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Tips for the rookie media buyer.

7 Media Buying Hacks for Rookies

January 26th, 2016   ||    by Callie Wheeler

Media buying is one of the most significant steps in campaign marketing. Without it, broadcasters can’t make money and advertisers can’t show off their award-winning creative ads. Media buyers hold an important role that requires an understanding of not only the inventory available to them, but also how the inventory relates to the audiences they need to reach. Though media buying can be intimidating when you’re first starting out, the following seven tips will help you get up to speed:

1. Understand Your Budget

What can your budget afford you? Weigh your options by considering how much each media costs and how much money you have in your budget to spend. Be realistic about your budget so you know which purchases are worth the investment.

2. Know Your Audience

Knowing your audience’s preferences, ideas, and personalities will go a long way when choosing the right inventory for your brand. Does this particular ad put the right message in front of the right people? Having an in-depth understanding of your audience will give you the appropriate perspective as you consider various media buys.

3. Do Your Research

Once you know what you can afford and whom you’re trying to reach, do your homework on the inventory itself. Are the outlets charging fair rates for their inventory? How successful have the efforts of other brands been when they purchased from this outlet? As Videa president Shereta Williams addressed in an interview with MediaPost recently, new options are available for media planners to take advantage of data-driven purchasing decisions. Be confident you are partnering with the right inventory provider.

4. Think Outside the Box

Technological innovations create new opportunities in media buying every day. For example, programmatic buying incorporates perks such as audience targeting, which can be of great value. Consider new, original, and unique ways of buying inventory.

5. Set Goals

After choosing inventory based on your budget, audience, and confidence in the outlet and innovation, set realistic goals for yourself. Consider other marketing initiatives and the effect you hope this media buy will have on its own and in conjunction with other projects.

6. Measure Success

Evaluate the goals you set both during and after the campaign. Then, track performance across all platforms and look for patterns. Make sure you hold onto the results so you can draw conclusions about what worked and what did not.

7. Learn from Your Experience

As you determine your successes, be sure to think about what you can do differently next time. As media constantly evolves, so do the buying methods. Continually learning guarantees you are keeping up with the growth of the industry.

While media buying can seem overwhelming, it’s a vital component of the marketing and advertising industries. Consider these tips as you navigate through your media buying initiatives.

Curious about what programmatic media buying offers? Contact Videa today.

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