The task of media planning can be done by either the brand owner itself or by an advertiser or professional Media Planning Agencies. It basically is the combination of all the activities and strategies that are employed to put a brand Ad in media with the objective of achieving maximum impact in terms of brand acceptability and marketability. Earlier the advertizing agencies used to provide Media planning services also but with changed times and stiffer competition, the task is now handed out exclusively to businesses which specialize in Media planning services.
Media objectives
At the onset, Media planning Companies assess as to what will be their Media objectives. These objectives can be even briefed to the Media planning companies by the brand owner also. Generally the Media objectives decide in quantity or percentage, the reach of an Advertising schedule in a given period of time. There can be different measures for assessing this reach which include GRP, TRP, CPT, UC, CTR etc. At the contract negotiation stage these objectives are discussed between the brand owner and the Media planning agency and figures agreed at.
Target audience
Whether through external market reports or through internal market research, Media planning Agencies have to establish the size of their target audience or universe. Universe or target audiences are the key consumer group within a larger group of a region’s population whom the brand owner wants to target with the Ad.
Media mix
Once Media objectives have been set and demographical group of target audience identified, the next task of Media planning Agencies is to observe and analyze the media usage habits of the target audience and evolve the most effective Media Mix which will achieve the best possible reach for the brand.
The target audience is exposed to a number of media types like TV, Radio, Newspapers, internet, billboards etc and even within these media types a target audience could well be getting exposed to a number of channels. This means many TV channels, Radio stations, various newspapers or websites etc. The job of Media planning agencies is to find the best possible media mix which exposes maximum target audience with minimum budget.
Media Strategies
Media planning agencies can use a number of media strategies to achieve the preset media objectives. The media strategies try to address the following issues:
* Through which media channels should the media mix be achieved
* What should be the frequency of the Ads
* What should be the budget for media buying
Media strategies are evolved to achieve a certain reach in the target audience. In Media planning terminology, “Reach” is defined as the percentage of target audience who are actually exposed at least once to the brand’s Advertisement over a given period of time, which usually is anything between one to four weeks. The better the media mix plan is of the Media planning Agencies, the better would be the Reach achieved by it.
On the basis of the estimated reach of the Advertisement, the Media planning Agencies decide what should be the ideal frequency that would be required to meet the media objectives. In Media terms, Frequency means the number of times a target audience is exposed to an Advertising scheduler over a period of time which may be a day or a week. Therefore ‘reach’ and ‘frequency’ are two crucial features of media strategies which help Media planning agencies in rolling out their Media plan.
Media Buying
Once all the above steps have been taken, the Media planning Companies can either engage Media buying Agencies to proceed to buy various media vehicles as per the media mix plan and media strategies of reach and frequency, or the media planning agency can itself undertake the media buying responsibility if it is part of their overall Media planning services. Media buying agency negotiates with the media houses to get the possible time-slots at lowest possible rates along with add on features like free additional air-time, increased frequency at no extra cost, proxy advertising packages etc.
Feedback
After the media has been bought and advertisement has been dispensed into the target audience, the Media planning agencies may evaluate their performance against the media objectives and take corrective measures if required.
To learn more about Media Planning Agency Please click here: Digital Marketing Agency.
Media objectives
At the onset, Media planning Companies assess as to what will be their Media objectives. These objectives can be even briefed to the Media planning companies by the brand owner also. Generally the Media objectives decide in quantity or percentage, the reach of an Advertising schedule in a given period of time. There can be different measures for assessing this reach which include GRP, TRP, CPT, UC, CTR etc. At the contract negotiation stage these objectives are discussed between the brand owner and the Media planning agency and figures agreed at.
Target audience
Whether through external market reports or through internal market research, Media planning Agencies have to establish the size of their target audience or universe. Universe or target audiences are the key consumer group within a larger group of a region’s population whom the brand owner wants to target with the Ad.
Media mix
Once Media objectives have been set and demographical group of target audience identified, the next task of Media planning Agencies is to observe and analyze the media usage habits of the target audience and evolve the most effective Media Mix which will achieve the best possible reach for the brand.
The target audience is exposed to a number of media types like TV, Radio, Newspapers, internet, billboards etc and even within these media types a target audience could well be getting exposed to a number of channels. This means many TV channels, Radio stations, various newspapers or websites etc. The job of Media planning agencies is to find the best possible media mix which exposes maximum target audience with minimum budget.
Media Strategies
Media planning agencies can use a number of media strategies to achieve the preset media objectives. The media strategies try to address the following issues:
* Through which media channels should the media mix be achieved
* What should be the frequency of the Ads
* What should be the budget for media buying
Media strategies are evolved to achieve a certain reach in the target audience. In Media planning terminology, “Reach” is defined as the percentage of target audience who are actually exposed at least once to the brand’s Advertisement over a given period of time, which usually is anything between one to four weeks. The better the media mix plan is of the Media planning Agencies, the better would be the Reach achieved by it.
On the basis of the estimated reach of the Advertisement, the Media planning Agencies decide what should be the ideal frequency that would be required to meet the media objectives. In Media terms, Frequency means the number of times a target audience is exposed to an Advertising scheduler over a period of time which may be a day or a week. Therefore ‘reach’ and ‘frequency’ are two crucial features of media strategies which help Media planning agencies in rolling out their Media plan.
Media Buying
Once all the above steps have been taken, the Media planning Companies can either engage Media buying Agencies to proceed to buy various media vehicles as per the media mix plan and media strategies of reach and frequency, or the media planning agency can itself undertake the media buying responsibility if it is part of their overall Media planning services. Media buying agency negotiates with the media houses to get the possible time-slots at lowest possible rates along with add on features like free additional air-time, increased frequency at no extra cost, proxy advertising packages etc.
Feedback
After the media has been bought and advertisement has been dispensed into the target audience, the Media planning agencies may evaluate their performance against the media objectives and take corrective measures if required.
To learn more about Media Planning Agency Please click here: Digital Marketing Agency.