Key Insights into Media Buying Process and Objectives
Discover the intricacies of media buying, including its role, objectives, criteria, process, components, and the art and science behind it. Uncover the importance of strategic ad space purchases, negotiations, and tracking for optimal brand positioning and audience reach. Learn how media buyers play a crucial role in shaping successful advertising campaigns.
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Presentation Transcript
MEDIA BUYING TYBMS SEM VI
WHAT IS MEDIA BUYING? Media buying process is a set of strategic wholesale multi-platform ad space purchases, negotiations, and arrangements aimed at finding the most advantageous placement at the lowest price for the period. Media buying means the procurement of media space and time for displaying ad creative's. Media buying refers to purchase of all possible advertising space for its further realization. Media buying services are provided by buying agencies (media buyers), as well advertising agencies. as local or national
ROLE OF MEDIA BUYER The Media plan The Pricing The Negotiation The Tracking The Monitoring
OBJECTIVES OF MEDIA BUYING To ensure that the brand is well positioned Higher GRP is delivered Increased reach and frequency To ensure message is delivered in creative way To enhance Brand recognition Delivery against measurable objectives To influence buying behavior
CRITERIA IN MEDIA BUYING Objective of the firm Company s financial position & Media Cost Reach of the Message Target Market/ Type of Buyers Circulation and coverage Repetition or frequency Credibility and image of media Company s past experience Experience of other companies Government rules and regulations Type of product Availability of medium
PROCESS OF BUYING PROCESS Buying Brief Environmental Analysis The science and art of buying Benchmarking Buying plan presentation Deal Management Post Buy
COMPONENTS OF BUYING BRIEF Market Media objective Media Budget Target Audience Approved media plans Campaign period and scheduling strategy Innovation and events
INTERNAL SCANNING Environmental analysis EXTERNAL SCANNING
ART AND SCIENCE OF BUYING Understand the target market Understand their decision making Understand the goals of your Media buy Negotiation Using clout or influence Cutting the competitors Striking with data approach Carrot and stick approach Hold another vehicle in the group Founder brand approach Down play budget approach Understanding sellers context Flexible approach Using market knowledge
BENCHMARKING &PLANNING THE PRESENTATION Comparing with previous years Comparison within types Comparing with other clients within the agency Comparison with the competitors Buying Audits Using the power point Reason for channel choice Maintaining priorities
DEAL MANAGEMENT & POST BUY FOLLOW UP View deal ratings Visibility Define multiple criteria Price dashboard Compatibility Post buy follow up
BUYING BRIEF THE CONCEPT OF BUYING BRIEF The Objective Product Category information Geography/ Location Seasonality/ Timing Target Audience
ELEMENTS OF BUYING The advertising objective Brand positioning Advertising strategy Demographic/ Psychographic analysis of target group Target audience as per media strategy The advertising directed towards target group Target Audience Media selection justification Responsibility of each medium Media Budget Number of Ad s, size, duration, caption & titles, Language, theme Creative Units
ELEMENTS OF BUYING By, Market, Media, Creative's etc Media Objectives Marketing activity schedule Promotion plans Plans according to seasonality of activity Campaign period & Scheduling Channel or publication selection GRP and reach targets Planned budgets Approved media plans
ELEMENTS OF BUYING Qualitative fit with the brand Scheduling for impact on sales Reach versus frequency maximization Programming Strategy Associated promotional event planning according to the target audience Innovations and events
