Media buying is a fundamental component of any marketing strategy. But what exactly is media buying? If you’ve ever wondered who’s behind those clever Super Bowl ads or the strategically placed banner ads on a website, the answer is media buyers. To have a successful campaign, you need more than just a catchy slogan or a creative tagline that’s repeatedly broadcasted to your audience. Below, the experts at The Hive will answer the question “What is media buying?” and why you should consider incorporating it into your marketing strategy.
Media Buying 101
Typically, when a brand receives its marketing budget, a portion of it goes to paid advertising, and that’s where media buying comes in. While not many marketers talk about it, the media buying process is responsible for the targeted ads we see today. It is utilized in traditional marketing channels, like TV and radio, and digital channels, like websites and social media. Whether watching TV or scrolling through social media, the goal of media buying is to get the right message to the target audience at the optimal time for the least amount of money.
In today’s world, media buying is handled in one of two ways:
- Direct Buy – Media buyers work directly with a publisher to purchase advertising space online or in a traditional publication. It can take time as they negotiate the price, pick the placement, the date the ad will run, and how long it will run. Direct buy is the more traditional method of media buying.
- Programmatic Buy – The buying process happens automatically through an ad-buying platform with KPI data and optimization available in real-time.
- Network Buy – Bidding and purchasing ad space through demand-side and supply-side platforms.
What Is the Difference between Media Buying and Media Planning?
Media buying and media planning fall into the same category but are two separate processes. Usually, media planning is the first step in this process. Based on the strategy created during the media planning stage, the media buyer executes this plan.
- Media planning – During the planning phase, you establish an audience, perform market research, establish a budget, and create goals.
- Media buying – After the media plan is established, media buyers get to work carrying out the strategy.
Why Is Media Buying Important?
Compelling messaging and stunning visuals can only take strategies so far—strategically purchased media can take your campaign to the next level. Beyond placing ads in the right locations at the right times, effective media buying also creates impactful relationships with media outlets, companies, and owners, resulting in greater reach with less investment.
How to Hire a Media Buyer?
If you’re wondering how to hire a media buyer, we can help! A media buyer typically performs the media buying, so you need to fill this role with someone who is a negotiator. They will work closely with media companies and help leverage best practices to get the most return on investment for ad placement for clients. Your media buyer will also have to work with your media planner to create a successful media plan.
Media Buying With beMarketing
At beMarketing, we guarantee that our media buying services will get your brand the recognition it deserves. Our team has extensive experience establishing relationships with media outlets to ensure you get the most out of your advertising budget. If you need help achieving your media buying goals, contact us today.