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MEDIA BUYING – EXPLAINED!

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If you have the brain and personality for negotiation, research, creative thinking, managing a budget, social media, targeting audiences, statistics and winning, then you might be a super Media Buyer in disguise!

Media Buying is an efficient and effective way for companies to reach high promotional targets at minimum cost. It involves managing a company assigned budget to purchase advertising space in a wide variety of mediums that targets the potential clients of your company effectively.

Obviously, the lower your expenses and the higher your conversion numbers, the more valuable you are to the company!

 

GETTING STARTED:

To get started in the industry, you will ideally either have a background in Media Buying, or in marketing, advertising, sales and / or managing a large budget. Being a “qualified” Media Buyer may not guarantee you are good at the job, but having the right skillset, personality and attitude will!

Even companies that are looking for entry level Media Buyers with some experience will respect a non-experienced candidate with a go-get-’em attitude who has demonstrated they have all the right skills.

A good way to demonstrate these skills is to research the latest products of the company where you are going for your interview, research their current target audience and try to think of untapped audiences they could be targeting. Make sure you are up to date on the latest industry trends and statistics. Then prepare a hard copy of your plans and ideas and come to the interview like a shining star ready to help their business reach new heights!

 

TO BE A GOOD MEDIA BUYER, YOU’LL NEED TO BE ABLE TO:

  • Identify and impact the most interested audiences for each media campaign
  • Research the latest industry information, figures, media resources and buying strategies
  • Build solid relationships with clients and media sales companies
  • Negotiate with media sales companies for the best rates and most effective advertising spaces
  • Run QA on your promotions to ensure your message is heard by your target audience
  • Manage your budget and update management regularly about the costs and effectiveness of your campaign both during and after the campaign has run.
  • Collect and analyze sales and consumer data

 

TO BE A FANTASTIC MEDIA BUYER, YOU’LL ALSO NEED TO:

  • Plan, plan, plan and optimize to ensure your campaign is aesthetically targeting the right audience effectively on every medium you use, i.e. Computers, tablets, YouTube, etc.
  • Treat the budget as if it were your own money so you get the biggest bang for your buck!
  • Once you have located the ideal media space for your target audience, don’t skimp on researching their competition – sometimes a similar media outlet might be less popular in general, but more popular with your target audience.
  • Think outside the box – sometimes a new approach or a recently published website might offer an inexpensive, yet effective way to reach new audiences.
  • Even more important than reaching higher numbers is making sure your campaign is delivering the right message for your target audience!

 

CONCLUSION:

Media Buying requires intelligence, consideration, forethought, planning and monitoring. It is a high pressure job that requires a quick mind and superior juggling techniques. This is why Media Buying is such a highly prized position in any company and not only attracts a high base salary, but usually also offers some seriously big bonuses!


August 4, 2016

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