We get it. Marketing and Media budgets are tight. And with that, there is enormous pressure to spend every dollar as wisely as possible. Finding the “perfect” recipe for ad spend is no easy task, but you can feel confident in making the most of the budget you have to work with if you consider these media planning and buying tips:
1) When it comes to media planning and buying, a clearly defined target demo is indispensable. By basing your media buys solely on hard numbers, trending research and proven strategies, you eliminate some of the risk of your media dollars being wasted. Use statistics and figures your media planning and buying agency provides to your advantage when making final decisions.
2) If you’re in money saving mode, it may not be the time to get experimental. Advertising based on data may mean spending more in certain reliable areas rather than taking a chance on a bargain. It also means cutting out any “tests,” which will save media monies that may not get you an ROI over where they are currently allocated. (Note: This is not to say we don’t believe in experimentation. We are simply saying that there is a time and place for it.)
3) Buy media that consistently delivers directly to your consumer base, and try not to be wooed by the promise of extra exposure or value add that sometimes can target a completely different audience. If you spend money based on the possibility of value-add, you might be disappointed when certain opportunities offer only limited benefits and less than ideal results.
4) Don’t let your budget burn a hole in your pocket. Make room for possible remnant and other last-minute discount opportunities that may arise. As a media planning and buying agency, we know better than anyone how frequently brands are cancelling their schedules and pulling out within the eleventh hour. These changes mean that radio and television stations and even print magazines many times offer incredible last minute deals that may coincidentally be a fit for your audience.
5) There’s no time like to present to incorporate digital advertising. Online CPC campaigns inherently present less risk because you can pay for targeted clicks rather than for the number of impressions served. A clear demo added with a little background research will help you define which sites and networks present the best fit for your brand.
6) You know the old saying….”If it ain’t broke, don’t fix it?” This is especially true when it comes to creative and/or media messaging that resonates with your audience. Not only will you spend unnecessary production money to have additional items produced, but you also run the risk that your new creative not being as successful.
The most important thing to remember? Don’t let your budget control you. Instead, be in control of your budget by being armed with the knowledge and resources necessary to navigate where you brand intersects its target audience through media. Ultimately, that knowledge will get you the most bang for your media buck.