Today’s marketers are often tasked with balancing campaign efforts across a range of different media platforms and assets. This can make it challenging to effectively track each tactic’s success and overall impact on the business’s bottom line. With a thorough media planning strategy in place, teams can more accurately and holistically monitor campaign success and make informed decisions about how to optimize performance in the future. Let’s take a look at some of the key considerations to keep in mind when building a media plan:

What is Media Planning?

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.

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In today’s competitivemarketing landscape, marketers need to serve consumers with the right message, at the right time, on the right channel in order to see engagements. Media planning is where marketers determine what these “rights” are.

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Selecting the Right Media Channels

There are a variety of online and offline channels for marketers to choose from, and they must use the information they gathered in the research and goal-setting phases to determine which channels will bring them the most success.

Here are some of the most popular channels that marketers choose when media planning, along with their attributes.

Offline Media

Online Media

Digital Publications: Many digital publications have opportunities for you to email their database through a personalized email or newsletter. They can track open rates and understand conversion rates to your site or asset. These are often specialized publications, making it easy to reach your target audience, and are great tools for lead generation campaigns.PPC: Advertisers can capitalize on search intent. Advertisers can retarget people who have visited their site. PPC is an extremely cost-effective medium.Social Media: Like PPC, social media is an extremely cost-effective medium. It is also extremely targeted, allowing marketers to target by interests, age, marriage status, etc. Social platforms are constructed on a basis of community, which allows your brand to connect more personally with consumers. It also gives your brand the chance for content to go viral.Programmatic Advertising: Programmatic advertising is extremely targeted, using an algorithm to find and target specific audiences across digital platforms. When looking into this, there are two methods to consider:Programmatic Bidding- uses demand side platforms to buy ads on the digital market based on target audience.Real-Time Bidding- allows advertisers to bid on impressions to their target audience. If their bid wins, the ad is displayed right away.

Tips for Building a Media Planning Strategy

As marketers begin to strategize on new media plans, they should keep these ideas in mind:

Reach: Select outlets and times that will best reach your target audience. For example, buying ad space during a live televised event (such as a sports game) ensures that viewers will be watching the program live and not fast forward through the commercials.Establish clear goals: Is this a branding campaign, or are you looking to generate leads? How many people are you looking to reach?Engagement: How do you encourage people to talk about your brand? Make sure creative has clear direction on what would resonate with this target audience based on demographics and viewership. Additionally, make sure you have a way to test the effectiveness of creative.

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Final Thoughts

With a comprehensive media planning strategy, organizations can make more data-driven decisions about how to improve marketing ROI and drive results. Today, many teams are leveraging tools that allow them to make smarter, faster, and more accurate media planning choices. With Marketing Evolution’s Scenario Planner, organizations can strategically build out their annual media strategy and plan, and even run “what if” scenarios that allow them to modify key campaign factors without impacting active initiatives. This enables teams to truly optimize their media mix while simultaneously cutting down on ad waste.