What is Media Buying? Types, Elements & More

Do you remember that banner ad you saw while visiting your favourite e-commerce website? If yes, then let’s cut your confusion, it’s the media buyers who do this job of marketing ad space and time and budget as well. 

Marketing alone doesn’t give your campaigns a great run, instead, it’s the apt time and apt message to send out to your target audience which makes any ad or marketing campaign a hit! Media buying is one such marketing strategy which helps your ad reach the target audience. So, if you want to explore this strategy, head on and read this complete blog! 

What is Media Buying?

Generally speaking, media buying is a procedure of recognising and purchasing ad spaces and time. But what are these ad spaces for? These ad spaces are based on your target audience’s relevancy.

They are available on online and offline platforms, including television, radio, print, websites, social media, and streaming. Moreover, if this procedure is accomplished effectively, you or the media buyers get the maximum exposure for their target market with the minimum spending. 

Types of Media Buying

Media Buying helps the ads to perform the best and with the below different types, your brand will have a long way to go, check them out: 

Traditional Media Buying 

This type comprises purchasing ad space and time directly from media outlets such as television, radio, magazines, and newspapers. 

Programmatic Media Buying

Programmatic Ad buying includes the purchase of ad spaces in real time using automatic technology. 

Direct Media Buying

This type is purchased directly from any publisher by negotiating without any third-party involvement. 

Real-Time Bidding (RTB)

As the name suggests this is done in real-time. It is a type of programmatic buying in which ad impressions are purchased and sold in real-time auctions. 

Private Marketplaces (PMP)

Private marketplaces include only publishers of high quality who offer their ad inventory to selected advertisers. These are invitation-only platforms giving more safety. 

Social Media Buying 

Ad spaces are purchased on social media platforms like Instagram, Facebook, Twitter, LinkedIn and more. 

Influencer Marketing 

One of the most popular marketing today is influencer marketing which comprises influencers with a large following on social media platforms advertising products or services. 

Search Engine Marketing (SEM)

This type includes the purchase of ads on search engine results pages (SERPs). 

What is a Media Buying Agency?

Media-buying agencies manage media-buying activities for any business. They follow a process that includes working according to the client’s goals, using creative media, and identifying the apt ad space according to the media strategy. 

Difference Between Media Planning and Buying

If you are also confused about the art of media buying and planning like many of us, head on to read this table for more information: 

Media Buying Process

To run your ad and get the best results from it, following the apt media buying process is important. Check out the 8 pointers highlighting this process below: 

1. Set up your Budget 

Begin with your budgeting which will include your spending on a specified amount of media inventory or an unspecified amount. 

• Send Requests for Proposals (RFP’s)

Also, decide on which media outlets you want to run your campaigns and the ones with probable results. 

• Settle the Insertion Order (IO)

You are also required to submit an Insertion Order after you decide on your media outlet. 

• Send out the Creative to the Media Outlets 

Make sure that each ad is in the apt size as per the specifications of the media outlet and then send your creative to the media outlets. 

• Launch the Campaign 

With everything right at the place launch your campaign. Make use of the apt software and metrics to track your results. 

• Constant Measurement and Optimization

To know your results keep track of your campaign’s KPIs on both the media outlet and internally. 

• Coordinate Ad Spending with the Original Budget 

Refer to your ad spending against the original budget and see your position. 

• Reconcile Costs and Negotiate 

In case any of your campaigns or ads or not performing as they should, you can reconcile those costs with your original budget and negotiate for improving performance. 

Elements of Media Buying Strategy

To reach your target audience and get the maximum return on investment, what do you think matters? Just research or budgeting will not rescue you, instead, there are numerous elements as mentioned below: 

• Target audience: Your target audience must be segregated based on locations, demographics, interests and user behaviour. 
• Media Channels: Choose the apt mix of ad channels such as TV, radio, social media, print or digital based on your target audience’s interest and campaign goals. 
• Budget: With the help of clear and apt budgeting for different platforms will help you with potential reach and cost-effectiveness.
• Content: Your content must be based on the media channel and also engaging so that users engage with it. 
• Scheduling: Know which is the right time to run your campaign which will include time of the day, day of the week or upcoming event to achieve best results. 
• Placement: Ensure you get the placement across different media channels as per the ideal rates and your negotiation skills. 
• Tracking: Tracking the performance includes keeping an eye on impressions, clicks and conversions and then adjusting strategies to get the best results. 

CONCLUSION

We hope you launch your ad or campaign using the most of media buying strategies. From launch to ad space to targeted audience, this is what media buyers help your brand with. So, don’t hesitate and make the most of it! 

FAQs

What is Buy Real Media?

Buy Real Media helps improve social media influence and presence. 

How does Programmatic Ad Buying work?

Programmatic Ad Buying makes use of the software to purchase digital ads. 

What is Media Buying Marketing?

Media buying marketing is buying traditional media or digital channel ad spaces. 

What are media-buying jobs?

Media buyers purchase ad spaces and time on multiple media platforms. 

Is there a media buying course?

Yes, there are short courses in media buying offered by numerous websites.