A Guide To Media BuyingJuly 11, 2021
Media buying means the procurement of ad space and time for displaying media associated with your brand. It is a form of paid media. The idea behind media buying is to find the right ad space that gives your company and products maximum exposure for the lowest price.
Media buying is based on the right timing. The end goal is to get the right space at the right time for the lowest cost. The ads should be relevant, in context, and seen by the target audience to increase brand exposure, sales, and brand awareness. The most important factor is timing. When you buy media space, you essentially ‘rent’ all possible placements on all social media platforms. Any others should not overshadow your ads.
When deciding to buy a time slot and place your ads, there are some steps that you need to go through. These steps will ensure that you don’t place an ad at the wrong time and end up losing money on it.
Steps of media buying
When undertaking media buying from media buying agencies Toronto, here are the steps you need to go through:
Decisions to buy media space or advertise are not made overnight. They involve meticulous planning and discussion before the release of the ads. This step takes the most time and requires the most research. Whatever ad you put out must align with your company’s objectives and stated values.
Identifying your target audience, competition, the type of ads you believe will generate the most conversion to sales, price negotiation, budget allocation, and how to design the ads to get maximum contact with the audience are some of the prerequisites of this step.
- Launching the campaign
After the above crucial decisions have been made, you need to launch your campaign. The main responsibility of you as a buyer is to monitor your campaign. At this stage, analyzing the performance of the ads and making further decisions based on this analysis is important to the future of your campaign.
You also need to ensure that you are getting the ads out there at the right time and slot. Track how customers engage with your advertisements, as well as be ready to adapt and change strategy.
- Post campaign analysis
This is the time for the retrospection of your campaign. Take an honest analysis of whether it was effective or not, what ticked with your customers and what drove them away, and whether the expected revenues and engagement were earned. Check if there was a return on investment and whether there was anything else you could have done to make the ads better.
Media buying is an important process, and its success is largely built on whether your ad was well displayed, well-timed, and reached the target audience. Choose the right platforms to showcase your ads, and ensure that your objectives as a company are clear. With the right ads placed on time, you can get more customers and revenue generation.