A successful marketing campaign requires more than a catchy slogan shown to the target group repeatedly. Media buyer team needs a powerful, engaging message to reach your target at the appropriate time and for the right price to construct campaigns that create marketing ROI.
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What is Media Buying?
Purchasing advertising space in various media outlets is part of commercial marketing. The objective is to locate and buy commercial airtime on channels frequented by the intended audience at the best possible moment and for the lowest price. Traditional marketing mediums (television, radio, and print) and new media (the internet) share a standard procedure known as “media buying” (websites, social media, streaming). When media planning is done well, advertisers spend as little as possible to receive the most significant exposure among their target audience.
Comparing Media Buying and Media Planning
Although media buying and planning are part of the larger media management field, they serve distinct functions. Media planning is concerned with the campaign’s strategy, whereas media buying is concerned with maximizing the number of impressions made on the target demographic at the lowest possible cost.
When strategizing how to target a specific demographic, one of the first questions you need to answer is what kind of media will be most effective. Thus, after media planning is finished, media buying is performed. It’s also worth emphasizing that media planning encompasses advertisements and a brand’s outwardly visual media. However, the same person or team may handle both tasks for a small or medium-sized organization.
Methods of Buying Online Media
Often known as digital media buying, programmatic buying automates purchasing advertising impressions. While bargaining is still possible, it occurs rapidly in today’s public and private markets. However, the conventional method emphasizes communication and cooperation with publishing houses.
This system of automated purchasing entails three parts:
- Advertising and marketing firms use DSPs to manage campaigns, purchase ad space, and fine-tune their advertising based on performance data.
- Websites, where publishers can list their ad space for sale are called supply-side platforms (SSPs). This DSP is tailored toward publishing companies.
- The real-time bidding market for advertising space where marketers and publishers can buy and sell ads (RTB).
- In addition to RTB, private marketplaces exist where publishers restrict who can participate in the auction for ad impressions. Programmatic direct refers to the practice of selling advertising space at a predetermined price per thousand impressions (CPM) without the use of a bidding system.
- But what about ad networks? Those sites act as middlemen between publishers and advertisers by compiling and matching ad inventory from different sources. Ad programs like Google Adsense and Facebook’s Audience Network come to mind.
- In addition to saving money, digital media buying also frees up time for teams to measure and optimize their advertisements’ effectiveness. However, the impact of Apple’s AppTrackingTransparency (ATT) launch on iOS 14 and the recent restrictions on cookies is still being determined.
- Gelb predicts that “major ad networks like Facebook won’t be excluded” from Apple’s new requirement that customers grant permission to track when the app is opened. This will severely affect targeting and conversion monitoring on iOS, as many users will choose to disable the feature.
- And he noted, “Nobody knows exactly what the impact will look like yet,” adding that “we, in the industry, are crossing our fingers and praying for the best.”
- Check out this video that discusses the top five paid marketing trends for additional information on why your company should consider implementing programmatic buying.
Conclusion
The media buy ensures that your advertisements reach the proper people. What is media purchasing, and what is programmatic media buying? These issues are addressed in this tutorial. The importance of media buys, as well as the distinction between buying and planning, have been covered in this tutorial. We appreciate your visit.
