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Media Buying

How to have an effective Media Buying strategy

The media buying concept is at the very forefront of the digital marketing experience. It is paramount that your media buying strategy is highly targeted and should be preferably done by experts of the specific consumer group industry that your business wants to attract.

In this day and age, it is not sufficient to just depend on ads. Competition is stiff, and consumers expect more. That’s why it is crucial to place the ads strategically – at the right time, in front of the targeted audience. That’s where the media buying concept comes into play.

Consumers are spending more hours online, and with millions of options available, they have low attention spans when browsing ads. You’ve to compete to get a slice of that attention. Although it is hard to achieve that goal, media buying is an excellent tool to help get the brand message across to the right audience.

Allow us to give you a brief introduction as to What Media Buying is all about?

Media buying includes purchasing a share of offline or digital media space. Then it is the job of the expert to carefully craft ads that compel the consumer groups to engage.

This is not as easy as it sounds.  Content has to be spot-on in its approach and must always be updated and relevant based on societal changes and industry triggers.

Furthermore, the experts then need to monitor, track and analyze the ad performance of the analytics and be prepared to make adjustments as required to optimize the results.

Why is media buying essential for brands?

  1. Access to the right inventory slots: Media buyers are informed about the channels and slots that get the best engagement and stay in touch with how external events affect ad placement and cost. They can spend your ad budget optimally.
  2. Negotiate good deals: Media buyers are familiar with negotiation and have extensive networks of contacts across the media space. Therefore, they can get better exposure for your ads at a competitive price.
  3. Better reach and quality leads: If implemented correctly, your ad campaigns can bring you quality leads. You can fine-tune your buyer persona profile precisely by using custom parameters based on audience data coming from publishers.

Here is how you can build an effective media buying strategy

  • Ask the right questions: As a brand, you should know your long-term and short-term goals. Whether you want to sell more or increase brand awareness, you need to discuss it with your team and understand why you need media buying. Ask yourself who is our target buyers in each campaign. They might vary widely based on product segments and demographic concerns.
  • Understand the media buying software: You should at least have a basic understanding of the technology that powers your ad placements. The first step is usually the option of a demand-side platform. Whatever the case, the media consultant should answer any questions you may have.
  • Use strong technology: Choosing only one media buying platform is not enough. You might have to master both direct and programmatic media buying. You can also strengthen your strategy with dynamic creative optimization or attribution platforms.
  • Focus on creativity: No matter what media buying platform you select, your ad creative has to be of high-quality. It should also deliver an appropriate message at the right time to your targeted audience. Work with your creative team to put out the best material possible and make changes as required, depending on the contextual, environmental, and audience signals you get.

Media buying can be costly, but when done correctly, it can be profitable. The quality media buying process is high nuanced and focuses on obtaining the optimal ad placement for maximum conversions. It is highly recommended to have experts with years of experience and the proper connections to get the ultimate value for money ROI from each campaign.

Therefore, conduct thorough research on media buying trends and select media consultants with experience in your niche. Make sure they can offer various offline and online media buying services to suit the needs of your specific industry.

As seen in the Tampa Bay Business Journal October 2021

Contact us to learn more about our Media Buying Program!

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