How to optimize your media plan
A good media plan must meet the advertiser’s communication objectives the best possible way, addressing the largest audience within the available budget, while also taking into account the context and opportunities and complying with classic media constraints.
Hence the 5 steps to follow when building your media plan:
1) Why do you want to advertise?Media advertising can support several objectives:
-Traffic in point of sales / showroom / flagships
What are yours?
These objectives will help determine which visuals to use, which language/tone to adopt and, of course, which period to target, based on your own timing/events and on common commercial events as well.
2) Target the right audience / From marketing target to media target
How can you target your potential customers ?
Consumption Target: _Group of people who buy and use the product/service
Marketing Target: _Communication target and/or group of people we want to turn into buyers or among whom we want to raise awareness of the service/company.
Communication Target: Group of « useful » people , targeted by the ad for the product/service/conveyed values
Media Target The biggest number of « useful » people you can determine
The better you know your potential clients, the better you can choose the right media to target them.
Gather information on your target: habits, consumption modes and media exposure.
3) Which media for which budget ?
If your media budget is quite tight, « digital only » is a good option.
This will allow you to reach your target with precision. From display to programmatic, through social networks, the options are endless.We will write an article about it very soon.
Another phenomena is spreading: many « pure players » or « born digital » such as Airbnb, Hello Bank, Take it Easy, Foodora or Deliveroo are massively using traditional media to increase their brand image & awareness and to gain credibility thanks to a statutory media such as press or an impactful media such as outdoor.
4) Wisely choose your communication period based on your budget
- Your media budget is large:
Continuely invest all year long in the most strategic media for your brand while also massively covering different media over your key periods.
- Your budget is tight:
Choose a few media and repeatedly promote on key 2016 dates for your brand.
- Your budget is really tight:
Choose the most important date/period of the year for your company/brand (better if during the first semester) and the most accurate media to serve your objective. Invest all of your small budget in it. If you are happy with the campaign feedbacks, then you still have the second semester to repeat the operation or even increase the media plan with a longer period of advertising or a new media.
5) How to estimate the budget for your media plan
Simple and efficient, a media simulation allows you to quickly check if your budget matches your communications ambitions.
Traditional media buying:
Ask the advertising team or check the rate cards on the internet and apply the following discounts:
Press & TV:
On those media, you can enjoy in most of the cases 45% to 85% discount on rate cards. This will depend on your history with the media, your investement and your negotiation skills.
Out Of Home (OOH):
Discount rates range from 5% to 60%, sometimes even more. Last minutes opportunities are still the best way to get the best rates on that media. That being said, this buying method is not so much adequate with building a media plan especially if no opportunity comes up at the expected time of advertising. However, in addition to an existing media plan, it’s a great means of advertising.
Digital media buying
Classic display: Banners, Skin page, big formats…Expect 60 to 90% off on communicated CPM – that’s if you can get them, since fewer and fewer media communicate them.
RTB programmatic: the more specifically you define your target, the more expensive it twill be. The main exercise here is to add enough criteria to qualify your target without exploding your budget and without restricting too much your audience with too much criteria.
Example of too much criteria:
« I want to target a housewife, living in Kentucky, who watches Games of Thrones, mother of 3 kids, owner of one dog and who wants to buy a break car »
We speak here about « enriched data », enriched by information such as geo-localization, income, children…The key is to choose the most relevant information to target the right audience, taking into consideration the product/service you will promote.
Social network: you can simulate your campaign’s costs yourself thanks to free easy-to-use advertising tools made available by Facebook, Twitter or Linkedin. You will find below a list of the main social network ad buying desks:
Want your budget? Get in touch with our experts on our site!
The Adintime team