Denver, Colorado – Media buying agencies are the stewards of the media landscape, helping businesses all over the globe select placements across numerous channels and time zones in order to successfully get in front of the eyes of their target audience. A lot of factors play into this decision making process and alignment of these aspects is crucial in order to pull off a successful campaign, therefore working with a media buying agency can significantly help to lighten the burden or research, analysis and negotiation. If you are considering working with a media buying agency, here are five terms that you need to know:
Profitability and return on investment should definitely factor into which media placements you buy as you want to make sure that for the price you’re paying, you are receiving a commensurate probability of successfully reaching your target audience. Your media buying agency may be able to cut down costs by purchasing placements as an upfront – these typically come at lower rates because you are purchasing earlier in the buying season.
This is the four week period of time during which Arbitron and Nielsen measure the viewership and demographics across the various networks and channels. Obviously these numbers can ebb and flow over time, but these numbers can be great indicators of who is watching what.
This is a highly tactical approach in which your media buying agency runs your ads simultaneously across all major networks or stations in a particular market. This increases the reach of your message and allows your brand to have control over a specific block of time that you think may best reach your target audience. Because your ads will be running over multiple networks simultaneously, you will want to work extensively with your agency to ensure you are picking an optimal block of time
This refers to the blocks of time that are still unsold and are available for networks and broadcasters to sell to businesses looking to advertise. These slots can change pretty rapidly so it is best to find out what is available and make a decision as soon as possible in order to get your prime choices. Because you are likely dealing with other functional duties of the business as well, this is where a media buying agency can take over to handle the research and negotiations
Broadcasters will sometimes throw in a bonus spot to sweeten a deal and convince an advertiser to place their ads on their network. This can be on either radio or television and is often awarded at no additional charge. Having that additional ad placement can help increase reach and hopefully get your message in front of the eyes of more consumers in your target audience.Of course there are numerous other terms used in the media buying industry, but you will have your agency to help you travel those waters and make sense of what will make the best fit for your business. If you would like to know more, contact us today and we’ll be happy to talk media planning and buying with you.