Building a strong online presence in today’s age is the key to any business success. Sharing and advertising content on online platforms is the best way to increase brand awareness, attract potential customers and thereby increase revenue.
However, attracting customers through the media requires detailed planning. Learning media planning can be very lucrative in today’s digital age!
This blog tells you everything you need to know about media planning. Let’s start by understanding what media planning is.
What is media planning?
Media planning refers to selecting the right media to market your business to the target audience at the right time and place. Simply put, it is a strategy designed to achieve media goals and produce optimal results.
Media planning aims to find a combination of media channels that help the marketer to advertise to a large audience at the lowest possible cost. Hence, it controls unnecessary advertising, ensuring optimal use of resources.
What does media planning include?
Media planning includes a brief media plan. It helps the advertising to understand the budget, the objective of the advertising campaign, the market scenarios along the appropriate media channels.
Now let’s look at the 5W of media planning
- Whigh : What is / are the most appropriate media channel (s) for the advertising campaign in order to be able to communicate effectively with the target audience
- Wchicken: When will the advertising campaign be launched? The date, time, month are answered in this question.
- What: What type of message should be communicated to the target audience through the advertising campaign? Is it an informative announcement, a demonstration etc?
- WHome : Who is the target audience for the advertising campaign? How many people will be targeted? Age and gender are points to consider when answering this question.
- Where: Where is the target audience located? Identifying the geographic location of your audience is important when creating a media plan.
Media planning vs media buying
Media planning and media buying are both closely linked. Media buying begins where media planning ends.
The fundamental difference between the two terms is that media planning is the development stage of the advertising campaign and media buying is the execution of the advertising campaign.
While media planning is the strategy of creating and publishing content on media platforms, media buying is the process of buying advertising space on different media channels to target your audience by negotiating with media providers. .
Therefore, Media Buying is a continuation of Media Planning. Buying ad space and negotiating with distributors requires a strategy to reach your target audience.
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Read on to find out how you can develop your media plan.
How to write a media plan?
1. Identify your goals
Identifying and setting goals is the first step in implementing any business strategy. Building brand awareness, generating new leads, increasing conversion rates, retargeting are some of the likely goals that a media planner can have.
Using SMART Goal Criteria is the easiest way to develop any strategy you want to implement. The acronym stands for Specific, Measurable, Achievable, Relevant and Time-Bound.
Refer to the 5 questions you can ask yourself when developing your strategy.
Specific: What needs to be accomplished? How can it be accomplished?
Measurable: Is the goal quantifiable?
Feasible: Is the goal achievable and achievable by the team?
Relevant: How is the goal beneficial for the organization?
Limited in time: Set a realistic deadline for your plan.
2. Conduct market research and determine the target audience
Once you are clear on what you want to achieve through your goals, conduct market research. Conducting market research will help you create content and formulate a plan based on your target audience.
Building personas is an effective way to determine your target audience. A Buyer Persona is a detailed description of the people representing your target market. It is created by interviewing a predetermined target group.
While determining your target audience, you can consider the following points.
- Determine the type of campaign – Business to Customer (B2C) or Business to Business (B2B).
- Demographics – Age, gender. Location, occupation, training
- Will they use your product?
- Which media does your target turn to for information?
- How does your product help the target?
Determining the target audiences will help you choose the appropriate media platforms on which to run your ads and share the content.
3. Implement your media plan
Determining the target audience will easily help you determine the perfect media mix for your ad campaign.
Once you have chosen the combination of media platforms, you can choose your media planning models. There is a wide range of free downloadable templates for you. These templates will help you work efficiently and effectively on your media content. Hubspot, Sprout Social, and Google Sheets are simple templates you can use.
Templates provide clarity and allow you to coordinate your content across your media platforms, improve productivity, and achieve your goals faster.
4. Measure your performance
After launching the advertising campaign, measure the performance of your plan. Identify the flaws and act on them.
Understand which media platform generates the most engagement and revenue. You can optimize your budget for your existing and future campaigns and track your progress by understanding the following points.
- Which platform generates the highest income?
- Which platform generates the lowest income?
- How to increase your engagement on the non-performing platform?
Learn Google Analytics and Google Search Console are essential skills for marketers or planners!
Media planning is integral to the success of any business. It is essential for reaching audiences by creating the right content and working with media providers to launch ad campaigns at the right time.
To strategically build a media plan, don’t forget to use a suitable media planning template. Follow the steps above and start planning today! And a bonus would be train in digital marketing professionally to further increase the return on investment of your business.
We hope you enjoyed reading the blog! If you have any questions, feel free to drop them in the comments section below.