Module 10: Online Media Buying
First You understand Media Buying.
In advertising management, media buying is the procurement of media inventory. The media buying function negotiates price and placement for advertisements.
Media buyers negotiate and purchase audience-targeted time and advertising space to convey a marketing message.
They consider station formats, pricing rates, demographics, geographic, and psychographics relating to the advertiser’s particular product or key performance indicator (KPI). All media inventory goes through phases of optimisation, which is dependent on budget, type of medium (radio, internet, TV, print etc.), target audience and targeting. Media buyers can purchase media inventory regionally or nationally. National media buyers might have to factor in considerations based on their particular geography. Rates, demand of leads, space, and time, and state licenses vary by state. National media buyers need national media planning to generate national media marketing strategies and national media advertising that can be adaptable from area to area but also work on a national level.
Media research planning can be done by media buyers as well as media specialists. Depending on product and service, Media Buyers and Media Specialists must do a fair amount of research to determine how best to spend the allotted budget. This includes research on the target audience and what type of medium will work best to reach the largest number of consumers with the most effective method. Media planners and media specialists have a vast array of media outlets at their disposal, both traditional media and new media. Traditional media would include radio, TV, magazines, newspapers. New media might include satellite TV, cable TV, satellite radio, and internet. The internet offers a number of online media channels that have surfaced with the improvement of technology and the accessibility of the internet. Online Media can include social media, emails, search engines and referral links, web portals, banners, interactive games, and video clips. Media Planners and Specialists can pick and choose what and/or which combination of media is most appropriate and effective to achieve their goal, whether it is to make a sale, and/or to deliver a message or idea. They can also strategize and make use of product placements and Positioning. Inserting advertisements such as print ads in newspapers and magazines, buying impressions for advertisements on the internet, and airing commercials on the radio or TV, can be used by both Direct-response and remnant advertisers.
Both types of Media Buying important. But here you can Learn Online Media Buying.