Looking for a Media Buyer? Here’s What You Need To Consider
People who have run successful media campaigns and have created them from scratch will agree that it is similar to raising a child. It can quickly get overwhelming, with many processes overlapping each other, not to mention the sleepless nights!
The ultimate purpose of undertaking this level of stress is the hope that the campaign does good, and it will blossom into something that can potentially have a long-lasting impact. Unfortunately, hope isn’t enough. A critical ingredient in the tough-to-nail recipe for success is – strategy.
In a world where media options are continually evolving and dynamic, it is nearly impossible to gain a competitive edge and achieve business growth purely based on hope. If you want your brand to be catapulted to national popularity, it will require a carefully executed strategy and proper planning.
All this can be difficult for a novice entrepreneur to master, which is where a professional media buyer comes in handy. They have the right combination of experience, publisher connections, and knowledge that can substantially increase your bottom line and propel the marketing efforts.
Here are all the pointers you need to pick the right media buyer:
Entering blind in any sphere of business rarely ever pays off. Before implementing any deals, a worthy media buyer will conduct a full background analysis of your business and practices to assess the track record of any previous marketing crusades.
They will also want to understand the environment that business functions in, its objectives, and the current climate of the respective industry.
Awareness of Finances
Money is the deciding factor for many businesses’ undertakings, and while designing a campaign, it is vital that the activities do not topple over the designated budget.
Since the media buyer will inexplicably be in charge of the finances, they will decide where to splurge and pull back, so they must possess knowledge of basic concepts. Can they successfully assess the value of a lifetime customer? Do they have a functional understanding of profit margins, sales cycles, and seasonality of purchases? Can they calculate the break-even points of different running programs?
Without comprehending the concepts mentioned above, it will be difficult for the professional to allocate resources and plan. The calculation of return on investment (ROI) can also get muddled.
Mix and Match
Sometimes, media buyers’ sole focus is to get the client a bunch of good deals and call it a day, whereas running a well-rounded campaign is far from it. A professional worth their salt knows that the money saved on an ad will not matter if it doesn’t reach the right audiences at the right time.
A wrong mix of the combination can end up costing you more in the long run, but the ideal mix will target your prospective customers at the time when they are paying the most attention.
While selecting a media buyer, inquire about what tools they deploy and how they construct the right media mix. It will also help in making a conclusive decision when they have specific examples of running mixed programs for past clients.
Where so many moving parts are involved, a one-size-fits-all approach just doesn’t work. Professional media buyers are bent on getting quantifiable and deliverable results.
But there’s a catch! There are so many media options available nowadays it usually takes a lot of testing to nail the customization process. The best media buyer should be adaptive and down to try various options to gain useful insights that will be vital to the campaign’s success.
During discussions with various professionals, they will claim multiple times that the best prices will be negotiated. But, that’s the whole point and one of the basic requirements! Without it, they are good for nothing.
The best media buyers will know the right spot for your ad, how to bag it for the best prices, and how to creatively get the message across to interact with the audiences engagingly at the correct time.
All the successful media buyers share the mentioned traits, and when you are in the market for a new one, it will bode well to keep these in mind!