Choosing the Best Media Outlet is a Mind-Boggling Task
Who needs more friends? A company looking to make cost-effective, informed media buying decisions does. Successfully running a business while marketing your products and services is nearly impossible. Wouldn’t it be nice if you had an ally with years of consumer-research experience to help you decide what will work and what won’t in your advertising approach? With a media buying agency, you do!
If your company is like most these days, it has to be extremely careful where it spends its advertising dollars. With ads popping up everywhere, deciding which media outlet to advertise in and negotiating the best price and placement is a full-time job. Taking time away from the daily operations of your business may not be an option. However, a media buying agency can easily navigate the advertising complexities and ever changing media options for your business. A media buying agency will create a cost-effective media plan for your business that can significantly increase the positive exposure for your company’s product or service.
A Good Plan Leads to a Good Buy
The value of a good media plan cannot be disputed. Media planning, which involves developing a strategic approach to reach consumers in the most efficient manner, brings focus to advertising. Once this is completed, buying of media segments is accomplished through negotiations that produce the most value for the money. In an ideal situation, the bargaining will yield the best rates, optimal placement and better value for a company’s advertising dollars.
Media buyers are like gear-shift operators. They fit big gears, like television spots and back covers of magazines/journals, together with smaller pieces, such as local newspaper ads, into a smooth, running advertising campaign that operates within the client’s budget. A quality media buying agency brings many skills to the table including:
- Negotiation expertise
- Media influence
- Research and organizational skills
Working hand-in-hand with clients, a buying agency acts as a partner who practically executes a company’s advertising strategy across all the relevant media channels with optimal reach, frequency and exposure.
Reaching More or Seeing More
Many terms are associated with media buying. The most common ones are reach and frequency. Frequency is defined as the number of times the audience views your advertising message within a specific time period. Reach is the size of the total audience for the viewing. So, is it better to have a huge audience a few times or be watched a million times by a small group? Although the answer to the question can stump many individuals, a media buying agency is well-equipped to handle this issue.
Reach without Frequency is just wasted money.
A recent article best summarized the dilemma by stating that reach without frequency is just wasted money.  Just like friendships, advertising needs to make repeated contact in order for a relationship to be grow and flourish. By knowing how to balance frequency with reach, a media purchasing firm can make the best use of advertising dollars.
The Skilled Art of Negotiation
Despite the written or verbal quote that is given, every media buy is negotiable. Just like in any other industry, sales are critical. Media sellers will try pressure tactics that vary from threats of selling out of space to lack of availability. However, most media outlets do not have such an impressive-enough customer base that prospective clients can be turned away.
Traditional economics principles of supply and demand can easily be applied to media buying. If there is a strong demand for a specific issue of a magazine or journal or a specific television program, negotiating a good deal may be tricky. This is where an experienced media buying agency plays a critical role. By creating and preserving good relationships with sales representatives, an agency can use interpersonal skills to the client’s advantage, even in a tough fiscal climate.
Media Buying Agencies Can Flex Their Media Muscles
The old saying: “It’s all about who you know” takes on a unique meaning in the world of advertising sales. A media buying firm that represents more clients brings media clout to the negotiation process. The agency can often generate sweet deals for one client by referencing both past and possible future transactions involving other clients.
A high-caliber media buying agency can use their media muscles to satisfy both parties.
A successful bargaining typically requires everyone to receive something positive. For the magazine, website, radio or television station, the prospect of a future advertising sale can be a winning acquisition. The client wants an advertising campaign that does not break the bank. A high-caliber media buying agency can use their media muscles to satisfy both parties.
Agents of Knowledge
The other reason to turn to a media buying agency is because of its knowledge about buying strategies and trends. Technology is causing rapid changes in the advertising world. According to an article in Business Insider, “advertisers no longer have to rely on media as proxies for consumers, because they have more tools and data to target precisely the people they want to reach”. 
An agency has the staff to keep abreast of recent developments, in order to best advise clients. By keeping up to date with industry research statistics, a firm can have the flexibility to book the advertising spots and adjust the media schedule that best utilizes the advertising budget.
An agency is also knowledgeable about budget management. Overspending can devastate a project and jeopardize future endeavors. Generating balance sheets and calculating reach and frequency statistics are just part of the buyer’s mathematical skill set. Monitoring spending, analyzing the effectiveness and making adjustments if necessary can ensure that a campaign generates the best possible value for a client.
Let’s Be Friends
Everybody needs friends, especially in today’s ultra competitive business marketplace. One of the most common mistakes that small to mid-size businesses make, is the improper or lop-sided allocation of their marketing resources.
A top-notch NJ media buying agency, such as Mary Pomerantz Advertising (MPA), will enable you to make informed decisions about where to spend your advertising dollars, and avoid creating campaigns that only reach a fraction of your targeted consumer base.
Whether you’re looking to shift some money from radio to television ads or want to tackle billboard marketing for the first time, MPA will prevent you from putting all of your eggs in one basket, and help you craft diverse and multifaceted marketing materials that will keep your business competitive. Contact us today at 732-214-9600 to get started.