The process of media planning and buying is vital in determining the success of your business. Advertising is the key to making sure that your business reaches its target audience, but how can you implement a clear strategy for advertising effectively?
Media planning and buying will see your business successfully appeal to the right audience, so it is an important step to take. Keeping up to date with advertising and new media will ensure that your campaigns are successful. On the other hand, using outdated media campaigns could see your business not gaining the attention that it deserves.
In this article, you will learn two important things:
- How to strategize your media planning to reach your target audience
- Key performance indicators to use through OOH advertising to promote your business
What Is Media Planning?
To start off, what is media planning?
The media planning process determines the way in which media will be shared with your target audience.
Media planning decides what media will be shared where and what will be the best ways to reach your target audience. It also ensures that you do the correct market research to discover the best ways of reaching your target demographic.
Although the process can be difficult, it takes a lot of planning to make sure that it works for your business and advertising campaigns. However, once you are focused on creating the best possible OOH advertising for your target audience, you’re on track to successfully promote your business.
What Is Media Buying?
The process of media buying is to further direct your advertising campaigns to your target audience. Media buying refers to the process of buying advertising space that will reach your target demographic.
The advertising space can refer to:
- Websites
- Magazines
- Newspapers
- And many other areas
Think of it as the space that will reach your target audience for your business.
Media buyers take control of negotiating with the advertising spaces that you want to purchase to promote your business. It is important to make sure that you are purchasing the right space for the right length of time for maximum optimization.
The Media Planning Process
The process of media planning and buying can take a lot of time to get right as it involves a lot of research. The research is especially important as you need to make sure that you are using the right platforms to target your audience.
Follow these steps for the media planning process:
Plan Your Objectives
Different campaigns will have different objectives, so it is important to make sure that you plan your objectives to make sure that you hit all of the goals. Once the objectives have been thought out, you can begin your research into the best way to advertise your company.
Having clear objectives helps you to decide what media you would like to work with and what media won’t work for the objectives of the campaign. You need to make sure that you are aware of your brand and what you want to achieve from advertising your business.
Decide The Budget
Media buyers need to make sure that they have the right amount to spend on advertising campaigns. This allows them to then plan how they can make the most out of the budget to optimize the advertising campaign.
Media buyers must then work on negotiating after they have established their budget and what can be done with the budget. This will allow the company to make sure that they can create the best form of advertising for their campaign.
Market Research
Making sure that you understand your target audience is key in successfully planning your advertising campaigns. Market research will allow you to understand your target market so that you can promote your business the right way for them.
If you don’t understand your target market when advertising, there will be a possibility that you will miss them in your campaigns. Advertising the wrong way to your target audience comes with the risk that they won’t see the campaign.
Frequency And Reach Of The Campaign
The frequency of the advertising campaign shows how often your target audience will see the advert. This will help to increase the exposure of your campaign and make sure that it reaches your target audience when you want it to.
Continuity, flighting, and pulsing are all factors in planning the frequency of the advert. You will need to decide if continuity will be best for your business as the campaign will consistently advertise, or whether flighting will work best, where there are breaks in the campaign. If you think both will work, then pulsed advertising combines both forms.
The reach of the campaign refers to the number of people who will see the advert over a certain amount of time. This will help you to analyze the exposure of your advertising campaign in front of your target audience.
Make Sure That You Analyze The Success Of Your Plan
Once your campaign is in place, media buyers need to continue to track the success of your OOH advertising. Changing the campaign after it has been set is difficult for media buyers, so having marketing performance insights can help media buyers to keep track of the optimization of the advert.
Examples Of Media Channels
OOH Advertising
OOH advertising has become increasingly popular to get the attention of your target audience not only in their home but outside their home in public spaces.
Popular forms of OOH advertising are billboards as they can reach up to 10,000 people a month if they are situated in the right public spaces.
Digital Media Planning
Magazines are still popular to read, but they are often read electronically instead of in print. Digital media planning is a great way to advertise your business as magazines often have target audiences. If you share the same target audience as a certain magazine, having advertising space in the magazine will optimize your business.
Social Media
Social media is a very popular way to promote your business and it can target your chosen demographic. The reason that social media is very popular with advertisers is that it is very profitable. Social media can reach anyone as it is an incredibly popular platform and a very modern way of advertising.
Key Performance Indicators
Analyzing your campaign is important for keeping track of the engagement. Keeping track of the engagement can help marketers determine what the main factor behind the success of the advertising campaign was and how it can be applied to future campaigns for success.
You need to make sure that your key performance indicators are relevant to not only your target audience but to your marketing strategy. It is important to make your key performance indicators attainable for your business, but there is no limit to how many key performance indicators that you need to have.
How Can bMedia Help?
bMedia can help you by offering its services of high-quality OOH advertising. Reach is one of the most critical points of media planning as you need to make sure that your advert is seen by a lot of people. bMedia can help optimize the reach of your advertisement campaign.
bMedia has digital billboards in over 50 locations that are easily seen by the public. The locations of these billboards are in prime locations where the public can see the advertisements, either at highly populated shopping centers or on highways that are used daily.
Reach is the most important element of media planning as you need to determine how many people will see the advertisement. Having your advertising campaign in a location where no one will see it won’t optimize your campaign or your business. This is where bMedia can help to optimize the reach of your advertising campaign.
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