I often encounter companies that take a DIY approach to their advertising. Advertising is not a short-term affair. In order to brand your company and reap any return on investment (ROI), advertising has to be strategic and consistent. The secret to developing successful advertising campaigns is to determine a budget and develop a plan of action.
A company may expend the resource of using someone in the office to call various media outlets to obtain pricing or pull research. This process can take days or weeks to compile and develop. In addition, the software and media tools are also very costly. Through an advertising agency, media buyers have access to software, tools and relationships with contacts that will help your company develop accurate and cost-effective campaigns in less time. In the world of advertising, timing is critical!
Understanding the Analytics
A good media buyer subscribes to media buying software, quantitative tools and qualitative data to help calculate industry formulas, audience ratings and audience demographics. An understanding of the media industry and knowledge of media analytics creates the ultimate strategy in determining how to reach your ideal consumer. This information is critical in developing a plan of action for a company to have an efficient and effective advertising campaigns.
Develop a Strategy
It is a mistake to advertise on a radio station just because you listen to it on the way into work.
Developing a strategy is the best way to maximize your advertising dollars. Here is an example of a strong advertising strategy:
Sponsoring drive-time traffic reports
Ads in morning TV news when people are alert and attentive; during school lunch menu sponsorship's or weather reports
Strategically placing outdoor billboards along heavily commuted routes
Internet advertising, Google AdWords campaigns
Integrate a strong social media presence along with traditional media
Across all media platforms, it is important to convey a consistent message with the same keywords and/or tag lines. Part of the strategy is not limited to being consistent, the message has to also be effective and appealing to your target audience. A company will only have 5 to 60 seconds to make an impression with the consumer; this is why consistency, repetition and being memorable is critical.
Individual sales reps for radio, TV, print and outdoor organizations may fail to miss the big picture of what you are trying to accomplish with your advertising. They are solely focused on selling you their product! A media buyer will develop an integrated advertising plan across all platforms. Media buyers have established relationships within the media community allowing you diversity when purchasing advertising space and time. That means, on a regular basis, a media buyer receives discounted rates plus provides the experience of negotiating additional exposure as bonus. They also are familiar with the rate structure in the market so they understand that rates may fluctuate and know if you are being offered a rate that is higher than average.
Another advantage is often advertising experts receive bulk rates because they represent multiple clients and companies. Instead of communicating with multiple media sales reps in various mediums and markets throughout the United States directly; a media buyer can funnel the information and represent you easily.
Who Pays the Media Buyer
Accredited advertising agencies receive what is known as an “agency discounts” which allow all media vendors to pay for the media buyer’s service. That means you receive expert advice and guidance at NO charge! It is a “win-win” for all parties.