What is Media Planning?
Media planning is known as the process that a lot of marketers use to determine how, when, and where they will run an advertisement. The main goal is to maximize the return of investment along with engagements. Through media planning, marketers can split their budget between various offline and online channels to try and increase their ROI. Nowadays, marketing has become very competitive, and marketers need to pick the right time and channel to convey the message to their customers. When you are coming up with a media plan, you need to make the following considerations.
- Conversion Goals
- The Marketing Budget
- Frequency of the Message
Now, let us move to the media planning process and take a closer look.
Market Research
For proper market research, you need to first work closely with the brand and understand what their marketing goals are and who their preferred target audience is. In the next stage, the media planner will start to gather and analyze the market as a whole. This includes things like research industry trends, identifying target audiences, and assessing the competition. The media planner also needs to determine the behaviors of the target group, what products they care about, and what media channels they are using every day.
Objectives
If the market research phase goes according to plan, the media planner can start to establish the media objectives. During this phase, the media planner will try to unearth information regarding which channels are going to be most effective for a particular audience. People today are consuming media from various sources and effective TV media planning, you need to find the right balance of all the sources so that your message can reach across the masses.
Budgeting
When it comes to any kind of business arrangement, the goal is simple, and it is to optimize the profit and keep the budget as low as possible. As a media planner, it is important that you deliver the brand’s message to the audience, but at the same time, it is also important that you allocate your funds cost-effectively. Going above the budget is not the only problem. Instead, budget allocation is also imperative. If you spend too much of your funds one thing, it will certainly decrease the overall outcome.
Execution
Now that you are done with the TV media planning phase, it is time to move on to the execution phase. In this phase, you are going to contact a media buyer, also known as “the executor.” The reason for this name is that the media buyer is responsible for seeing the plan through. You need to find the right media buyer, and it is the sign of any good media buyer that they are very well-versed in developing and establishing relationships with media vendors. You need to negotiate the buying of ad space. There are many factors to consider in this stage, some of which are traffic and the cost.
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