A media buying and advertising plan will help you determine cost, who you want to target, radio and television stations to utilize, and other options available to you. It also will help you get organized, focused and avoid feeling overwhelmed by all of the information and proposals you’ll get.
Step 1: Create A Budget
Does the outcome justify the expense? Having a realistic budget that is comfortable to you is the first step in creating an effective media buying plan. After all, you can’t spend money wisely unless you know how much you have to spend. And it’s really easy to overspend on advertising.
If you spend so much on your advertising campaign that you can’t make up the cost with any amount of sales generated, then you’ve wasted time and money. You need to first create a working budget to determine a return on your investment (ROI) goal, a fundamental measurement of your success.
Go to the Budget Worksheet for a step-by-step process for creating your budget. This is an essential step in media buying.
Step 2: Identify Your Target Customer
What segment of your customers are you trying to reach with your advertising campaign? Is it moms with toddlers? Home owners? Baby Boomers with lots of disposable income? Do you want to reach more of the same type of people who already buy your product or service, or do you want to bring other types of people through your doors?
You know your customers best, so develop a profile of who you want to reach and use it as your guideline when deciding which stations to purchase for your commercial. Go to our Target Customer Worksheet to develop a profile on your target customer.
Step 3: Get Proposals
You need to compare apples to apples in order to determine which stations and programs to buy. This can be somewhat confusing if you’ve never purchased broadcast media before. With our worksheets, you’ll have an effective way to compare each aspect of the proposals you receive from each station, including cost per point, reach, frequency and cost.
By effectively evaluating your options, you’ll develop an advertising strategy that will work for you, helping you meet your goals. You can implement a campaign like a professional media planner with our TV Proposal Evaluation Worksheet, Radio Proposal Evaluation Worksheet and Media Planner Worksheet.
Step 5: Negotiate
Do you know when to ask your AEs for cheaper rates or additional elements, such as added-value promotions? Remember, almost everything in broadcast media buying is negotiable. You want to create a win-win environment while getting what you need to get the job done. We’ll show you how to ask for more. Go to Negotiating Tips for guidelines on how to get the best proposal possible from each station.
Once you’ve completed all of these steps, you’ll have a working media plan and will be prepared to make an accurate decision on which stations to buy, how many spots to buy, for how long and the results you should expect. Our Media Buying Planner will help you stay organized and lay out a long-term solution for promoting your business.