Part 1. What is Media Buying?
In a great variety of marketing terms, you might ask yourself: ‘’What is media buying?’ By saying that, we refer to buying media platforms to advertise our products. It might contain all the sources that enforce brand awareness. It’s about ads on TV, radio, websites, digital signage, etc.
That’s not a secret that product propaganda is the favorite of the marketing team. But media buying is far more amazing. The final objective is to achieve maximum ranks by spending a minimum fortune.
The crucial thing is to hire an expert media buyer to negotiate the price. The process of media buying starts after the planning is over. Though, media buyers sometimes act like planners as well.
They leverage the data amassed to shape a solid strategy. The process of purchase, performance, and running campaigns are on the shoulders of media buyers. So they need to strictly follow the media scheme and find the most authoritative vendors.
Keeping close relationships with vendors the media buyers have to send chronicles about the results and follow up the advertising you bought from them is satisfying.
Some stages are needed for the media buying to be considered as finished.
Stage 1. Pre-preparation
Probably the most laborious phase is pre-preparing one. It considers going deep in figuring out the planning steps meticulously for the future.
This stage is important since the media buyer makes significant decisions that specify the routine of the upcoming events. It concerns the media outlet selection and whether it’s matching to the advertising goals. Let’s see more in detail.
- Identify the users and the means to reach them
Identify your clients and their habits. Distribute them into groups considering their residence, demographics, interests, etc. This will help you understand whom you’re dealing with.
Once you find out this, pass on to the next step. Discover the ways to communicate with them. Based on their activities, how they shop, where they go, and what they think, plan your further strategy.
Do you want to advertise online? Study the social platforms your audience is hanging out to put ads on them.
- Research how your competitors do
The more robust your competitor is, the more valuable your investigation will be. Try to figure out the key points of their strategies.
It’s about knowing where they put their ads, who their target audience is, the pros, and cons of their marketing plan, etc.
Be wise and scrutinize your rivals. Thus, you will start from several levels higher.
- Shape your strategy about media buying
At this stage, it’s important to select the advertising forms according to your goals. You need to specify whether to put an ad with the help of videos or newspapers, on TV or online platforms, etc.
You can even spread your ad through giant banners and digital signage. mobiles and so on.
- Come to a consensus regarding the price
After specifying the way to advertise, negotiate the price. You’ll always benefit by speaking wisely. Do this beforehand. Ask for extra bonuses and discounts from media vendors.
Provide time to compare different prices, research, and make your final decision.
- Apportion your budget according to your campaign execution plan
Identify your budget spending for a given time. Put the expected results in the center and estimate your expenses including the unforeseen ones.
Stage 2: Campaign launching
This phase is the more tensioned one for a media buyer. He/she needs to constantly check the campaign performance to discover what parts of the plan are functioning, and what’s not.
Stage 3: Campaign post-launching
The game is over! Whether you win or lose it, you can always do useful retreats. Think about the positive and negative sides of the campaign. Judge your activities fairly. Reflect on whether you tried hard during all those stages. And come to helpful conclusions for the next campaign.
Part 2. What is Social Media Buying?
Social media buying is one of the most engaging tools in media buying plan. If you want to reach a broader target audience in the fastest possible way, you need to spread your advertising on social media channels.
Spending some money on expected results might be scary. Especially if you prefer bringing organic traffic to your hub at no cost. But when you see your business spend is maximizing your ROI, you won’t regret using social media buying.
First, let’s identify the pillar platforms for placing ads.
Platform 1. Facebook ads
It’s needless talking about the huge engagement this platform is providing. Facebook ads will soon bring you on the top raising your product’s;
- Perception rates
- Conversion rates
- Consideration rates
These three are the crucial factor-objectives you can achieve with the help of Facebook ads.
Platform 2. Instagram ads
You know, Facebook owns Instagram. So by using Insta ads, you will achieve the three above-mentioned goals + the ones that are characteristics to Insta.
We’re talking about different kinds of ads, like;
Platform 3. Twitter ads
The Twitter ads will boost your product performance by;
- Raising clicks on your website by promotional cards. They are working to push public attention and driving to action.
- Boosting your tweet engagement. That’s to make people speak about your services. You will pay for the starting phase.
- Increasing your followers’ number. You’ll have to pay for the account’s enhancement.
- Enforcing your brand cognizance. You will pay for each impression to introduce your merchandise to a wider group of people.
