Business competition is fierce these days, so you need to make sure your company stands out and has a competitive advantage to maximize the probability of succeeding. Coming up with new and improved ways to reach out to your prospective customers can be challenging, but luckily there are many techniques to choose from at an affordable cost. If you run a business that relies on strategic negotiation and proper advertising placements, then media planning and buying would be the ultimate solution for you to try out. In general, the best and most effective marketing campaigns have both a media planner and a media buyer to cover all managing aspects of the launch.
What Is Media Planning?
Think of media planning as the first line of defense in establishing a successful marketing campaign. This is the first step in the planning/buying process. It involves researching and finding the best media platforms for your business to advertise on using a well-thought-out message to your prospective customers. It involves in-depth analyzing, comparing and planning to ensure the best marketing platforms within the set budget. Getting to this end result is not exactly an easy road, but it is worth it in the end.
Typically, a media buying agency will take on the role of the media planner. This person will have to collect the information and evaluate how effective an advertising campaign will be on each marketing platform they find. They look at aspects such as conducting research on internal and external marketing methods, establish media objectives and budget everything accordingly. Once all the data has been evaluated thoroughly, they present the most suitable platform(s) to advertise on and the reasoning behind it.
What Is Media Buying?
The second half of this process is media buying. Once the planning phase is completed, the next step is to actually purchase the media advertising companies, such as a television station, website or a newspaper. The media buying process includes the prelaunch, launch and post launch, meaning the designated person for this role monitors the advertising campaign from start to finish.
The media buyer, also known as “the executor”, takes the business product or service and delivers it to the world in order to drive traffic. They are responsible for guiding the marketing plan through by establishing relationships, negotiating and monitoring performance to implement improvements when needed. The main objective of media buying is to reach as many targeted audiences as possible while respecting the budget.
Conclusion
More and more businesses are utilizing media planning and buying techniques to maximize their advertising success rates. Merely creating and launching an advertising campaign does not always work out well. You need to take the proper steps and strategically plan out your approach to ensure your ads are placed well and reaching the right audience to ensure success. With the ever-evolving marketing world, staying on top of the competition using media planning and buying and continuously diversifying and improving your methods will give you the upper hand.
