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What Is Media Planning And How Is It Beneficial

In today's world, there are about 7.3 billion people. Unbelievably, half of the populationgoes online at any given time.Digging deeper, it can be seen that the total digital buyer penetration isprojected ataround 45%. This number is accompanied by a web sales estimate of a staggering$1.592 trillion globally. So what exactly do these figures imply? Given these stats, one can safely deduce that the world is now reaching the digital age's peak. A lot has changed along with the coming of digital technology, most notably people's shopping and buying habits, to name a couple.




Entering the Digital Age


Amidst the challenges we are now facing in the 21st century, it's about time we think farahead in the future and start considering what's in store for all of us, technology-wise.Indeed, the ever-changing needs of people have given birth to the proliferation of digitalmedia. This is one of the reasons why businesses and industries are adapting to stayahead of the competition.


One such example of this is the way businesses do marketing. As people's dependence on traditional media is declining, brands utilize innovative and creative ways to reachtheir customers more effectively. What better way to doso than connect with themwhere they can most likely be seen: on the internet. This is where digital marketingcomes into play.


What is digital marketing?


Since its conception way back in the 90s and 2000s, online-based digital technologies have been placed at most businesses' core. Digital tactics, as well as digital channels,help support a significant marketing effort. Social media and email marketing, pay-per-click advertising, display advertising, and search platforms are some of the more prominent marketing tools that brands are going for. Of course, exactly which of thesetools are the best will largely depend on the type of business and the target customers.


At this point in time, digital marketing is an essential component of promoting brand awareness. It seems that each brand out there is trying to maintain a strong socialmedia presence and digital advertising strategy. The majority of consumers arecurrently relying on these to stay informed about what's going on in the business world.


What is media planning?


One key goal of every marketing campaign is to promote awareness of a company'sproducts and services among potential customers. This can be achieved through theprocess of media planning. Naturally, regardless of the approach, the end game is thesame for all: the customer's purchase. With the help of media planning, ad placements can now be correctly strategized, and an optimized performance can be maintained throughout the entire campaign lifecycle.Media planners have a vital role toplay in the media planning process. Most advertising agencies use their skills and expertise to evaluate which among the many media options available can best support a particular brand, product, or service. They have to give much thought to specific details, such as advertising, the marketing campaign objectives, and the ideal target audience. They also decide where to feature a particular advertisement, coming from a list of selected media outlets like websites, magazines, newspapers, TV and radio stations, and outdoor placement.


How Media Planning Works


The driving force behind a well-developed media plan is the marketing goal. As withevery goal, it should be SMART–specific, measurable, achievable, realistic, and time-bound. This facilitates a proper understanding of what media strategy to use, be itcatching new prospects, making sure customers remain loyal to your brand, orretargeting those that you missed the first time.

When comparing various advertising media, there is a need to gather and highlightclients' information to guarantee an effective and creative media plan. This gives thebrand a huge advantage in a competitive market. Generally, media planners and clientswould go for a media plan covering the following points in detail.


Reach


How much product exposure are you aiming for? This is an essential point to thinkabout. There is also a timeframe or advertising schedule to consider so that ideal resultscan be achieved in line with the media plan's goals. At times, other media or timingmaybe needed. To illustrate this, if you need drivetime on the radio, you could go for anextra day and night time slots to connect with a broader audience. Or you couldincrease the number of ad insertions in your local paper to have more people exposedto your ad.


Frequency


How often do you want the target customer to be exposed to your ad?It may benecessary to repeat the ads as much as you need to just so you can break through thecustomer's selection process and increase product awareness. Thecritical point toremember here is that in advertising, once is just not enough.


Cost


On top of advertising reach and frequency, the cost of reaching members of the targetaudience should be calculated. Under cost per thousand utilized by print media, thepublication's circulation is accounted for. Under cost per point utilized by broadcast media, the schedule's value is recorded plusthe number of rating points it delivers.


Selectivity


It's also a good idea to determine which media outlet can bestreach your target market.Those who could be your most likely prospects may be restricted in terms of mediareach. For instance, advertising a luxury car wouldn't work in a local newspaper if thegeographical area has limited coverage of potentially interested people.


Impact


Get the most out of your ads by opening the customer's senses. Contrary to popularbelief, it's not always the sense of sight that appeals the most. Depending on yourgoodies, it could be the sense of smell or sound that works best.


The perks of media planning


One noteworthy point of media planning is that you can be privy to valuable informationon other brands and industries operating in the same market. This, in turn, puts you onestep ahead of the game when it comes to campaignstrategies. Your media planners are also the ideal people to determine which platform/s would work best for you to reach your business goals.To boot, firms with limited budgets can benefit from media planning as it addresses pending inefficiencies. Wasteful advertising can be controlled, and available resourcescan be used in an optimum manner. Precisely how this is done would be up to yourmedia planning team. Last but not least, standards of performance should not besacrificed. Customer engagement should be tracked at all times to maximize thesuccess of future campaigns.


Conclusion


With marketing trends that are continuously evolving, modern-day entrepreneurs canget the most out of media planning. Irrespective of the company size, staying currentonnew developments can ensure that your business receives the best return oninvestments. By and large, media planning seems to be an indispensable way to ensurea successful marketing campaign. More importantly, it gets the right message to theright people through the proper means.If you are looking to create a media planning strategy but are in doubt of its process,maximise your output by working with an agency such as DFW Creative..




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