Diversity of Media Buying
Since Media Link Software® entered the market in 2011, we have encountered a wide variety of different ways people plan their media buys. So, in this blog, we would like to outline some of the basics about the different media buying philosophies.
Programmatic Media Buying
Programmatic advertising uses an element of automation to decide where to share advertising and make purchases in real time based upon pre-established targeting metrics. It is most commonly used in the digital space.
Direct Response
Direct Response strategies are all about getting a conversion on the spot. Future buys are then evaluated based on the direct return on investment (ROI) measured during the previous run.
Political Buying
Political media buyers legally do not have capacity to negotiate on rates. They also have a much higher tolerance for the diminishing returns curve when it comes to frequency than other types of media buyers. Both of these dramatically factors, change how they go about their business tactically. Also because of the nature of campaign funding, there can be many overlapping orders within the same market. Last, the sudden shut down of a political campaign after the election (win or lose) means many media buyers are not given the opportunity to fully analyze the connection between their purchases and what happened on election day.
Automobile Media Buying
Buyers assisting automobile dealerships and brands are highly focused on maximizing awareness. These people frequently place a large number of very short buys on very short notice in response to conditions on the sales floor. This dynamic also means automotive buyers operate off ordinary calendar months rather than broadcast months and strongly concentrate advertising in the back half of a week in accordance with traffic at their dealership.
Reach/Frequency
Reach/Frequency buyers are looking to find the best balance of reach/frequency for their particular scenario. Buyers focused on these metrics regularly negotiate very hard in order to achieve the best possible Cost-Per-Point for available programs, so they can assemble schedules achieving a higher frequency without sacrificing reach and vice versa. It is also not uncommon to see particular standards for how much of a particular order should be placed within specific dayparts. These types of buys also tend to be longer in duration. These campaigns can last a few months or even a year (annual).
