Media Buyer Facts

Media buyers are the individuals responsible for negotiating and purchasing time and advertising space for the purpose of advertising. Media buyers take a lot of responsibilities upon their shoulders such as: deciding which type of media is right for advertising your company, making cost-effective decisions when purchasing media placements, and measuring the reach and frequency of media placements.

Do I need to hire a media buyer?
Do I really need a media buyer?
What will a media buyer do for me?
How will we determine the best media fit for my business?
Where is my money going?
What skills do media buyers need?
How does the process of buying online media work?
What is an online media buyer?

We answered the most frequently asked questions about media buyers, and they can be found below. You can also click the question linked to the answer.

Do I Need to Hire a Media Buyer?

We answered the most frequently asked questions about media buyers, and they can be found below. You can also click the question linked to the answer.

Do I Really Need a Media Buyer?

Chances are that you do. Most professionals don’t have the required experience in advertising to successfully market their business. Even if you do know your stuff when it comes to marketing, you likely don’t have the time to dedicate to promotions. Advertising for your business is a full-time job in itself. When you hire a media buyer, you can rest assured that the necessary marketing is getting done as you work on other business necessities.

WHAT WILL A MEDIA BUYER DO FOR ME?

Media buyers take a lot of responsibilities upon their shoulders, including:

  • Deciding which type of media is right for advertising your company
  • Making cost-effective decisions when purchasing media placements
  • Measuring the reach and frequency of media placements

How Will We Determine the Best Media Fit for My Business?

A lot goes into deciding what type of media is ideal for marketing your business. There are so many types of media to choose from including television, radio, newspaper, direct mail, and outdoor ads. Factors that will be taken into consideration when deciding which media outlets to use include:

  • How does your business’ competition market itself? How do your competition’s products compare to your products?
  • What makes your products or services stand out from the rest?
  • Who is your target audience? How do you reach your target clientele?
  • What do you want to result from your advertising efforts? Do you want to gain new customers or do you simply want to create brand awareness?
  • What type of budget do you have for media placement and advertising?
  • Are your ads designed to run on the types of media you are choosing?

What Skills Do Media Buyers Need?

Media buyers ensure that product advertising reaches its targeted market through television, print, or Internet. They have advertising space to sell and products to promote. Media buyers use their expertise to entice people to buy. If you are considering becoming a media buyer, here are the skills you must have.

  1. Media buyers must have good negotiating and scheduling skills.
    Negotiating and scheduling skills are imperative in a media buying job. Without these skills, advertising space will not be purchased for an appropriate price. Interpersonal skills are paramount and are necessary for establishing and maintaining strong relationships with vendors, affiliates, and sales representatives. Negotiating skills are required to buy and secure the best time slots, rates, and other media advantages.
  2. Media buyers must have good research and organization skills.
    Media buyers must know their products and customer demographics to be able to buy advertising space adequately. This requires exceptional research and organizational skills. Performance data must be analyzed, and media buyers must be able to provide the rationale behind the decisions made from data analysis. The suitability of media plans must also be assessed after they are devised.

    Organization is required to manage and build successful campaigns. Staying abreast of industry trends is also required to be successful as media buyers.
  3. Media buyers need good communication and writing skills.
    Good communication and writing skills are necessary if you plan to take a job as a media buyer. People who do not communicate well are not very effective as media buyers. They need good communication skills to supervise and adjust media buys or to broker purchased media time.
  4. Media buyers should have exceptional math skills.
    Media buyers must keep track of media budgets and expenses. Math skills are also required to complete balance sheets, purchase orders, and other bookkeeping tasks.

How Does the Process of Buying Online Media Work?

The Internet is one of the best places to market your product or service which is why just about every single business now owns a website. After creating a website, there is an additional step — online marketing. Specifically, purchasing online media space will be the next step to promoting your website, which in turn will promote your products and services. Here is the general process that most website marketers go through.

Step 1: Research and Testing
Finding the best place to market your website is the most difficult step. Most website marketers will do some research and figure out what networks will work best for their website by seeing what similar websites are using. After that, they will test out their top options and see how successful their choices were with bringing in traffic.

Step 2: Budgeting
It is important to consider the prices of the network with which you will be working. Every company has a budget. You will want to get the most bang for your buck in order to bring in as much traffic as possible while not spending a ton of money.

After finally choosing a network based off of price and success, you need to decide on your advertising budget for the network. Traffic networks will have the ability to increase or decrease the amount of traffic you buy in real time, therefore giving you total control over your media purchase.

Your media advertisements are going to take your traffic back to a landing page that you have assigned. This page needs to be prepared before the marketing actually begins; otherwise you are going to waste money on clicks when you won’t be getting anything in return.

Step 3: Landing Page
Your landing page should have the product or service that you are promoting posted with an image, as well as descriptive information. Also, if you are not directly selling the item on your landing page, make sure that the user can easily navigate to that area. You want them to make a purchase right then, and not wait to come back later — they may forget and not return.

What is an Online Media Buyer?

An online media buyer is the person responsible for purchasing online advertising and monitoring the results. They are statisticians as well as marketers – their job description includes being able to negotiate the best price as well as research the best outlets for their company.

Online media buyers must evaluate the potential of advertising channels by the demographics, psychographics and geography of the audience of that channel. They are also responsible for determining the optimal type of medium. Some companies are much more successful on new media such as the Internet; other companies do much better on traditional media outlets such as print and radio.

Online media buyers focus specifically on the Internet and its many forms of distribution. For instance, an online media buyer would be responsible for determining if ad space on a social media hub would be more beneficial than allocating that part of the budget to a PPC campaign within a major search engine.

Online media buyers will also attempt to research and negotiate ad space for their clients during the most appropriate time. They are responsible for determining if an advertisement should have local, regional, national or international reach. Although online media buyers will have some spillover no matter whether they choose to focus locally or expand internationally, there is still a discipline which involves trying to direct as many resources towards the target market as possible.

Depending on the experience of an online media buyer, he or she may be a general marketing media buyer or a direct response media buyer. The main difference between general marketing and direct response media buyers is that direct response buyers are also responsible for creating media schedules as well as negotiating the price with advertising outlets.

Media buyers are almost always limited by budgetary constraints. There are different aspects of the media buying discipline which focus on the allocation of resources and the return on investment of those resources. Larger companies will usually split these responsibilities into separate job descriptions; however, online media buyers for smaller companies will usually have to wear both hats.