Digital marketing and online advertising have gained much prominence in the last few years and have often been utilised to stimulate business growth. This growing understanding has also made ways for a Digital Media Buying Agency to provide their service in exchange for a specific price rate.
Media planning and media buying are complementary to each other. While media planning focuses on building a useful strategy for marketing and advertising, the media buyers will work on these strategies and provide a cost-effective media channel option. Before we dive deeper into the media buying strategies of 2022, let us first talk about media buying in general.
What Do You Understand By Media Buying?
Media buying is associated with acquiring media space and the time slot for the digital campaign. A Digital Marketing Agency must have the proper knowledge of media planning and buying. Apart from being concerned about the media space, media buyers are also responsible for monitoring the ad performance and optimising it by adjusting the strategy. In short, the role of a media buyer is to get the message across to the company’s target audience in an effective manner.
The job of a media buyer is to create successful ad campaigns with the highest ROI. For this, they will have to be precise throughout the execution process. The ads should be relevant to the target audience and presented to them at the right time. Media buyers will always find you the best opportunity in choosing the right media platforms that will have a significant impact on the business.
How Does The Media Buying Process Works?
A good Digital Media Buying Agency has a vivid idea of the media buying process from experience or sheer knowledge. As mentioned before, media buying is about the right timings and correct platform and the relevant context for a successful ad campaign recipe. All of this is done to increase brand awareness and conversion rates.
Planning & Strategizing
While the planner is mostly responsible for the planning and strategizing for an ad campaign, the media buyer has to choose the right media platforms on which the ad campaign could be launched. All this also has to fit the company’s budget, and the media buyer has to make sure of it.
Choosing The Best Media Outlet
The next step of the media buying process entails the execution of the ad campaign. A Digital Media Buying Agency will look through various media platforms and determine which platforms they would most likely advertise. Going with the current times, the media buyer should try to implement a combination of print, television, radio, and new media to gain access to a huge target audience. The media buyer will send a request for the ad campaign to all media outlets they have decided on.
Negotiations & Buying
The cost for an ad space varies from one media outlet to another. Media buyers are given the task of negotiating the cost before investing. Media buyers will determine the most cost-effective options out of the chosen media options. Once the price gets determined, the media buyer can head for purchasing.
Though the online space does not allow negotiations, most of the process is conducted automatically rather than depending on manual intervention. This is why any Digital Marketing Agency will have to be wise enough in its planning and strategizing for the desired result with your ad campaigns.
As the campaign is launched, your ads will appear on the platforms you paid for. As soon as the launch, the media buying company will have to take notes of how the campaign is progressing. They will evaluate if the ads are performing as expected and determine if there are any changes required that can be applied to the next lot.
Result Monitoring & Optimization
Media buyers will continue monitoring the ad campaign throughout its runtime. By monitoring and evaluating the ad campaign, they can optimize it. If any adjustments are to be made, according to the data, it should be looked into right away. It is important to detect problems early in this regard, so changes can be made on time without jeopardizing the campaign. This allows the media buyer to find a better opportunity for getting their message to the target audience.
What Should Media Buyers Do To Thrive In 2022?
A Digital Media Buying Agency will have its own set of ideas and tricks for 2022. However, we suggest a few tips that will be quite useful throughout this year. Here are three media buying tactics in 2022 that you can consider.
1. Programmatic Digital Display Advertising
Programmatic Digital Display Advertising is an algorithm that allows automated bidding. The display advertisement inventory hosts the bidding in real-time. This type of advertising is specially designed for a specific target group. In this way, the platform can form its very own target base using just data.
2. Pay-Per-Click Advertisement
A Digital Marketing Agency will most certainly know about Pay-per-click ads or PPCs. This media buying technique involves placing advertisements for special keyword searches based on intent. PPC advertisement has remained a common choice among a few because of its huge click generation. To top it all, PPCs are extremely budget-friendly.
3. Search Engine Optimization
SEO or search engine optimization is the most celebrated media buying tactic. The credit partially has to be given to the users, who are heavily dependent on the internet. Most of us know, SEO techniques are broadly used by web platforms to increase brand awareness and, above all, site ranking on a popular search engine platform. Incorporating SEO into the media planning and buying strategy will allow brand pages to feature in search results sending the message along with it.
The Final Sum Up
A Digital Media Buying Agency knows the best about media buying. They may also guide the journey, so your ad campaigns can succeed. This article was for you to understand media buying and a few tips for the year ahead.