Media buyers negotiate, purchase, and monitor your advertising space. After its' been decided where ads should appear, your media buyer contacts the vendors who own that ad space to ensure it's available. Along with this, buyers negotiate the best price for the ad time and ad space.
To be successful, your media buyer generally needs two things:
- Connections and outstanding relationships with meaningful media owners to ensure you have the best advertising choices as well as the power to ensure you pay a the best price possible for your organization's ad space.
- Knowledge about the latest media trends to ensure new and improved advertising opportunities are available and abundant for your ad needs.
Before your ads go live, media buyers work with you to determine the best ad space for your marketing goals and your budget. Larger budgets can sustain more expensive advertising space, such as on network TV. But if your business is small, allocating your budget to local ad spaces may better serve your organization.
Once an appropriate budget is defined, next up is finding the appropriate space for your organization's advertising. Your media buyer contacts media vendors to see if the ad space is available, on what terms, and at what cost. At this point, your buyer negotiates the best price for the chosen ad space.
Remember, without experience, knowledge, and connection, you can have the best creative, but impressions will be limited if those ads aren't delivered to your audiences effectively.
A qualified and experienced media buyer finds and negotiates prices for advertising space. Media buying experts often have connections that help them negotiate and leverage better deals with media companies. You can have creative and appealing ads, but traffic can be limited if those ads aren't delivered to your audiences effectively.
Hands down, one of the best reasons to work with a good media services expert is to make sure your ad budget is wisely and effectively spent so your organization gets a maximum return on investment.
To raise revenue, a good media buyer also creates a complex business that involves added elements to trial and to maximize profit. This can't be done by simply paying for media space.
In the media buying world, media experts look for the best advertising initiatives and opportunities for their clients. This is why organizations pay top media services agencies to handle its money and advertising space. Media buying companies with an experienced team have strong relationships with media vendors and know the market price for advertising time and space. An experienced media buyer ensures you're paying the best rates for advertising that's delivered to your potential buyers.
Effective marketing and advertising strategies generally integrates three kinds of media:
- Earned media isn't accessible by your company. Instead, it's content that's promoted by your audience via retweets on Twitter, shares on Facebook, and online reviews, to name a few methods.
- Owned media is controlled by your organization, and influenced by your logo or brand.
- Owned media includes your website, blog, and social media channels.
- Paid media helps publicize the content within the previous two media types more effectively. Paid media types include pay per click (PPC) advertising, online display ads, mobile ads, and advertising via social media outlets.
Paid media delivers your advertising to your target audiences and calls them to action - which is generally directing online users to your website - thereby increasing you web traffic, audience awareness, and sales.
Before media buying occurs, media research planning needs to happen so there's a comprehensive understanding of the target audience and a context for the audience's media consumption. During the planning process, a number of questions will be answered that involve ad frequency, budget spent on each medium, and where to buy ad space.
In media research planning, there are three steps that help target a specific audience:
- Conducting industry research on the specific good or service you're selling. The research looks at competition within the industry, customer satisfaction, and habits and lifestyles.
- Building a media strategy. After careful investigation on your industry's main topics, a media strategy is crafted as well as a budget.
- Creating a media plan. Your media plan aligns with your business's beliefs, goals, and strategies. The budget is broken down into sections over the course of the year, and a calendar of advertising events is developed for media buyers to follow when looking at ad space and ad costs.
Each organization has its own media needs, which is what makes strategic media planning an important part of the media buying process. Media planning ensures advertising money is cost-effectively spent and will reach your target audience.
Proficient media planners craft guidelines to be followed paying for advertisement space, and the media plan can be revisited to benchmark success. This feedback and outcomes is then used to improve marketing strategy and increase advertising traffic.