Efficient, strategic media buying can make or break the success of your advertising campaigns. Strategy in media planning and buying is where rubber hits the road in terms of Return on Investment (ROI) for your organization. Done correctly, it opens the door to meaningful, cost efficient connections with your target audience. So what exactly does it mean to buy media? We’re here to break it down for you.
Let’s start simple… What does “media buying” mean?
Media buying is the process of placing ads in the right place at the right time to the right audience at the most efficient rate. Media buyers purchase ad space on traditional platforms (e.g. television, radio, print, and billboards) and digital platforms (e.g. Facebook, Instagram, Snapchat, TikTok, and Google). The goals established and research conducted during media planning informs appropriate channel selection.
The goal of media buying is twofold:
- Connect with audiences effectively.
- Maximize Return on Investment (ROI).
How has media buying changed over time?
Just two short decades ago, media buyers could only buy ad space from print, radio, TV, and billboards. While these mediums still hold their place in the industry, the evolution of digital media has created more opportunities. At Marketing Doctor, we customize each campaign using an omnichannel blend of the best platforms for your target audiences.
Media Buying Example
Let’s say Marketing Doctor has a client who wants to advertise to women in their 40s interested in interior design. Colleen, a digital media buyer, may choose to place ads on Pinterest because 71.1% of users are women. Similarly, Carol, a traditional media buyer, may buy television space on channels with high female viewership, like HGTV.
Simple, right? Well, not exactly. The media buying process has multiple steps, so it’s important to work with experts who have insider knowledge. Let’s take a look at Marketing Doctor’s Media Buying Checklist.
Marketing Doctor’s Media Buying Checklist
1.Strategize and formulate a media plan taking past costs, metrics, and platforms into consideration
2. Negotiate rigorously to achieve added value for the client
3. Leverage elite partnerships with digital and social media platforms (such as Facebook and Google) for top tier support and exclusive opportunities
4. Place media and conduct daily optimizations to maximize performance
5. Review and audit media placements and metrics to determine efficiency and effectiveness
What are cost efficiencies in media buying?
Think quality over quantity. For traditional media buying, we achieve record-breaking bonus value based on Nielsen Gross Rating Points (GRPs). This measures total impressions in relation to the size of your target population. Some media outlets promise bonus spots that run at off-peak times and frankly, are not worth much. We ensure that all of our clients’ spots run not only in the best place, but at the optimal time.
The digital media buying team at Marketing Doctor frequently surpasses industry benchmarks when delivering ads. That translates into digital cost efficiencies and added value for the client. We achieve double, if not triple, the clicks at half the cost.
How is Marketing Doctor different from other agencies?
Our leaders were media sellers for over a decade, meaning we know where money can get left on the table and how to negotiate for maximum value. Janet Casey, President and Founder, built this company with a commitment to deliver more efficiency in media buying.
Today, we strive to secure $2+ in value for every $1 of media budget spent at no additional cost to our clients. Doubling the value of each campaign means reaching twice as many people or desired outcomes.
We never shoot in the dark. We begin with deep knowledge and understanding of our clients’ industry benchmarks, past metrics, and case studies. From there, we often recommend an omnichannel approach pending client goals and budgets. This allows your campaign to achieve:
- Greater synergy across channels
- Better brand visibility
- Improved brand recall
- Impressive cost efficiency, and
- Higher return on investment.
Now that you understand the fundamentals of media buying, what’s next? Let’s talk.
Your journey to reach more people and achieve faster ROI starts now.