How often have you seen the banner ads on the websites you frequently visit? It’s not an unknown visual, and the advertisement displays are all over. But have you ever wondered who is behind these ads? It’s the Media Buyers who receive revenues from brands to showcase their advertisement to the target audience. The Digital Performance Marketing Agency is booming with creativity and versatility. Most eye-catching and viral advertisements are a way of delivering messages to influence the audience.
In older days, advertisements had few limited options to showcase their message to the consumer but with the emergence of digital media and social platforms, a whole new door has been opened for the creative and marketing industry. Many Digital Marketing Services are readily available today that help you design and advertise your business on various digital platforms that can help you reach more of your target audiences.
Finding the right audience on the right web platform is not an easy task, as it depends upon various factors. The success rate of a digital campaign depends on two important factors:
- Accurate Media Planning
- Right Media Buying
Most Digital Performance Marketing Agency uses these two sequentially to obtain assured and long-lasting results.
In this article, we will give complete guidance on media buying, which can help you run your campaign successfully.
What Is Media Buying?
While browsing your favourite social media platform, you must have noticed frequent ad pop-ups of sites you often visit! For instance, if recently, you have been browsing for sofa sets through some popular home decor websites, you must have encountered the ads from the same brand and the same products while surfing Facebook or Instagram! But how does it happen? Well, the Digital Marketing Services do this targeted marketing through Media Buying.
Media buying is nothing but a process of buying ad space and running campaigns on various social media platforms. This is done to reach the targeted audience. Media buying also includes monitoring the ad performance, optimising the results, and adjusting the protocol as needed. Media buyers are responsible for negotiating and purchasing the media space to run your advertisement and finding the right platform for the right audience at the right time.
The Goals behind Media Buying
The reason many companies invest in a good Digital Performance Marketing Agency is to build and escalate the brand presence and sales. These agencies act as media buyers and spread your advertisement campaigns to your target audience. It is essential to know your goals before leaping. To display your ad on the right media, you need to ascertain whether you want more conversion or if you are aiming at enhanced brand awareness
Media buyers find the best digital platforms through various algorithms. They analyse your service or products, study the demographics of your target audiences, scrutinise the customer’s online behaviour and does all the requisite speculation before placing your content on a platform. This ensures that your ad campaign gets maximum exposure and reaches the targeted goals.
Difference between Media Buying And Media Planning
A Digital Performance Marketing Agency will specify that both media planning and media buying are an integral part of any ad campaign. No campaign can get successful without strategic planning and proper execution. But there is a fine line that creates the difference between these two.
Media planning is done based on audience preference. It is to determine what content will be effective for a targeted audience. So strategic planning is the first phase. When the forethought is conducted and the campaign is ready to get published, then the role of media buying comes into play. Media buying involves selecting the right platform (at a negotiated rate) to showcase the media at the right time to get effective results.
The Negotiations Process
These days the entire buying process is automated and is known as programmatic buying. Even the negotiation happens online! The automated buying structure depends on three components.
SSP (Supply-Side Platform): Ad inventory is sold by the publisher
DSP (Demand-Side Platform): In this case, the advertiser showcases their campaign, starts bidding on ad inventory, and monitors the ad performance.
Ad Exchange: A marketplace where advertisers and publishers may purchase and sell ad inventory in real-time via competitive bidding.
The Process Of Media Buying
Planning Strategies
Although the key part of planning for an ad campaign is related to media planning, creating a strategy for media buying is also crucial. The media buyers allot the best platform within the minimum budget to get the maximum output. They create a plan based on the audience’s behaviour and subsequently detect the media type that should be used.
Identifying the Medium
After strategic planning, the media buyer will look for a variety of platforms where to showcase the advertisements. They can either look for a mix of traditional and digital platforms or entirely go for any one of the above. With the rise in the popularity of online media, companies are investing in various Digital Marketing Services to leverage the right digital platform.
Negotiation
Once the platform is chosen, media buyers will start negotiating to purchase the ad space at the best price. Each platform comes with various packages. The media buyers decide the appropriate package that can bring maximum benefit within a fixed negotiated budget.
Showcasing the Ads
The most vital part of media buying is launching the campaign. The media buying agency decides where and when to launch the ad campaign so that it offers the maximum impact. The agency also monitors the ad performance simultaneously, to know how the campaign is performing and what to do next.
Optimization: Once the advertisement is live, the media agency constantly optimizes it and makes certain changes to get the best out of the campaign. But all the amendments should be within the given budget, and the media buyers ensure that strictly.
Media buying is an important part of making your ad campaign successful. Good creative media content needs a correct platform to reach the correct mass who will find it interesting and useful. This can go a long way in enhancing your brand name and making it stand out. So collaborating with the right Digital Performance Marketing Agency is essential.
