Media Buying Part 2
Posted by jdblair | June 11, 2013
I have discussed in the past, the need for an experienced agency when buying media. There is much to consider when you buy TV for example. Do you what PUT is? How about HUT? Does it really matter? How can we better understand the market and how to buy our target demos if we are ill informed? I always feel that a client that wants to understand too much is potentially dangerous. It is an advertising agency's job to understand the market factors that attribute rates. And don't forget - an advertising agency that knows how to leverage all dollars spent in the market, will almost always get better rates than going at it alone. So what are some factors that can impact the market? Below is a list and an explanation after that will shed some light on to why this matters.
What effects the market?
1. Political years - these will cause almost every advertiser some headaches - it is an infusion of money into an industry that can "pre-empt" you right of your airplane seat (in a matter of speaking)
2. Annual buys - if you are looking to save money and actually have your ads run - consider laying in an annual buy. This reserves the space essentially, it does not mean you can switch things up, just secures a dollar amount...in this case it is helpful to show your cards - media outlets do want to see you succeed.
3. National & Regional Buys v. Local Buys - National dollars can "come down" in an instance, and can be large sums of money. When that happens, your radio and tv spots will more than have issues "clearing", or running to the lay person. It is hard to get around these monster buys, but again you can get some protection should have an annual on the books.
4. Supply & Demand by the market itself - if there are 10 banks in the market all jockeying for the best placement and willing to pay higher rates, then all banks will find their rates increasing, and it is the same for any category.
5. Ratings - high ratings = high rates. It's pretty simple here, don't get lured in to buying an NFL Sunday Night spot for $5k just because it has the allure of the NFL and has 100,000 viewers. You get 1 spot, that's it. You could get 6 spots in local news and get nearly the same audience with much greater frequency.
Leave all the "fancy" buys to the national companies, as always, don't fall for the sizzle being sold to you. At the end of the day you are buying a very specific thing, a person's attention. It matters how many people you reach (reach) and how many times they see your ad (frequency). it is not rocket science or magic, it's pure research and logic. The above items are only a small part of the grand equation of negotiating the best rates possible, that will actually run! There are some great companies here in Jacksonville that fully understand how to buy the market to suit your budget. If you want to hear our opinion on how we achieve our results..give us a ring or drop us a line.
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