Strategic Media Planning and Buying: Techniques, Trends, and Success Stories (Full Transcript)

Speaker 1: Media planning and buying are strategic techniques that businesses utilize to increase brand awareness and get more customers. Both are typically outsourced to agencies, though some companies choose to do it in-house. Media planning is the process of outlining the most suitable media to promote a product or service. Media options may include paid search ads, newspaper ads, primetime TV slots, outdoor placement, as well as online and social media ads. Media planners are in charge of developing a plan for when, where, and how often a message should be advertised. Their goal is to reach the right audience at the right time and in the right place to achieve desired results. Media buying is the process of purchasing a share of media from a media owner. Media owners include TV channels, newspapers, outdoor sites, websites, or social media platforms. Media buyers take media plans into account when purchasing actual ad time and ad space, guaranteeing the best rates from media owners. The main goal of this process is to reach the highest number of prospects at the lowest cost possible. Global media planning and buying market is huge and contributes to 65% of the total advertising market size. The industry was valued at $355 billion in 2016 and is expected to grow at a compound annual growth of 4.7% over the next five years. The industry's success can be attributed to the relentless growth of digital media platforms and spends and adoption of revolutionary technologies, such as programmatic buying. Netflix hired MediaHub to help grow viewership of the new season of Black Mirror. Their target audience is technologically savvy, hate advertising, and use ad blockers. MediaHub knew that traditional media buying would not work, since ad blockers would block the campaign. Instead, MediaHub worked with tech-focused websites where the audience spends much of their time, like The Next Web and Mashable. They had the publishers hard-code advertising into the website to avoid ad blockers. They then tailored the message to say, we know you have ad blockers, but this ad is watching you. This workaround echoed the creepy nature of technology, which is the focus of Black Mirror. The target audience loved it and the results were amazing. The show got record-breaking viewership that year. Media buying doesn't have to be boring. Work hard to grow this skill and innovate so you can make a name for yourself.