- Encouraging users to install your app. You can do this by using App Cards. You will pay for each completed installation of your app.
Platform 4. Snapchat ads
Get your great business achievements with the help of the following types of Snapchat ads.
- Snaps. Time flies on Snapchat. So try to keep your ad’s video/image short up to ten seconds and not longer. Place attachments and encourage people to download your app, come to your landing page and watch your longer videos.
- Stories. Your story ads will appear in your followers’ feed. They will be glad to see three to twenty of your snaps and know more in detail about your brand-new services and extra bonuses. Insert a CTA to push your users to switch to your products, watch your videos, or install your app by swiping up.
Platform 5. Linkedin Ads
LinkedIn is a hub for professional gatherings. Here, at this platform, business owners are searching for employees, and vice versa. It’s a place for sharing expert opinions and articles about specialties and hobbies.
So if your offer is linked to the professional qualities, and your target audience is experts, then place your ads on Linkedin.
Platform 6. Pinterest ads
One of the most effective social media buying platforms is Pinterest. It deals with 6 types of business objectives.
- Raising product authority
- Boosting your site traffic
- Encouraging people to install their apps
- Bringing video engagement
The way Pinterest works is different from other social platforms. It’s a super-channel to save ideas to implement them later. The engagements are for direct or later purchase. The best thing is Pinterest is very user-friendly. And you can promote your brand whenever and wherever in Pinterest you like. As all the possibilities are there.
They are called promoted ads. They work like ordinary pins. With Pinterest, you’re free to create image, video and even carousel promoted pins.
Platform 7. YouTube Ads
Some formats of video ads on YouTube are available. First, install Google AdWords to promote your ads on YouTube.
- Format 1. YouTube TrueView Ads
The length should be up to 30 seconds. The viewers can skip your video ads after 5 seconds. TrueView Ads are on the run at any moment other YouTube videos appear.
- Format 2. YouTube Non-Skippable ads
These short runs emerge mainly at the beginning or in the middle of a video and last up to twenty seconds and are not possible to skip.
- Format 3. Bumper Ads
The length of this kind of ads shouldn’t be longer than six seconds. They are also unskippable. The important factors to focus on are appealing visuals and a bold message.
After identifying social media buying platforms, go on reading to know about performance marketing in media buying.
As you might already guess, performance marketing in media buying is marketing based on performance. Saying that we mean any action executed that drives expected results, such as purchase, download, lead, etc.
In other words, PM is a marketing strategy and advertising got together. The vital point here is that the business owner pays right after specific actions are completed.
This is an excellent scheme for an entrepreneur to have real targeting. By applying performance marketing, the business owner feels more confident and safe. That’s because the results are already showing up and the users are converting to the customers before the payment is done.
Though the performance marketing has become more popular due to the rapid rise of technologies. Apps of social channels enable people with sharing content, products, new services, and getting more visibility. And when the performance is paid, the promotion is bigger with more engaged people.
Let’s see the playing roles here.
Group 1. Retailers to promote your brand
Merchants are creating bonds with adequate partners to build credibility. The reason is that nowadays most people wish to read some reviews about the products they are going to purchase. And online recommendations and customer feedback are what’s working at this point.
Group 2. Affiliates to make the purchasing process easier
‘Publishers’ are performance marketing space partners. They come in different forms of coupon sites and loyalty feedback. They are a great way to bring traffic without a hitch.
Group 3. Networks to create strong partnerships
This group is providing a partnership that’s crucial for good performance marketing.
They spread your word in the public spaces with huge posters and digital signs, clients’ product feedback, and promotional reviews.
Businesses can leverage them for tracking clicks and leads. So make sure to research carefully to choose the one with the corresponding vertical expertise.
Group 4. Agencies to streamline the working process
While managers can work from the house, companies or brands should come up with agencies. That’s for collaborating with them to handle the whole project or support the team working in-house.
The entrepreneur can decide which percentage of his business the agency can manage. The others can partner with agencies just for giving recommendations to their in-house staff.
Working with this kind of experienced agency is beneficial. The in-house working team is sometimes lacking experience and relevant knowledge. So agencies assist in filling these gaps.
For boosting the business, the owners are putting all hands on the deck. But in these technology-driven times, it’s possible to get the highest results with the lowest efforts and money.
So one of those means is media buying platforms and processes. You already have sufficient information to decide the direction of your business management. Whatever you choose, we’re sure media buying will be of great use to you.
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