In a matter of months, 2021 will be coming to an end. In the media world, the Fall is the perfect time to start working on your 2022 Media Plan. Creating a media plan is a detailed process that requires planners to consider the needs of target consumers as well as the goals of the business. At Marketing Keys, that is our expertise. Here are some things to keep in mind when creating a media plan.
Steps to a Successful Campaign
Step 1. Establish clear goals
The overall goal is increase to increase sales. However, in order to keep track of what works and what doesn’t, be specific and clear with your goals. Once clear goals are established, media planners must conduct research into market trends and the competitive landscape.
Step 2. Determine Target Audience
Marketers need to examine who their audience that they are trying to engage. From there, marketers need to look at attribution measurements and engagement analytics to understand the types of ads these users engage with, which creative is most effective, and importantly, which channels these consumers use.
Step 3. Consider Frequency & Reach
Reach refers to how many people the campaign will be in front of over a specific amount of time. Frequency refers to how many times the consumer will be exposed to the ad over the course of the campaign. Marketers must determine what combination of reach and frequency will deliver the most success.
Step 4: Analyze and Optimize Campaign Performance
One of the most important steps to building a media planning strategy is to continuously monitor, track, and analyze performance. Marketing campaigns are not “set-it-and-forget-it." Instead, they require ongoing supervision. This allows marketers to identify opportunities to optimize performance in real-time based on what is or isn’t working for each campaign.
Selecting the Right Media Channels
Here are some of the most popular channels that marketers choose when media planning and what makes each of them unique.
Magazines: Magazines have a long shelf life because they stay in a consumer’s possession for two to four weeks after being read. Research shows there is a 60 percent higher amount of trust in magazine ads than in other forms of media.
Newspapers: Advertising with local newspapers is a great way to ensure a brand’s message stays local. Newspaper readers are more likely to have a higher education and 7 out of 10 households earning above $100,000 read the newspaper. This can be important when selecting ad space based on demographics.
Radio: Radio ads allow you to target specific areas or regions of the country. It is also an easy medium to build frequency with your target audience. Also, it can be efficient and is considered a lower-cost medium.
TV & Cable: This media is highly visual and can demonstrate products in everyday life. Also, the average American watches approximately five hours of television a day.
Out of Home: Media such as billboards are large and get attention. In a busy area, your message can reach tens or even hundreds of thousands of people a month.
Digital Publications: Many digital publications have opportunities for you to email their database through a personalized email or newsletter. They can track open rates and understand conversion rates to your site or asset.
PPC: Advertisers can capitalize on search intent. Advertisers can retarget people who have visited their site. PPC is an extremely cost-effective medium.
Social Media: Social media is an extremely cost-effective medium. It is also extremely targeted, allowing marketers to target by interests, age, marriage status, etc. Social platforms are constructed on a basis of community, which allows your brand to connect more personally with consumers.
Programmatic Advertising: Programmatic advertising is extremely targeted, using an algorithm. Targeting tactics are used to segment audiences using data so that advertisers only pay for ads delivered to the right people at the right time, and depend less on the “spray and pray” method of digital advertising.
Carolina Macedo, the author, is Project Coordinator of Marketing Keys.