Finally, it is done. The next step is to tell the world how wonderful it is. And the easiest way for it is to rent some media equipment, no matter the type of it: a billboard or online banner.
This obvious solution is, in fact, not so elementary as it could seem. Media buying has the right to be treated as an art. Skilled media buyers will tell you that nice advertising is just a little part of the trick – it is more difficult to make your target audience to see it.
Actually the process we are about to discuss can be considered from two sides: buying and selling. All the scheme remain the same, everything depends on the role you will try on.
Media buyers are those who exactly purchase advertising inventory, no matter the type of it (broadcasting time for radio or TV, billboards, places on the buses and so on). They are quite recent to buy the inventory directly and ad media brokers are invited as they have close contacts with publishers and their prices are lower than in case of direct communication.
Media brokerage will help to solve money and professionals from the area can offer the most suitable variants for each type of the company. Reason of low costs is quite simple: ad brokers have strict obligations in front of the companies to sell their equipment. Sometimes, when the time is running out, it is more beneficial to offer the place for self-costs than losing your own money and paying penalties caused by publishers.
Ad brokers can be represented by private people, a company, an advertising network etc. This player is not so lucky as it may seem as, for example, the problem is not only too specialized brands or publishers, but in the issue of trust. Media buyers are dependent on honesty and reputation of their publisher, and they are primary people to respond on all problems with ads.
How does media buying work?
There are the following stages that any company generally goes through:
Preparations
This stage shouldn’t be skipped. Advertising goes hand in hand with money and wrong estimation will lead to wasting money. It is you foundation. Like in a house: even one wrong brick will make the whole construction dangerous and not suitable for living.
What you should do here is as follows:
- study the market and its current conditions;
- expected cost of ads is calculated;
- usp should be defined;
- the goals of advertising campaigns.
Searching
As you have what to advertise, you should find places where to do it. Previous stage should make it clear which types of platforms will suit you most of all.
Negligent attitude is impossible here as well. You are interested in targeting right people, while huge “generalized” coverage will not give those results you expect.
Media Planning
As you already have all initial data, it’s time to make it more solid and vivid. At this stage you are to make precise and definite ideas about the following points:
- what is your budget;
- what are the terms for realization;
- which types of platforms should be affected;
- which ads you want to implement.
Definite means that you can’t say “to be a market leader soon”, but offer realistic goals with exact parameters for time, amount of ads, budget sum and son. You will need this information later to compare with your plans and actual conditions.
Monitoring
Nothing to wait – launch it.
But you can’t just sit and see how things are happening. Something will certainly go wrong – as calculations cannot fully predict humans behaviour. Your task is to track how the things are going, you are quite likely to need some corrections and optimization of current campaign.
Final stage
Analyze your desires and you have actually received. No reason to get frustrated as something went not so good, especially if it is your first campaign. You should spend some time tracking what was wrong.
Some channels may need more attention, while others were focused so much without special reason and low outcomes.
The guide we have created for you, should answer a lot of questions at least for general understanding. But, if you feel any misconception – don’t hesitate and write to us!
