How Does Media Buying Impact Digital Marketing?
The process of utilizing paid marketing efforts is known as media buying. Media buying is used to find and purchase advertisement space on platforms that have similar audiences or are relevant to your intended target audience. Some examples of digital channels that are used in Digital Marketing include social media, streaming networks, and websites. When successfully implemented, media purchasers can maximize their views to their intended audience for the lowest cost possible.
Media buying is strategic. When a strategy has been implemented, media buyers are intertwined with their counterparts across a multitude of virtual platforms. Many of these counterparts include account executives or advertisers that are relevant to the media buyer’s intended audience. Following negotiations of advertisement time, cost, and placement, media buyers can then implement the following strategies such as manual bidding, programmatic buys, and direct buys to carry out their plans. Manual bidding involves taking bids on space available for advertising. When focusing on programmatic buys, this involves using an algorithm to match consumer profiles to similar oriented platforms that are offering advertising space. An example of this would include if a restaurant platform wanted to gain ad space, this algorithm would automatically link them to other food oriented platforms or spaces. Lastly, direct buys are when a media buyer directly works with a specific advertiser to negotiate advertisement placement and times. An example of this would be if a restaurant platform was directly working with Food Network to place an advertisement on their website.
Media buying teams do much more than negotiation transactions of money in exchange for advertisement space. They create meaningful relationships with media owners which help create further exposure for their platform. With so many strategies to use in Digital Marketing, implementing ones that are effective as media buying will help contribute to an overall more successful Digital Marketing campaign.