Media buying is confusing to many people; therefore, we will understand its meaning and everything you need to know about it.
What is the meaning of media buying? Media buying is the process of using marketing ads by purchasing ad spaces on relevant channels to attract customers and increase traffic. The ads must be relevant and appear at the best time and for the least amount of money.
Think of media buying as a combination of traditional marketing channels like tv, posters, and radio. And digital channels like websites, blogs, and social media. Use media buying effectively and more people will visit your website.
What is the role of a media buyer?
The media buyer is the one who put the plan and implements it after collecting the required information from the media planning team. He should be aware of the marketing goals and what the target audience likes and prefers and then they go and buy the suitable advertisement space.
Part of their roles is negotiating with the websites and whatever network they want their ads to appear on. Media buyers are responsible for purchasing the right place at the right time within the budget.
Furthermore, they use what is called marketing performance tools to track the performance of the ad and ensure that it is situated in the right place as agreed and that the ad is meeting the required goals.
Here are some of the common tasks between the media buyers:
- They are responsible for communicating with the other departments of the company.
- Choose the place where they will place the ad.
- Negotiating with the websites or channels where the ad will appear.
- Develop a media advertising plan that meets the goals.
What is the media buying process?
The first step in media buying is defining the goal that the company wants to achieve, like increasing the traffic, hence gaining more leads. Now that you know why media buying is needed it is time to make the strategy.
The media buying strategy includes budget, targeted audience, audience preferences, and the required metrics needed to achieve the media buying campaign. Then decide where you want to place the ad and when.
Now before placing the ad, you must first negotiate with the website or channel you want your ad to show on. Collect the sites and channels data to analyze the performance of the previous media buying campaigns and based on the information you collect make your decision.
That’s it, and for every new media buying campaign, you will repeat the same steps all over again.
What are the types of media buying?
Now we understand the meaning of media buying and how it works, and the role of the media buyer. It is now the time to learn about the different types of media buying and the different ad placements available.
In media buying, you can combine traditional marketing like Tv, radio, posters, newspapers, etc., and digital marketing like websites, blogs, and much more. In digital marketing you have many channels to choose from, these channels provide you with many opportunities including the following:
- Display ads
- Social media ads
- Paid search
- Mobile ads
- Video ads
- Digital OOH ads (DOOH)
What does a media buyer do?
Here are what the media buyer does.
1- Identifying the targeted audience
Before starting with anything the first step is to know who you are targeting for example if you want to sell women’s clothes then your targeted audience will be women. But that’s not all, you should define the age, is it for kids, teenagers or ladies. When you figure that out then you will choose if you want to target people in one country or around the world. And so on.
However, that is normally done by the media planner, not the media buyer who then tells the media buyer about the important information.
2- Market research
Market research involves the information about targeted audience’s life like where they live, and what they prefer. What social media platforms do they use? Which websites do they visit? And even more personal information like, when do they watch TV? When do they leave the house and where do they go?
When you figure out the answers to those questions you will know what is the best channel to place your ads to reach your targeted customers.
3- Setting the goals
Now define the goals you are eager to achieve through the campaign. For example, do you want to gain more leads? Do you want to build brand awareness? Is it for increasing sales? Or do you want the customers to keep coming back to you?
Knowing the answers will help you put a plan that can be measured easily and to track its performance.
4- Planning the campaign strategy
Now that you have to know the goals and complete information about your targeted audience, it’s time to build the strategy. The strategy includes the allowed budget, the channels you want to use, and the creative message you want to deliver through the campaign.
5- Purchasing ad placements
It’s time to put the media buying plan in action, purchase the place where you want your ads to appear. During this stage, the media buyer negotiates with the different channels for the place and timing for the ad to appear to meet the goals of the plan.
6- Launching the campaign
The implementing stage is where everything is ready for action. You have made the plan and purchased the space for the ads the only thing left is for you to launch the campaign.
Finally, it’s over, actually, you’re not done yet there is still a last and important step to take place, which is…
7- Measuring results
You have launched the campaign but you still need to measure its performance and see if it meets the goals or not.
How do you become a professional media buyer?
Here are some easy steps to follow to become a professional media buyer.
- First, know if media buying is your the right track.
Before you think of becoming a media buyer you should first understand what they do and their roles. See if it meets your skills and expertise. They often work with other people from different departments and hold meetings to negotiate for the ad space and its cost.
If you are one who likes meeting and working with new people all the time and have great negotiation skills then this job is right for you.
- Study marketing and advertising.
to be a great media buyer you should gain knowledge about marketing and advertising. For example, you could take an online course like the course provided by Google. Then apply for an internship or an entry-level job. You could also work at the beginning as a marketer assistant or advertising associate until you gain the experience you need.
- Apply for any open media buyer positions.
Search for open media buyer jobs, if the place where you work is searching for a media buyer then apply for the role and keep searching for your dream job.
What is a media buying platform?
The media buying platform is the tool used to purchase advertising spaces. It eases the process of money transactions from the buyer to the seller.