Media Buying: The Three Stages
You want to find the right time, place, and context to deliver relevant ads to your target audience, so you can increase conversion rates, sales, or brand awareness. Media buying is an important step in the advertising process. Your goal is to secure the best slots, on the best platforms, for the best price.
Watching this video is worth 1 Management Courses CPD Point*.
🔎 See below for details
Marketing for Managers
This video is part of course module number 8.3.5
Program 8: Managing Customers & Clients
Course 3: Marketing for Managers
Section 5: Advertising
Other videos in this section include:
🎬 What is Advertising? And What are its Benefits? https://youtu.be/ksnD_EAeBqI
🎬 Planning an Advertising Campaign: Campaign Objective and Budget https://youtu.be/cVk1N0CedK0
🎬 Advertising Agencies: What They Offer and How to Select and Brief Them https://youtu.be/5l1Z8EUf8l8
🎬 The Creative Process: Developing, Writing, and Producing an Advert https://youtu.be/9-Fn_7-hg2M
🎬 Top 20 Strategies for Persuasive Ad Copy https://youtu.be/P3JWveZwso4
🎬 All of the Advertising Media I Can Think of https://youtu.be/Eixco65Q3rQ
🎬 Advertising Campaign Monitoring & Evaluation https://youtu.be/x4jydb5wUL0
Media buyers buy advertising space for their clients. The buyers then negotiate with different publications, websites, TV channels, social media, and radio stations, to secure the slots that will deliver the campaign their client needs.
Advertising media companies produce rate cards. These contain information on the rates they charge for advertising, or the process for bidding for space in competition with other advertisers.
With some media, it is usual to negotiate on the final price.
The Media Buying process has three stages:
1. Before: Pre-campaign launch
2. During Campaign
3. After: Post-Campaign Review
• Identify target audience
• Find ways to reach them
• Research competitors
• Select channels
• Choose outlets
• Make estimates and allocate budget
• Buy media placing
• Document specifications in contract
• Audit delivery of averts by media according to contract specifications
• Review responses from customers and from competitors
• Revise your plan accordingly
• Collate campaign data
• Analyze campaign effectiveness
• Review lessons learned
📖 Very quick overview
Marketing: A Very Short Introduction https://geni.us/ozSJF
📖 Good general overviews
Kotler on Marketing https://geni.us/JNeVHy
Positioning: The Battle for Your Mind https://geni.us/kGj4KCA
The 22 Immutable Laws of Marketing https://geni.us/RVU1
Marketing For Dummies https://geni.us/sZXAw
📖 Small business marketing
The 1-Page Marketing Plan https://geni.us/Xb4wBk
📖 For a textbook, you can’t go wrong with Kotler’s name on it!
Marketing: An Introduction https://geni.us/q4gzVOw
Principles of Marketing https://geni.us/gsFeMT5
Marketing Management https://geni.us/i3FO
⭕️ Links to our book recommendations are affiliated through Amazon
Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)
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00:00 – Why media buying is important
00:37 – What do media buyers do?
01:28 – Rate cards
02:13 – Stage 1: Before the campaign launch
03:10 – Stage 2: During the campaign
03:36 – Stage 3: Post-campaign review
04:09 – The value of good media buying
#MediaBuying #ManagementCourses #Advertising