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In advertising, media buying refers to the process of purchasing ad space with the goal of placing your ads in that space. The cost of this media can vary greatly depending on the website where the ad will be placed, ad type, size, time of day when the ad will be shown on the website and more.
Advertising media buys can generally be divided into three categories depending on who the media is bought from. The first type is a direct site buy, as the name suggests, this is when media is bought directly from the specific website where the ad will be located. The second type is a network media buy, this is when you buy media from a network of websites and your ad is then shown on various websites in this network. Lastly, there’s a self-serve network buy, which is close to the network media buy, but in this case, you are given complete control over your account and authority over when and how to place the ads.
Media buying is not a difficult task, but in order to do it right, you need to understand the main steps of the process. There are five steps that go into media buying:
When buying media, the first step is to figure out who you’re targeting with your campaign. Try to determine what is the age of your potential customers, how much they earn, what gender they are, where they live, etc.
Once you’ve defined who your target customers are, you need to do your research to figure out what they like, which websites and apps they use, what their behavior is and what they respond to. You can do your own research or use information available on marketing portals.
The next step is to determine what you want to achieve with your marketing campaign. Do you want more people to know about your brand? Are you trying to get more people to sign up for your email newsletter or follow you on social media? Or are you trying to get past customers to make another order?
Once you have the objective down, get to work and start figuring out the strategy for how you’re going to achieve the objective in the amount of time you have without going over your budget. Start by brainstorming some ideas and then narrow down the list to a well thought out strategy.
The last step is to actually start implementing your marketing campaign by buying media. Reach out to some websites or networks, get quotes and negotiate the price to get the best possible deal for your marketing campaign.