Media Buying is a fast-changing world and companies that don’t adapt compromise their business. This means keeping abreast of working with new media channels, developing strategies for digital media, and implementing processes for monitoring and managing the effectiveness of their media buys. This article will serve as your guide to media buying. Read on to learn how it can benefit your company, tools you should begin using today, and techniques that will help you avoid making the same mistakes tomorrow.
Define Your Media Needs
Before you begin buying any media, it’s important to understand what you want out of the media. All news coverage is different, and each need is unique. Before you acquire any new media, evaluate your current coverage to see what you’d like to see. Define your top 3 issues to begin your research. Once you’ve explored your top issues, it’s time to examine your competitors’ news coverage to get a gauge on how you want to cover the same topics. You want to partner with a news channel that covers your top issues, as well as your competitors’ issues. If your company is a startup, you might want to partner with a news channel that is new to the market. If you’ve been in the game for a while, you might want to partner with a news channel that has a track record of covering your industry well.
Build Your Buy List
Once you have a sense for what you want to buy, it’s time to build your buy list. This list will help you identify the top stories worth pursuing. Start by creating a “wall of shame” in Google, Bing, or Yahoo—the derogatory term for a Google or Bing search result. Include the most searched-for topics, keywords, and brands. After you’ve built your wall of shame, add each story to your “to-buy” list. Next, use Google’s “up- and down-navigation” to target your “most” and “least”-sought stories. After you’ve identified the top stories on the web, create a “to-buy” list for each one. This way, you’ll know exactly what you need to buy, and you can put your money where your mouth is.
Develop Alerts and Processes
Your media buying strategy is only as good as the tools you use to track and report on the effectiveness of your buy campaigns. These reports are the bedrock of any good strategy. Use Google Analytics to track the distribution of your stories and the number of views they yield. Google’s “audience growth” reports will let you know how often your stories are being shared, and which channels are leading the way. Use Google’s “ad rank” to track the impact of your stories on advertising revenue. Google’s “revenue” reports will let you know how much your stories are bringing in, and which channels are leading the way.
Monitor and Report On The Effectiveness Of Your Media Stunts
Once you’ve used the above tools to help you measure and report on the success of your regional and national media buys, it’s time to employ your strategies to turn your attention to your local media campaigns. After you’ve set your local media campaigns in motion, use Google Analytics to track the distribution of your ads, the number of views, and the revenue generated from each ad. Use your “local ad rank” reports to help you understand which stories are leading the charge and which ones aren’t.
The best strategy is to partner with a news channel that covers your top issues, your competitors’ issues, and your industry’s issues. This will help you get the coverage you deserve for your company and improve your standing in the community. Whether you’re a startup or a well-established company, media buying can be a challenging and time-consuming process. The Complete Guide to Media Buying is a great resource for companies new to the game or those who want a more in-depth look at how buying ad space works. With so much changeable information, it can be hard to know where to start. The Complete Guide to Media Buying will make the process smoother by sharing important information and tools you need to succeed.