It should come as no surprise that a solid advertising strategy is essential when it comes to maximizing your company’s revenue. However, not everybody understands the media buying process.
There are many different platforms to choose from, and purchasing advertising space often isn’t as straightforward as people expect. We’ve put together a short guide that outlines everything you need to know.
Let’s take a look.
In order to get started with media buying, you’ll need to extensively plan your campaign. This involves researching your target audience, determining the most effective form of advertisement, and figuring out what platforms they use.
After all, there’s a strong difference between the way a 30-year-old male behaves compared to a 60-year-old woman.
Depending on the goals of the campaign, this phase can sometimes last months. It’s essential to work out all the fine details before you move forward so that you avoid complications in the future.
Once you’ve determined how you plan on targeting your audience, you need to establish a budget for your media buying. If you have properly handled the previous phase, you can optimize the ROI you get per dollar.
Eventually, though, you will reach a point of diminishing returns. It’s in your best interest to allocate enough money for you to recoup your investment without wasting money by spending too much.
Direct Buy vs. Programmatic Buy
There are two primary types of media buying:
- Direct buy
- Programmatic buy
With direct media buying, buyers cultivate relationships with publishers in order to negotiate a price for specific ad space placement. For instance, this could involve someone working with a local newspaper in order to have an advertisement placed within the next issue.
Programmatic buying is much more streamlined. This is simply due to the fact that it makes use of automation in order to handle the many nuances associated with the process.
As such, this is more suitable for digital marketing campaigns.
The best decision for your situation will ultimately depend on your goals. If you prefer to communicate directly with representatives of a specific publisher, direct buying is likely the ideal option for their marketing strategies.
For those who have already figured out many of the details or wish to complete the process as quickly as possible, programmatic buying is a better decision.
How Can I Get Started?
Getting started doesn’t have to be difficult. It’s best to work with a professional who can help guide you throughout the process and help you avoid many obstacles that people encounter.
You can check out this resource to learn more: https://www.frontlinemediasolutions.com/services/media-buying/
Media Buying Might Seem Overwhelming at First
The good news is that it’s not nearly as complex as it seems. The above information will help ensure that you fully understand the media buying process and are able to make the most of it.
Looking for more tips that can help you out later on? Check out the rest of our blog for plenty of more useful information.