What is Media Planning and Buying?
Media planning and buying are strategic techniques that businesses utilize to increase brand awareness and get more customers. Both are typically outsourced to agencies, though some companies choose to do it in-house.
Why learn about Media Planning and Buying?
Media planning and buying is essential to the growth and success of any company. Companies from Netflix to Google and any of your favorite brands have big media planning teams or outsource this work to an agency. Learning more about this topic will help you become a better advertiser.
About this Free Media Planning and Buying Micro Course
In this short media planning and buying micro course we give you some general information on why this discipline is so important. The course video is followed by a short quiz so you can earn coins and a badge for taking the course.
Here is an excerpt from the Media Planning and Buying micro course video.
Media planning is the process of outlining the most suitable media to promote a product or service. Media options may include paid search ads, newspaper ads, prime time TV slots, outdoor placement, as well as online and social media ads.
Media planners are in charge of developing a plan on when, where, and how often a message should be advertised. Their goal is to reach the right audience at the right time in the right place to get the desired results.
Media buying is the process of purchasing a share of media from a media owner – a TV channel, newspaper, outdoor site, website or social media platform.
Media buyers take the media plans into account and purchase actual ad time and ad space, guaranteeing the best rates from media owners. The main goal of this process is to reach the highest number of prospects at the lowest cost possible.
- Global media planning and buying market is huge and contributes to 65% of the total advertising market size (1).
- The industry was valued at $355 billion in 2016 and is expected to grow at a compound annual growth of 4.7% over the next five years (2).
The industry success can be attributed to the relentless growth of digital media platforms and spends and adoption of revolutionary technologies such as programmatic buying.
NetFlix hired Mediahub to help grow viewership of the new season of Black Mirror. The target audience is technologically savvy, hate advertising and use ad blockers. Mediahub knew that traditional media buying would not work since the ad blockers would block the campaign. Instead Mediahub worked with tech focused websites like The Next Web and Mashable where the audience spent a lot of time. They got the publishers to hard code the advertising into the website to avoid the ad blocker. They then tailored the message to say we know you have ad blockers but this ad is watching you. This work around echoed the creepy nature of technology which is the focus of Black Mirror. The target audience loved it and the results were amazing. The show got record breaking viewership that year.
Media buying doesn’t not have to be boring. Work hard to grow this skill and then innovate so you can make a name for yourself.