What Is Media Buying & Banner Advertising All About?
Media buying is the business of purchasing advertising space and time on web, TV, radio or other digital media to run ads and reach customers. It helps businesses to get targeted traffic on their website.
But before buying online advertisements there is a phase prior to that which is called “Media Planning”. It assists you to examine your competition and web sites where you are looking for buying the ad space.
Brands and agencies want to boost their brand awareness, increase sales, reduce time consumption in buying cycles, and give more time to analyze, learn and optimize performance in order to build an elegant media decision.
Media Buying is paid advertising media that varies from
“earned” or “owned” media. By keeping a budget in mind,
the very first step in media buying is that you need to
determine when and where your ads should appear.
Important Things You Need To Keep In Mind - Media Buying is the best online visual advertising method to analyze your ROI. It is generally done on a CPM (Cost-Per-Mile) basis. You need to keep in mind the following points to build successful media buying strategies:
1. Why: Why do you want to use Media Buying and what are you attempting to accomplish, such as: increase sales, improve ROI and brand awareness, building a community, expand your reach, and many more
2. Who: Your audience is whom you want to target and attract to visit your website. You can define audiences by targeting them per their demographics such as: age, gender, interest and profession, etc. You can also take advantage of geographical targeting to target them according to their locations.
3. Where: Where can you look for your potential customers, which websites do they visit and where can you advertise to get them? You need to find websites related to your niche where your audience visits and advertise your campaign on those to get more and more visitors.
4. For how long: You have to set the time span when you want to run your ad on a particular website. To do this, you need to analyze the particular time frame when your targeted audience can be easily reached.
5. What is the Budget: How much money can you spend on your Media Buying campaign? Defining the cost will help you manage your complete campaign expenses easily. You can start advertising with less than $50, and you can spend as much as you want.
6. Type of Media Buying: Which type of Media Buying method are you going to use in your marketing strategy?
7. Use tracking: What are your tangible goals, such as: what is your ROI, how many sales and clicks you received, how many new followers you get, etc? You need to analyze your Media Buying campaign to know about your ROI, sales and followers.
How Does Media Buying Work? - Media Buying is one of the
most consistent and definitive traffic sources to
achieve long term goals by buying ad space on those
websites which recognize your needs and serve ads to the
relevant audiences. Here are several types of media buying
methods, you can choose the suitable one according to
• Direct Buy: Direct Buying is good for Small businesses
and starters. You can directly buy the ad space by
dealing with the owner. It is affordable and helps you
to build relations with the site owner. Setting up your
own Media Buying Campaign is easy. You can go for a
direct media buying strategy with particular website
owners related to your niche to get huge traffic from
other web pages.
• Intermediate Buy: Intermediate Buying is good for beginners and established businesses. Here small networks work to bring together publishers and advertisers. Small businesses can acquire the ad space on the basis of fixed monthly payments, CPM based and CPC. It is a 100% self-serve platform. Some Intermediate agencies are AdOnion.com, BuySellAds, exoclick, MEC Global and many more.
• Network Buy: Network Buying allows you to buy media space that covers thousands of distant websites. By doing this, your chances for success increase many fold. But, it can also hamper your business if you do not have accurate numbers. With a Network buy, you get a more favorable ROI than an Intermediate Buy or Direct Buy. You need to be sure that you own an “out-clause”, and always run even delivery because traffic comes intensely and energetically.
• Where to Book Ad Space: Media Buying is the strategy
of running your ads on different websites to get
targeted traffic. You can segment those websites
according to their reach and interest. You can take
advantage of Media Buying Agencies which provide media
buying services to help businesses. These services will
save you time and money. You can check out BuyAds,
BuySellAds, Burst Media, Valueclick, Google Ad Network,
and many more. Using Google Ad Network assists you to
advertise your ad on some highly visited web pages.
• Networks and Exchanges: Advertising your campaign with networks can connect your business with many small and big websites. The networks market their affiliate websites ad space to sell on CPM (Cost-Per-Mile), CPC (Cost-Per-Click), and CPA (Cost-Per-Action) basis. Google, Yahoo, AOL and Microsoft have their own set of policies. There are millions of other websites such as CPX Interactive, ValueClick, BrustMedia and AdBrite. Many businesses take advantage of multiple websites for their ads to generate more revenue.
• Social Media: The audience is more active on social media (Facebook, Twitter and Foursquare and many more), so by not being active on it, you are losing a lot of traffic. You can incorporate Social Media into your Media Buying campaign to increase conversions. Buying ads on social media can also help to you to get success. You have to focus on Objectives, Ad Placements, Ad Types, Targeting Options, Data & Insights, Measurement, and budget. With Social Media you can target a huge audience according to their interest, demographics and geographical location.