What is Digital Media Planning?
Digital media planning entails the development and execution of online ad campaigns and involves channels such as social, search, display and mobile. Media planning is the process by which marketers determine where, when, and how often they will run an advertisement in order to maximize engagements and ROI. The media plan might split advertising spend and resources between various online and offline channels such as broadcast, print, paid ads, video ads or native content.
What is a media plan?
An effective media plan will result in a set of advertising opportunities that target a specific audience and fit in with the organization’s marketing budget. When establishing a media plan, marketers will often factor in the following considerations:
- Who does the ad need to reach?
- What is the marketing budget?
- Conversion goals
- Frequency of the message
- Reach of the message
- How to define success
What is the media planning process?
The media planning process is a 7 step process as outlined below:
Defining your audience:
The first step of media planning is defining your target audience. Your target audience is the people to whom you want to sell your product. Your advertising campaign will be ineffective if you don’t have a bright idea of the audience that you want to reach.
Therefore, it is crucial to define the age, gender, income, and preference of the media platform of choice for your audience.
Having a clear understanding of your target audience will get you maximum return on investment. For example, if you are targeting pre-teens or teenagers, then the right choice of media platform is social media like TikTok, Instagram, and YouTube.
Because teenagers spend a considerable amount of their time on social media, they are more likely to see an advertisement on these platforms rather than other platforms like news websites.
Defining your budget:
Once you know the audience that you want to target, the next thing that you must decide is your advertising budget. It is necessary to have a fixed budget; otherwise, you might end up spending too much.
Having a fixed budget will be helpful for you in eliminating media platforms with the least reachability to your target audience, and your whole budget will be targeted to the right audience through the right choice of media. For example, a 10-second ad on television is much more expensive than a 10-second ad on social media.
Therefore, if you are targeting youth, then you would not consider spending your money on advertising on television. Moreover, you can always extend your budget a little bit if you are confident about your media campaign.
Defining your goals:
It is imperative that you define your goal before you invest in your media plan. Setting your goal means what are you expecting to achieve from your media campaign. Whether you want to create brand awareness or you are assuming a 5% conversion rate from the media exposure to actual sales.
A well-defined goal might help the media planner to create your media mix as per your plan. Moreover, you can compare the performance of your media campaign with your pre-decided goal and thus can determine whether your campaign was successful or not.
Doing the required research:
Don’t invest in advertising on any media platform without doing proper research. Sometimes, it is effortless to select a platform where you can find your target audience.
Thorough research of the market will help you define your target audience correctly and also select the right media platform for the promotion of your business.
Using smart tools for media planning and taking experts’ help:
When you have defined your audience and budget of advertising, the next step is to select the method to create your media plan. For example, whether you want to hire an advertising agency or you want to create your advertising campaign on your own with the help of some media planning tools. You can find various media planning tools online to create your campaign, but we recommend handing this off to the experts.
Otherwise, if your budget allows, the best option would be to go to the experts, like the ones we have here at Back40. Our experts have worked with different companies and have designed advertising campaigns for a lot of different companies!
We would love to help you create an effective media plan that will get you the desired ROI.
Creating the right media mix:
The last step is to evaluate your plan. You can learn whether your plan was successful or not and can learn lessons for future media campaigns only by assessing the performance of your current media campaigns.
Importance of Media Planning
Media planning helps:
- Achieve advertising objectives
- Allocating advertising budget
- Selection of optimum media mix
- Optimum utilization of scarce resources
- Selection of appropriate media
- Ensures appropriate timing of advertising
Media planning is essential to the success of your campaign, delivering the most relevant ads to the right people on their favorite devices. Instead of taking on the stress of doing it yourself, let our experts at Back40 help!