Myths About Media Planning BustedOct 14, 2019 | Newspaper
Media planning is surrounded by a bubble of myth which we are about to burst into this blog.
Advertising is a part of your sales and marketing efforts which helps you reach the target audience. It is basically an investment that helps a business to grow. However, your advertising money is almost every time-limited. Also, your advertising budget must be in line with your promotional and marketing goals. Hence, how will you decide which media outlet you need to buy when all channels and publications claim to be the best in business? We have busted common media planning myths for you.
Media Planning- the Myths Busted
This section will answer your question and will give you better insights while you plan your media
Myth: The Cheapest is the Best
Fact Is: Very low rate means very low exposure as well. Moreover, most media systems have the tendency to cancel the spot with the lowest paying price when the time slot is in demand. Furthermore, if your Ad is not running at all, how do you expect it to be effective? This is why low-cost media should not be the leading factor in your media mix, even if it appears to be a good part of your media mix.
Myth: Only Buy the Highest-rated Slots
Fact Is: It is difficult to buy affordable frequency when you only buy premium slots. The best media plan is a combination of reach, frequency, and consistency. Lower-rated slots bring your overall costs down and still reach your target audience.
Myth: Wait Until the Last Minute to Get Better Rates
Fact Is: It is not true since the system depends on the supply and demand rate. If there is any remnant inventory, it is great. However, 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.
Myth: You Get to Bargain with Media Packages
Fact Is: 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 high for the audience you are getting for better Media Outreach.
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