What is Media Buying?
If you’ve looked at our services, you will see media buying is among them. But media buying is a littles less straightforward than some of our other options, like animation, graphic design, video editing and social media. So what exactly is media buying?
Media buying is the process of purchasing and executing ad placements or as it’s also commonly referred to as, inventory. There are professionals whose job is to plan what inventory to buy and they must carry it out as well. They must think about what product is being advertised, the audience that the product is intended for and what the goals for the campaign are as expressed by the company. Here at Adrenaline Broadcasting, we have professionals who are well-versed in media buying that can help obtain the ad placements that will most effectively promote your company’s products, all while working with you to ensure the goals for the product campaigns are being met. In addition, as is the typical role, our media buyers will continue to achieve peak performance throughout the entire campaign lifecycle. When it comes to a campaign lifecycle for media buying, the trajectory usually entails: plan, buy, order, traffic, analyze and reconcile.
First, the planning must commence. Media buyers ask the questions: what is the target audience? How does the target audience vary by medium? What mediums will be most effective for this campaign and company? What are the goals as set forth by the company? Then, market buyers will start to plan how they will spend the budget for the campaign and on what types and instances of medium. This includes what amount of the budget will be spent on guaranteed inventory versus non-guaranteed.
Then, the actual buying can take place. The buyers must secure approval for the media plan prior to submitting it and will also submit budget line items. They must solidify the number of impressions and rate at which they are purchasing inventory. Once everything is squared away and the client is happy, the ordering can began.
The media buy can now be executed and placements will be sent to the ad server. However, there is some wait time involved as placements will wait to be served to the correct audience. It is important to note that orders are processed as IO’s or insertion orders- what’s different about these is that they include planned billings for a campaign.
This part involves a trafficking team which logs into the ad server for the campaign and tags placements on the ad server for size, media type and more associated with each campaign. Back-up static is also tagged in this process, which Adrenaline Broadcasting can help your company with.
This part of the process measures success, using first-party delivery data and data from the agency ad server, known as third-party data. This process also entails pacing, which measures how the budget is spent in relation to campaign success and flight.
In the last step, agencies and publishers compare their data (first and third-party sources) and see if there are any differences. Financial amendments may be executed at this point if deliverables were not achieved.