When you begin seriously marketing your business, your publicist or marketing manager will pepper you with terms like out of home advertising and media buying. All marketing involves the four Ps – product, price, place, and promotion. Methods of promotion differ. When you use advertising, your marketing manager will probably discuss media buying often. Typically, you will find it a popular topic at any traditional or digital marketing strategy meeting. You need to know the two main types and how they differ so you can make reasonable decisions regarding their recommendations.
You make a media buy when you make any advertising purchase. Your media buy could be in the form of a pre-priced package or require negotiation to determine price and placement. The term refers to the actual purchase, but the process of determining new advertising venues also falls within this broad term of reference.
Your marketing manager will discuss traditional and digital media buying. These two options target vastly different groups. Digital media buying refers to bulk purchases of Internet advertising. Traditional media buying refers to purchases of billboards, print, televised, and radio advertising.
You can use these media to generate leads, build visibility, share your message and/or drive specific promotions. They’re especially helpful when you use them in conjunction with other media in a larger campaign.
Buying in Traditional Media
Buying in traditional media varies vastly. In digital buying, you typically purchase a package of impressions measured in cost per thousand (CPM) for a flat rate. Purchased in bulk, you may schedule these impressions or spread them throughout a 24-hour period for daily advertising. Traditional media varies by the medium.
Television: In buying for television, the marketer considers lead demand, rates, time and space. The total cost depends on the campaign’s target audience location with the cost varying between a city, and regional or national distribution.
Radio: The same considerations exist for radio/radio Advertising – lead demand, rates, time and space plus location. In radio/radio advertising, the ad runs consist of the number of spots it runs during each day.
Magazine: The broad category of magazines refers to business magazines, industry publications, trade journals, popular magazines, regional magazines, and niche publications also referred to as zines. Print/print advertising considerations include space determined in copy inches, rates, and time in the sense of the length of the ad run. The latter could be a one-off, seasonal (three months), half-year, or full year. The number of issues during those periods would determine the number of ads run. For example, a weekly publication would provide 52 ads in a full-year package, but a monthly magazine would provide 12 ad runs.
Newspaper: Another print/print advertising option is newspapers. These typically publish on a daily or weekly basis. Advertising in newspapers also takes into consideration space determined in copy inches, rates and time in the sense of the length of the ad run. Media buys in this medium typically include three-day runs, weekly or monthly.
Other: This miscellaneous category includes items like billboards and building murals referred to as out of home advertising, plus items like phone book ads that do not fit into other print medium categories. The former requires rental or purchase of real estate. The latter requires an advertising purchase like that of newspaper or magazine except that the ads get purchased in an automated manner renewing year after year. While not programmatic, it is close.
Stages of Media Buys
Your marketing manager or media buyer goes through a great deal of research before making a purchase. They determine which medium and combination of placements and timing would optimize the client’s return on investment (ROI) while respecting their budget.
The research begins with the business’ or product’s target audience. This provides the information to determine the proper ad venues. This process includes the study of demographic and geographic research. Referred to as tailored advertising, this emphasizes niche advertising rather than a mass audience approach.
The buyer also considers budget in placement decisions. Smaller budgets find themselves limited to local or regional runs in traditional media. Larger budgets can place ads in regional or national markets.
Other Considerations in Buying Traditional Media Ads
Perhaps you want to handle your own media buys. You could, but you would obtain better deals by working with an experienced marketer like Bake More Pies. This can land you deals because professional media buyers have well-established relationships with media planners and channel owners. Their working relationships and friendships can result in better placement and timing.
Another reason to choose experienced buyers is they know the industry and which publications, or stations provide the ideal venue. This plays special importance for business-to-business marketing. This typically includes advertising in industry publications, but it also includes event sponsorships. A savvy media buyer knows which sponsorships result in getting the business in front of other relevant businesses.
Our staff at Bake More Pies uses professional tools to evaluate each media buy for overall reach and frequency. We consider market research from Arbitron, Nielsen, PPM, Scarborough and Tapscan to determine the ratings of each media outlet within the medium. Kantar provides us a qualitative picture of the potential performance of a campaign.
While some agencies use a request for proposals (RFP) method to reduce the number of potential advertising outlets, Bake More Pies uses research to determine the best placement. We negotiate the best placement prices to provide the ideal inventory to improve your reach.
When purchasing traditional media placements, most buys are done at a flat rate. Newspapers and magazines issue rate cards. These rate cards provide the cost per column inch of advertising space. The length of placement can result in discounted rates. For example, an advertiser would net a lower ad rate per day for a half-page ad that runs a full week, than for an ad that runs for two days. The largest discounts occur when the advertiser purchases a full year run.
How Bake More Pies Can Help
A lot goes into your marketing plan. Bake More Pies offers you a full range of services to provide the right marketing strategies for you in your marketing plan. We can provide a digital marketing strategy and execution that works with your traditional strategy.
Your business needs both digital and traditional media buying. Only research and analysis can determine the appropriate mix of the two though. We conduct that research and analysis for you then present you with the best possible solutions.
Our existing relationships with local, regional and national media outlets provide you with the best purchase prices. We negotiate for placement and price.
Our diverse service offerings mean you work with an agency that provides every aspect of your marketing and advertising. Bake More Pies can help you design the ads, film or record the spots, test them, perfect them, research their placements, negotiate their placements, place them and track their success. We can also help you hone the ads so they perform their best.
Let us help you get started today. Call us or contact us online. Bake More Pies wants you to draw more people into your sales funnel and move them through it resulting in more sales for you. Call us today!