For an online business, making its presence felt on the World Wide Web is integral to its performance. Visibility on the internet helps to create an identity as well as a brand name. Why I am emphasizing on the point of getting your presence felt has good reason behind it.
For instance, there’s a new advertisement (one that’s a great one), but there’s no audience for it. Now, tell me – if there’s no audience, will the advertisement create the impact it’s expected to? Definitely not!
You need an audience, and that too the audience you are targeting, to create an identity, an impact and a brand.
Having planted the seeds, let me now define what the term ‘media buying’ actually means –
Media buying refers to the simple process of buying media exposure. Anyone can buy media exposure and advertise to be in the limelight. Businesses, politicians, and even individuals can buy a share of media exposure from a newspaper or magazine, a TV channel, a radio channel, or a website, for the purpose of advertising.
This share of media exposure is paid, and can be used to market products, achieve a business objective or to create social awareness about a cause.
Having understood what media buying is all about; let’s now discuss the strategy to successful media buying.
- Find your Audience
First step to every type of marketing is finding your niche. You need to find your target audience, because without that your marketing efforts will go kaput!
- Know your Audience
Once you know your target audience, the next step you need is to know two things –
- Firstly, where will you find your target audience? (TV, Radio, Online, Print media)
- And secondly, what they want? (Things that will interest them)
Once you get an answer to the above two questions, your strategy planning will become easier.
- Have a purpose
Without a purpose you hardly have an idea about what you’re looking to achieve. Figure out the results you want to achieve with media buying, be it spreading awareness, or promoting a product or business or brand.
- Keep an eye on your competitors
You need to be informed about the moves your competitors are making, so that you can plan a strategy that works well in your industry.
- Build relationships
To be in an industry you need to build relationships with clients and media representatives. By doing that, you can negotiate with media representatives to bargain on the best rates and get the most optimal media placements you want.
- Finally, Analyze
A strategy can only be a success if its results are analyzed. Analyze the effectiveness of the media buying strategy and then use it to improve future campaigns.
Tags- Media Buying, Print Media, TV, Radio, Website, Advertisement