Implement Media Buying Process With These 9 Steps and Get More Reach for Your Brand
Updated on June 4, 2021 | by Kamal
If you need your business to not only survive but also thrive, you need to employ proper marketing strategies to bring customers to your store. You should design your marketing strategy in a way that will improve your brand’s visibility and raise your Return on Ad Spend. Certain strategies are time-tested to provide this result; you just need to find the right one for your business. If you are unsure where to begin, it might help seek information about franchise and chain media buying options with local brand advisors.
For the best results, adverts for any business must be written well and targeted to the right audience – potential buyers. It is no longer effective to cast a wide net by posting adverts everywhere and every time without considering your target audience. Different businesses churn out virtually millions of adverts daily for consumers around the world. If yours does not stand out or is not targeted at a specific audience, then there is a high chance that you will not get any attention.
Also Read: Tips to expand your email marketing database
You do not need to worry, though, because you can push your business in the right direction by employing the correct media buying process. Media buying involves purchasing advertisement spaces on channels appropriate to your brands to improve your brand’s visibility to a highly specific target audience.
So, how do you implement an effective media buying strategy? Below are 9 ways to do just this:
1. Budget Well for Your Finances –
Proper budgeting is an important requirement for any marketing campaign. Although more often than not, the more you invest in advertising, the more the returns, not all businesses can dish out obscene amounts of money to stay on top of their game. You need to purchase a media marketing strategy that is within your financial ability.
2. Know Your Audience –
Many businesses have failed because they do not know who their target audiences are. If you don’t know who you want to sell your product to, you cannot purport to have a working media marketing strategy. For instance, if you are selling sports shoes, you might do better buying an advert space in a sporting channel with a considerable following.
3. Check Out the Marketing Strategies Employed by Your Competitors –
Always maintain a competitive edge with your competitors. Find out what is or is not working for them and incorporate such valuable lessons in your marketing plan.
4. Focus on How Your Brand is Beneficial to Your Consumers –
Many customers will react better to brands that are beneficial to them as opposed to those with other qualities such as luxury. As such, your adverts must be tailored to address this need in potential clients if you want your brand to sell. For instance, instead of focussing on how your shoe brand is made of pure hand-stitched Italian leather, you may want to emphasize the brand’s extra comfort and durability.
5. Pick the Timing of Your Media Advertisement Spaces Well –
Every media outlet has its peak hours when its audience is at its peak. For mainstream media outlets, this might be during the news hour, while it may be during a live match for sports outlets. Although buying an advert space during such times might be more expensive than during other times, it is during such times that adverts yield the most Return on Ad Spend.
6. Collect and Analyze Data –
For every advert that you put out, you need to collect data regarding their performance. Analyzing this data will give you useful insight into whether your investment is worthwhile or not.
7. Make Appropriate Adjustments Using the Analysis –
Depending on your analysis results, you should make changes to your media buying strategy to optimize it. This involves investing more in whatever seems to work for your business.
8. Know When to Drop Failing Media Buying Strategies –
This might seem like common knowledge. Still, you will be surprised at how many business owners waste their money, energy, and other resources trying to make a failing strategy work. It is important to know that there is no single strategy bound to work for all businesses. You only need to identify the one that works for you.
9. Employ a Local Brand Advisor to Help You –
Getting a media buying right and optimizing it takes a lot of time, energy, and research, particularly when you have no clue what you are doing. This is why hiring an expert might be the best way to go for you. Sit back and concentrate on your core business and let the marketing experts do what they do best.