If there is no person on your team whose majority purpose is to handle the media buying, the services of qualified media planning agencies are at your disposal. Whether you choose to keep the media buying in-house or to outsource the duty, here are three media buying steps to keep in mind.
Identify the Target Market
If you are purchasing advertising, there must be a audience that you are trying to target. While targeting a broad market can help individuals remember that your company still exists, it is generally a best practice to be specific. Since advertising will eat a good chunk of your budget, it should have a purpose. Identifying the ad's target market helps you tailor the ad accordingly so that the audience will be more receptive when it is presented to them.
Tracking advertising results can pose a challenge and if you run simultaneous ads, it may be difficult to pinpoint the one that triggered new traffic or business. Before you roll out your campaign, therefore, it is important to set up objectives and expectations. If the goal is to create awareness in regards to a new product or service, you need to decide what you will consider a positive outcome and how you will quantify those results.
Define the Strategy
Once you have established the market you would like target and the ad's objectives, you are ready to define the strategy. While defining the strategy, heavy decisions are going to be made. The ad placement will be chosen and you will try to maximize your budget without going over. Based on your data, you should be able to choose the best media outlets and meet your objectives.
Media buying has evolved from its early days, but identifying the target market, setting objectives and defining the strategy can make the process smoother.