have some sort of solid proof, you can’t really know if your campaign is actually converting people.
Finally, do remember that creativity shouldn’t take a back seat in your advertising campaigns. A lot of companies spend a huge sum on media buying but go on to ignore the creative aspect. One has to know what the campaign message is and if it perfectly expresses what the product or service would want to say. This should be taken care of before one spends any amount on the media. It is equally important for the advertisement to be seen as well as deliver the message which appropriately communicates to your audience. Effective communication is crucial for success.
9. Collected Insights Optimization
Now that you have run some campaigns, done research and have a good amount of data as information, that’s when comes the time to show some media buying skills. As a media buying expert, you should be proficient in optimising the insights like which location, campaign, product or keyword would help to get more sales with the provided budget. Thus, if you are one of those who can easily take these type of decisions and at the right moment, then there is nothing that can stop you from becoming a successful media buyer or else you will have to keep working hard to improve.
These were few things that successful media buyers follow and you can try them too. It is all about going step by step and not expecting everything to work overnight. Tell us in the comments section below regarding your experience good or bad both regarding your campaigns. Share your tricks and techniques that we might have missed in this article and which can be really helpful. Do not forget to subscribe to our newsletter and share it on Facebook, Twitter, Google+ and LinkedIn.