The thorough process of strategizing, negotiating and buying placements of advertisements are together called “inventory” in social media marketing. When any product is advertised, the potential buyers should consider not only the products but also the objective of the campaign and the target audience accordingly before planning to purchase the inventories. The initial purchasing procedure is managed by the media buyers while they also take the responsibility of rendering effort in optimizing the ad performances throughout the campaign lifecycle.
To put it simple, a media planning procedure refers to selection of optimal media outlet combination to advertise any specific marketing message. Being the first step of campaigning for any successful media advertisement, in this step the planners decide the developmental method, the basic target objective to achieve from these campaigns and the effective usage of various media for spreading across the intended messages. Here the brand budget is identified, researched for, analyzed, compared and planned for executing.
The recent trends are reviewed while evaluating the media associated with the industry so that consumer motivations can be understood to determine response to any particular campaign. After that, the campaign resources decided for various media platforms are divided and the business requirement is analyzed. Now, the digital media planner analyzes marketing objectives and competitive position to utilize ad budget.
The upcoming launch of a campaign is dependent primarily on the foundational media elements like -
While the internal research refers to learning goals and objectives and discussing target audience, the external research is based on analyzing insights, indentifying target audience with their behaviors, assessing competition and establishing media objectives.
The most effective channels to reach out the audience are determined before submitting Requests For Proposals. The traditional channels include radio., television etc while the digital channels include video and audio websites, mobile, social media etc.
Determining and allocating the finalized budget to advertise the brand is the final step where the planner also analyzes the ways of spending the budget in various platforms like social media, digital billboards etc.
The popular websites are looked upon to determine what appeals to users best and to improve accordingly. Promoting other websites or other products also help in getting help from their side in promotion of your site.
It is the secondary and complementary process where media buyer starts to research and negotiate the buying advertisement space across media channels by taking insight from media planner. Depending on budget, preference, audience and objectives, the process can either be manually done or automated. This process depends on timeslots and paid ad space where maximum target audience can view the ads. As the clients are from various media like television and online banners, the media planner buyer always tries to maintain a positive long-lasting relationship with them.
Based on the timeslots during which the ads would be displayed and the prices offered by the distribution channels, the buyer finds the best channel while considering the demands and needs of the ad campaigns.
Media buyers are the executers of the strategic plans of the planners and their task is based mainly on nurturing relationships and getting best negotiations.
Building up a strong relationship with the channel owners and publishers is the most vital forte of a media buyer. Even with the introduction of automation tools, the buyer should be well-versed in managing the relationship.
After sending the RFPs and finalizing ads for distribution, the buyer has the task of negotiating for ad space in respect to exposure and traffic. A proper homework is done before the buyer justifies the price tag to do the ad within or lower than the budget.
After negotiating and buying the ad space, the media buyer’s final job is to keep track of the displayed ads’ course of campaign cycle. It is checked whether each ad is properly optimized and if not then further action is taken.
To ensure that the campaign is successful in running over the selected platforms, both media planning and buying should be done strategically. As both are dependent on each other, media
buying without proper planning or media planning without apt media buying will not promote the business. Analyzing budget, target audience and media platforms is important in both cases of media planning and buying.