Formulas For Data-Driven Media Buying
The methods used to calculate Reach and Frequency are among one of the most unique and groundbreaking aspects of Media Link Software™. The current industry standard media buying formulas have been replaced by more complex and accurate formulas for each and every medium: cable, TV, radio, publications, and especially outdoor and online advertising.
Why? At Media Link Software™, we strive to improve media buying accuracy for advertising agencies and their clients. We take these media buying formulas seriously. So much so, we even consider this area an ongoing process of discovery. We are committed to make frequent updates to our software as we realize improvements. Please watch our blog for details about our progress.
We want you to have the best possible statistical media buying formulas behind every buy. Your clients deserve to get the most from their advertising budget. Seeing the real story behind every print and broadcast ad will help them achieve greater accuracy.
About Reach and Frequency Formulas
In college, you probably learned a basic math equation for calculating Reach and Frequency (R/F). While useful for single ads, this equation fails to deliver accurate information when you place multiple ads. It can result in over 100% Reach and a Frequency of less than 1, neither of which is possible. Through extensive research and exploration of better ways to calculate R/F, we spoke with many media experts and professors of media. What they told us was shocking: A more accurate method for calculating R/F does exist, but it is considered “too complex” for undergraduate advertising students! They explained that a graduate-level statistics algorithm had been created in order to include more variables to enable accurate calculations.
Instead of staying stuck in the 1970s, making hand calculations with substandard formulas, Media Link Software™ decided to advance media planning software into the 21st Century. We conducted detailed research behind the math and worked through the calculations; work we continue to refine. As a result, we have incorporated the intricate algorithm into our software and customized it for each medium, so your agency can bring clients more accurate information to improve their advertising buys and return on investment.
When it comes to online and outdoor advertising; Media Link Software™ has seized the opportunity to develop in-depth data about Reach and Frequency with just a few clicks. Not only does our system enable you to pinpoint better outdoor buys based on those formulas, but it also enables you to enter each specific billboard ID number, a task you only have to complete once. For online advertising, our software allows you to choose from different pricing models like Pay Per Click, CPM, Pay Per Action and several others.
While outdoor and online were the drivers behind this quest for a better formula, we have also customized the algorithms unique to print, TV, radio and cable. It’s all incorporated into an easy-to-use interface. You either use the demographics provided by Nielsen and Arbitron for your market or you enter the demographics and other data you need once. Then the software memorizes it and does the rest.
With Media Link Software™ as your planning tool, you’ll be able to slice and dice media like never before.
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