Like many industries these days, there is a way to automate the media buying process with artificial intelligence (AI). The programmatic technique involves real-time bidding (RTB) platforms automating the buying and selling of an ad. As various industries seek out how to leverage AI, there is still a place for direct media buying. Let’s dive into the opportunities.
Understanding direct media buying and the advantages.
There are several reasons why marketers choose direct media buying, even though a way to automate exists. Industry direct buying allows companies to hone in and put their product or service in front of their target audience. For example, a company that manufactures car parts places ads in a trade publication for the automotive industry. When a business plans to spend thousands of dollars on advertising, it’s crucial the right people see it, at the right time and in the right place.
Advertisers also have more control and an opportunity to build relationships through direct media buying. Contacting publishers directly to purchase ads helps with negotiating desirable placements and their prices. Plus, some of the optimal ad placements might not be available in real-time bidding platforms. RTB platforms are unpredictable whereas with direct buying, marketers get what they pay for.
If you decide to go the industry direct buy route with your business, there are some best practices to keep in mind.
Direct media buying best practices.
As with all ads, copy and creative are important components. However, there are other best practices to follow to help maximize your ROI.
- Define your goals. When planning your media buy, knowing what you hope to achieve will help you determine how you will measure success. Whether it’s marketing a new product or increasing awareness, goals are necessary for tracking the outcome of your campaign.
- Identify your target market. Who do you want to see your ads? What is their age, gender, income, location? This is your target market. An undefined audience can lead to unsuccessful media buys and wasted ad dollars.
- Discover where to reach your audience. After identifying your “who,” it’s time to determine your “where.” Standing out in a saturated market is crucial, and you can do this by ensuring your ads are placed in relevant spots at the right time. As mentioned above, a car part manufacturer might purchase ads in an automotive magazine.
- Think outside the box…or media kit. By building unique relationships with industry partners, the sky is the limit on what we can create together—if it benefits both their audiences and ours.
- Analyze and optimize. You’re not done once you’ve purchased ads. In fact, the process is ongoing. When your campaign is live, track metrics like clicks and impressions and adjust accordingly. That might be shifting spend to higher performing ads or tweaking creative. Optimizing your ads in real-time can help you maximize their performance.
Media buying is one component in an overall strategy.
In the current era of integrated marketing, there shouldn’t be a programmatic advertising vs. direct buying debate. Instead, a solid approach is a mix of both. Direct buys give marketers more creative liberty and the opportunity to purchase optimal placements, while RTB platforms help businesses create ads with speed and efficiency. So when you plan your next media campaign, make sure to see if direct media buying should be part of it.