Media buying is the process of an agency acting on behalf of the company to ensure that placements in specific media titles, or on radio airtime etc, can be purchased for the best possible price as part of a strategy.
For some businesses or organisations, advertising will always still be an aspect of their marketing and promotion which they wish to maintain.
A media buying agency, or a communications agency which offers this facility on behalf of its clients, will have multiple contacts across all trade, national, and most likely, international media, to ensure that whenever new deals or deadline opportunities can be struck, these are made available for clients as a priority.
A good media buyer will work closely with the business’s designated marketing team to understand what the audience is, any particular timing of an advertising campaign, what other messaging is being used in conjunction with media-spend, and what the perceived budget would be.
Before considering a media buying strategy, here are a few things to contemplate:
• How much do I want to spend?
Yes, it’s a question you’ll have to face. Only by being realistic about what you want to spend can you really put a target to your return on investment.
• Who am I reaching? This is vital because you’ll need to know whether the avenues are choosing are the ones where your customers will see you. Even if a title has particularly good advertising rates, there’s no point advertising with them if it’s the wrong target market.
• What is my message? This is so critical. This should be top of mind as you develop your advertising campaign. Your print-space or air time will be limited so get the message across and make sure it has a ‘call to action’.
• Is this a good time? Are you choosing the right time to advertise your product or service? The wrong season or wrong state of the economy could render your advertising useless.
• How am I going to assess what the effectiveness is? No point in media buying and having an advertising campaign if you don’t then follow it up and evaluate it. Always have this in mind. Know who will be responsible for what, and how you will want to judge success.