In purchasing paid media, it allows for companies to be put in front of new customers, thus, increasing productivity and revenue. “More than two billion people use social media every day. The average person spends 135 minutes per day on social networks.” In fact, if your brand isn’t advertising on media channels then you might be at risk of falling behind your competitors. In today’s world, it is much easier to even access the public via social media platforms and learning how to do so can be labeled as “dummy-proof”. Reaching your target audience has never been easier than it is now with paid media.
Media buying has the general definition of obtaining media space and time for showing ad creatives. It is important to find the perfect settings for the advertisement to be most successful to its target audience. Destination, time, and context are contributing factors that play a role in increasing conversion rates, sales, and brand awareness. A way to think of paid media buying can be thought of as renting all possible placements on social media platforms.
David Ogilvy once said, “Advertising people who ignore research are as dangerous as generals who ignore decodes of enemy signals.” With this in mind, any sort of advertising decision should not be made hastily but rather with precise preparation through in-depth research. Before beginning any type of advertisement campaign, you need to assess that your advertising strategy is at its peak level of performance. Learn your target audience, know your competitors, design a media strategy, know and understand all media outlet options, and finally begin to plan your campaign. Once you’ve checked all these steps off, your company can begin its campaign launch process.
Paid media buying can be an essential component in a company’s revenue growth and brand awareness. Using paid placement, branded content, and display ads are all relevant and important marketing efforts that your company should use to its advantage. Media buying is truly one of the quickest ways to drive traffic into your business and even gives way to opening doors that would have just stayed shut. Incorporating paid media into your marketing mix is a way that can benefit your company as a whole. Not only does paid media complement your owned and earned media, but it gives way to your company to be flexible in an online presence.