Brands heavily depend on marketing their products. Marketing is considered even more important than the actual products. Media is a very handy tool of marketing and if used properly, can help increase sales by a huge percentage. Media buying is a large part of marketing campaigns nowadays, and it has proven to be quite effective in generating sales. The consumers today are absolutely jaded and immune to the marketing techniques of the brands. This is why the companies need to come up with campaigns that cut through the clutter and get the attention of the target audience.
Media buying and placement are very important for the brand’s marketing campaign. It is an art not everyone can master. There is a lot of luck involved in it as well, but expertise makes a lot of difference. The main idea behind a successful media buying strategy is that it sets you apart from the crowd and your competitors, making a mark in the mind of the consumer and staying on top of it. There are a few tips that can help create a brilliant media buying strategy, which in turn will skyrocket your campaign:
- Know you’re Competitors: Companies usually forget about their competitors while devising their media buying strategies. This is a pit fall you need to avoid. One must know the strengths and weaknesses of his competitors so that you could play in the gaps. Your media needs to be able to break through the clutter. So devise a media buying strategy that is different from your competitors and sets you apart in the mind of your consumer.
- Know your Target Audience: This is the most important point, as the success or failure of your campaign depends on your target audience. Research them thoroughly and use fact and statistics to devise your campaign.
- Know Your Product: A successful strategy is all about getting the edge over your competitor and making money from where they can’t. In order to be able to devise a successful strategy, and know your niche, you need to know your product inside out.
- Patience: Very few media campaigns will be profitable instantly. The big mistake companies make is to abandon campaign in a short period of time, if they don’t seem to be getting attention. This gives the brand an aura of inconsistency. Stick to your campaigns and give them time.
- Keep Testing: Never stop testing. You never know which campaign would work, or what aspect of a campaign would work and make you rise above all others. So keep exploring and running multiple small campaigns together.
- Analyse Statistical Data: This will help you make decisions about your campaigns and media buying. Don’t get into things too fast or don’t pull a campaign if it isn’t giving results too fast either. Correlate the data and make informed decisions about the parameters. This is media buying 101.
- Know your Traffic Type: Every traffic has its own properties. Don’t mix mobile traffic with desktop traffic. This could cause your campaign to go belly up instantly. Select the media according to the traffic type.
- Get Better Deals: Try and get better spots and placements by negotiating with the providers, so that you get a better value for money. You can negotiate on the frequency or the placement at the same rate so that you get a better reach.
- Change One Parameter at a Time: Try and make one change at a time, if you must. This way you will know what is working on increasing your impact.