What is Media Planning?
Media Planning is the systematic process of deciding on a course of action for advertising time, media, and space in order to meet marketing objectives. In order to increase customer engagement and return on investment, the marketer determines when, which, where, and how frequently an advertisement will be broadcast.
To achieve the marketing objectives, media planning entails strategizing, purchasing, and placing ads by selecting the appropriate media. It responds to issues like:
- What is the estimated number of people who will be reached via various media?
- What is the most effective medium for advertising?
- How often will ads be shown?
- What types of media will be broadcast across multiple channels?
- What will the location of the advertisements be?
- When is the best time to put ads on the internet?
- What is the budget for various media?
An ideal media strategy is one that employs a multi-channel approach to reach various customer groups while staying within the marketer’s budget constraints. To develop a successful media plan, a media planner must consider all of these factors.
What is the definition of a media strategy?
A media plan is a collection of activities aimed at identifying and selecting the best criteria for delivering an ad message to a specific customer group while staying within the client’s budget and other constraints.
What is Media Planner and what does it do?
A Media Planner is a person hired by advertising agencies to evaluate various media avenues and create ad campaigns to promote a client’s product, service, or brand.
The nature of the company’s offering, the type of audience to be targeted, and the overall budget of the promotional campaign are all determined by the media planner. Various media vehicles are chosen based on this data in order to get the best possible response from customers.
What is the definition of a media vehicle?
In various forms of media, the media vehicle is the ultimate carrier of the message. Radio Mirchi and Vivid Bharti, TV Starplus and Sony TV, and newspapers Hindustan Times, The Economic Times, and the Hindu, are examples of media vehicles.
What is Media Mix and how does it work?
The term “media mix” refers to how different media are combined in an advertisement.
What exactly is the definition of Reach?
The term “reach” refers to the precise number of people who have been exposed to an advertisement at least once during a given time frame.
What is Frequency?
The number of times an advertisement appears on a media vehicle is determined by frequency.
Media Planning Process
The following are the steps that make up the media planning process:
1. Market Research
Market analysis is primarily used to determine the target audience’s age, type, gender, income, education, and occupation. The analysis will aid in estimating the cost and deciding on the best medium for the advertisement.
2. Establishing Media Objectives
Before establishing media objectives, the marketer must first define the goal in terms of frequency, message circulation, customer reach, budget, and penetration.
3. Development of a Media Strategy
It is the planning stage, and the media planner must decide on the best media combination to reach the target audience, whether it is the internet, television, radio, newspapers, magazines, billboards, and so on. The reach, frequency, customer engagement, and cost must all be considered when making the decision.
4. Media Plan Implementation
When the media plan is complete, the media buying process begins, in which the specific slot in the chosen media vehicle is purchased.
5. Assessment and Follow-up
Following the execution of the plan, the next step is to assess the overall response of the target audience. It necessitates follow-up and outcome evaluation. The media planner must determine whether the media plan is effective and produces the desired results.
Choosing the best media combination is important not only for reaching the intended target customer group, but also for getting the most out of your promotional budget.
Media Planning Challenges
Because there are so many variables to consider, media planning can be difficult, and many people believe that media planning strategies and processes have not evolved in conjunction with marketing.
Among the challenges are, but are not limited to:
Targeting at the Consumer Level
In order to determine what types of messages resonate with consumers, the media plan must understand them at a granular level, which necessitates in-depth marketing analytics.
Preference for Platform
Brands must also understand which channels and platforms their target audience members use and when they do so. This will allow them to choose the best media for their campaigns. All of this must be done while keeping an eye on the budget and media spend.
The focus of media planning continues to be on cost rather than customer engagement. A budget and plan have limited flexibility to allow marketers to course correct as campaigns run and new insights are discovered. Modern media planning necessitates the ability to allocate budget to different channels based on their effectiveness.
Bringing Measurements Together
Because there are so many online and offline channels, measuring the success of these campaigns side by side to determine which are the most effective and which should be updated has become infinitely more difficult for marketers.
Today’s media planning must adapt to focus on the consumer experience, with flexible budgets and real-time, unified measurements that enable in-campaign media plan optimizations.