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8 Tips For Media Buying Rookies


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8 Tips For Media Buying Rookies: - Original Content Series - first release for 2014.

When I was first told earlier in my career that media buying was now part of my responsibility, I cringed. I did not have any idea how to begin, questions to ask, or know if it would be the right media for the right reason. Questions, questions, questions… UGH. With that being said, has "8 Tips For Media Buying Rookies." If you are in the position where you feel like you need a little more guidance, you're in the right place.

Published in: Marketing, Business, Technology

8 Tips For Media Buying Rookies

  1. 1. 8 for tips Web Sponsorships Web Banners Web Search Social Media Digital Out-of-Home (DOOH) Out-of-Home (OOH) Mass Transit Broadcast TV Cable Mobile and Tablet Banners Text Messaging Mass Transit Digital Magazine Print Magazine Newspaper Sponsorships Co-Branded Advertising Inbox Advertising Radio Web Radio Media Buying Scott MacFarland | January 2014 Original Content Series rookies
  2. 2. 8 tips for Media Buying rookies Media Buying 101 Media buying can be very confusing because there are so many options. As a rookie media buyer, don’t guess, that will cost you extra time and money. Take a look at this 8 Step Guide that will provide helpful information to get you started and headed in the right direction. Below are 7 items that can all be moving parts in an online media buy. You must understand how they work within the media channel you are considering. An example of this is: If you are looking to purchase website banners for instance, these are some of the question marks that will come up during the media buying process. • Target Audience & Reach • Size of Banner • Quantity of Impressions • Pricing Options (CPM, CPC) to name a few • Geographic and Geo-targeting Options • Flight Duration and Frequency • Banner Location notes: 2
  3. 3. 8 tips for Media Buying rookies 1 What Is The Goal Of Your Advertising? o Think about what you want to accomplish with your advertising and write it down. If you establish a goal, you will have an easier time reaching that goal than if you don’t have a goal at all. o Also think about what product or service are you marketing o An example might be: To drive consumer traffic to a website landing page in order to get the consumer to fill out a simple form to inquire about more information. notes: 2 In Order For Your Advertising To Be Successful, What Has To Occur? o This is a tough question. Remember, advertising is not always designed to sell the product. Before the sale occurs, it must create awareness and interest in the market so that lead generation occurs. Clearly define what has to occur for your brand in order for your advertising to be successful. notes: 3
  4. 4. 8 tips for Media Buying rookies 3 Define Your Persona That You Need To Reach o Clearly define your persona so that you can select a publisher that also caters to that same audience o Understand your persona behavioral traits. This will help you decide what media to choose that will garnish the highest results. o An example of this is Generation Z: Here are a few traits about that generation that will help you define your persona and how to reach out to them more effectively with advertising. Generation Z Born: Mid 1990s-2010 Internet savvy Social media savvy Tech savvy Global cloud-based connection Accepting of diverse populations Content creator / producers / creative Want gadgets Fluent with mobile apps Viral influencers on the Internet Multitask with an Internet-connected device while watching TV Source: Forrester Blogs: notes: 4
  5. 5. 8 tips for Media Buying rookies 4 Know The Publisher, What They Offer and Their Digital and/or Traditional EcoSystem o Know the publishers in your market. There are several, all of which have strengths and weaknesses. Get to know them and understand which one will expose your brand message most effectively. o When you are buying media, do your research and review all your options. There are dozens of publishers, all of which could be a viable option. It will help if you know what your persona is most likely going to use based on their behavioral traits. Match those traits up with the publisher’s media kit. o Here are a few advertising options available in most markets. All of these have multiple variations. Understand your options and get to know what works best for your brand. Advertising Options Web Sponsorships Web Banners Web Search Social Media Digital Out-of-Home (DOOH) Out-of-Home (OOH) Mass Transit TV TV Cable Mobile and Tablet Banners Text Messaging Magazine (print & digital) Newspaper Sponsorships Co-Branded Advertising Inbox Advertising Radio Web Radio notes: 5
  6. 6. 8 5 tips for Media Buying rookies Negotiate The Price and Understand The Medium o How is the publisher pricing the content? This is determined by the publisher. However, an example of this would be if you are buying website banner positions on The system of monetization would usually be Cost-Per-Thousand (CPM) or Cost-Per-Click (CPC). Each of these acts a little different. Understand the differences and what works best for your budget so you can use your marketing budget most effectively. o Media is usually not a “fixed” price. You can negotiate a lower rate depending on a several factors. This also is based on the media you are buying, each one is different. Get to understand them, this will help you negotiate lower prices. Here’s a few questions to ask yourself. • Do you have 1 campaign or several bundled together? • What is the duration of your anticipated media flight? (days, weeks or months) • Keep in mind certain months may be more expensive than the other • Negotiate everything - ask for a lower price o Go to the Internet Advertising Bureau website to understand more about internet advertising. There is a great deal of information that is extremely helpful, especially for web media buying. notes: 6
  7. 7. 8 6 tips for Media Buying rookies Measurement o When you select a publisher, determine how you will measure the usage so you can assess if it is working or not working o An example of this would be: If you advertise using website banners, you can determine that clickthroughs to a landing page on your website is how you want to measure your campaign. o Hint: Measuring an eyeball looking at your banner is not very helpful. Measuring a customer action is a lot more helpful. o Example: If you are advertising using a website banner, there are a few simple ways to determine what to measure. Once the visitor clicks on the ad, they can be measured by: • How many click throughs are on your website • Number of impressions on your ad • Number of unique visitors on your website landing page that you know come from that particular publisher • Number of visitors that come to your landing page and request information or download a .pdf notes: 7
  8. 8. 8 7 tips for Media Buying rookies Ask To See The Publisher’s Media Kit o Media kits fully explain features, advantages, benefits, costs and target audience of the platform. Pay close attention to the media kit information. Ask for verifiable information and when the media kit numbers were last updated. Current information is what you want. Numbers that are more than 1-year old are not acceptable. o Media kits typically have competitive information in them. This will help you cross-reference the data and assess which publisher will work best for your brand to accomplish your goals. o Ask the media representative how they will prove to you that their platform is better than the competition. At this point you should list their competitors so they know you are a knowledgeable consumer. By doing this, it should help provide you with leverage when negotiating price. o Ask yourself the question: Does the media kit information align with your persona’s profile information? When you review media kits, look for the target audience the publisher says they are getting. o Ask questions to get the media representative to explain why they are getting this type of audience. o One of your goals when choosing a publisher is to make sure their target audience matches your persona’s profile. notes: 8
  9. 9. 8 8 tips for Media Buying rookies Media Calendar o Create a 12-month calendar showing each month and each publisher that is represented in each month. It’s a great way to visually see the gaps where you don’t have coverage. It’s also good to show where your brand may be overexposed. o Keep in mind that your brand may need extra exposure in certain months of the year as opposed to others. This will help you determine where to buy your media. o The calendar also helps to easily see what media is represented not just for exposure and month, but also for traditional and digital coverage. Below is a simple way to show your yearly media calendar. notes: 9