Myths About Media Planning BustedSep 05, 2017 | Newspaper
Advertising is a part of your sales and marketing effort. Money spent on advertising is an investment in building up your business. But more often than not, your advertising money is limited. Also, you need to keep your advertising budget in line with your promotional and marketing goals. Then the question is, how do you decide on which media outlet you need to buy when all channels and publications are claiming to be the best in business? We have busted common media planning myths for you.
This will help answer your question and will give you better insights while you plan your media
- The cheapest is the best – Very low rates mean very low exposure as well. Moreover, most media systems cancel the spot with the lowest paying price when the time slot is in demand. And how can your ad be effective if it does not run at all? This is why low-cost media should not be the leading factor in your media mix, even if it is a good part of your media mix.
- Only buy the highest rated slots – It is difficult to buy affordable frequency when you only buy premium slots. The best media plan comes with a combination of reach, frequency and consistency. Lower-rated slots bring your overall costs down and still reach your target audience.
- Wait until the last minute to get better rates – It is all about supply and demand really. If there is any remnant inventory, it is great. But if you buy premium slots at the last minute, sometimes you end up paying more, not less. If you do not mind some lower rated slots, you can wait until the last minute to place your buy. But then again, sometimes they get cancelled and in that case, your ad will not run at all.
- You get a bargain with media packages – Media outlets sometimes try to dump unsold inventory as part of a package. You will buy a couple of premium slots along with several junk ones in a package. The package might look good because it has high frequency, but you are still paying a premium for the audience you are getting for better Media Outreach.
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