Important Insight on Media Buying
It is often said that change is the only fixed variable in life and the most adaptable species survive on its account. Digital media buying is an old concept that has evolved over the years. For a long time, businesses used media buying as a tool of effective advertisement. In the past media buys where placed on radio, dailies, billboards, and television. However, in this era of internet and digital marketing, magazines, the television, and radio ads are no longer as effective, especially with the youth. Although television still attracts a substantial market share, texting, gaming, and social media attract the youth of today. Advertisers have followed their customers and prospects to the platform that works for them and that is the internet.
The internet is as wide as the sea waters. If one casts their net on the internet blindly, they will catch all sorts of creatures. When fishing on the internet, it is wise to make targeted hunting in order to achieve the desired results. When businesses advertise on the internet, their main aim is to attract targeted traffic and to convert the traffic into sales. Targeted traffic hunting can prove to be complicated, tedious, and ineffective for businesses that are going about it the wrong way. Since the core competence of many businesses is not advertising, it is advisable to use modes that reduce costs and provide desired outcomes.
Instead of building or attracting traffic to one’s sight from scratch, digital media buying enables businesses to take advantage of existing traffic in other people’s or firm’s websites. There are companies that have been on the internet for a very long time and have attracted millions if not billions of followers over time. Such firms allow traders in the same niche or industry to tap into their traffic and create a channel of effective advertisement through digital media buying. The most common digital media buying tools used in digital media buying and planning are social media, digital displays, and mobile tools such as geo-fencing and in-apps. Other platforms include banner ads, links, web portals, search engine marketing, and interactive games.
When it comes to digital media buying the buyers and planners must attract, convert, close, and retarget. Digital buyers and planners must first carry out research to establish a platform that has its target audience, customers, and prospects. Once they have established their platform or platforms, they should determine the method that works best for their business model. Many businesses opt for media mix where they use a combination of platforms. However, due to budget constraints, some entrepreneurs may have to select the most suitable platform and stick to it. The platforms as earlier mentioned may be social media, mobile tools, and digital displays to mention but a few.
The next step is to understand one’s audience and to provide creative and suitable messages and ads for their consumption. The last step of this process is to evaluate the impact of the media buy and adjust appropriately to maintain relevance and impact.