Finding the most relevant audience to market to is crucial to making a business profitable. Marketing departments spend millions of dollars to build their ideal buyer persona so that they could market to a more relevant audience.
Once they do that, the rest is just a matter of unifying the content and media planning to target the most viable buyers. This article throws insights into the concept and importance of media planning for an advertiser.
Media Planning: A Brief Introduction
Media planning comes before the creative processes in advertising. It involves a cascade of decisions in delivering promotional or advertising messages to prospective customers using appropriate channels at the proper time and place. Media planning is about framing the best way to get the advertiser’s message across the market.
The goal of the media plan is to find the correct combination of media that allows the marketer to communicate most effectively to the largest number of potential customers cost-effectively It enables marketers to control wasteful advertising and optimize resource utilization.
Why Is Media Planning Crucial?
As per a study by HubSpot, 24% will increase their investment, whereas 70% of marketing teams already invest in their content marketing efforts. Spending costs on promoting products have become a global trend. But huge investments can sometimes also lead to huge losses. Therefore, media planning is crucial to get confident in your decision about investments.
The primary goal is to achieve the brand’s goals and optimize product promotion costs. It involves planning multiple aspects, such as ad copies, ad copy templates, what makes a good copy, and other creative processes in advertising.
Media planning done successfully brings lucrative outcomes in terms of:
- Attracting new customers,
- Increase in market share,
- Brand awareness, etc.
Planning helps determine critical points of marketing campaigns and ensures that it aligns with the company’s objectives with the assigned budget.
Promoting a ready-to-market product/service without a planned strategy may mean unpredictable outcomes. It eventually leads to loss, not just monetary loss but also in terms of broken reputation, brand image, and lack of trust among potential users. Media planning enables brands to avoid roadblocks and makes them confident in the success of their future campaign. Developing a media plan is needed to reach the top in the sphere of the market. Let’s explore some more benefits of media planning.
Media Planning: Benefits
Media plans are the base needed to launch any promotional or advertising campaign. Here’s why it plays a crucial role to achieve the brand’s promotional objectives.
1. It Enables Brands Set Relevant Goals
Throwing darts in the dark never benefits anyone.
Advertising to an undefined audience or with undefined objectives can waste money. Setting exact goals will help increase brand awareness, reach potential customers, increase customer lifetime value, and build a brand reputation.
2. Develop Effective Creatives
Media planning allows you to define all the creative processes in advertising. Marketers can create effective creatives and choose the correct time to promote them. The way brands transfer promotional messages to potential customers plays a prominent role in defining their success.
While creative ad campaigns, brands must keep the below things in mind:
- Ensure that the ad copies are eye-catching.
- Define what makes good ad copy for your particular business
- Define ad copy templates to avoid redundant work.
- Determine the most preferable time for your target audience.
3. Map Your Buyer Journey
Every customer follows a specific path before making the final purchase. Defining this path for customers or knowing it is crucial. It enables brands to interact with their customers in a more personalized manner. Personalization offers valuable information that will promptly lead them to the next step.
It enables you to frame strategies and pitch customers at every stage of the buyer’s journey. People become more informed about the brand as they move forward in the journey. As customers move down the funnel, they become more niche, and their buying intentions also increase. Therefore brands must ensure that they create ad copy templates accordingly.
Prioritize High Intent Users First
The most significant ROI comes from the most high-intending customers — the smaller, more qualified audience. If this group converts at a higher rate, it’ll be lucrative for everyone. Therefore, you must prioritize this group first and create a buzz around your brand.
4. It Helps Optimize The Ad Budget
Brands need to identify relevant platforms they can use for their promotional campaigns. The correct channels and platforms can help them optimize their campaigns and increase their ROI. Don’t pay too much attention to the less effective platforms that will not serve well if you’re advertising on a limited budget. Media planning also enables brands to have a bird’s eye view of the entire advertising strategy. It further enables them to optimize the costs needed to develop copies and creatives.
5. Control The Ads Performance
Media planning also includes tracking how the ads are performing and optimizing them with time. Setting relevant and specific goals enables brands to measure the success of their campaigns. In case of any deviations or problems, brands can always fix them at the earliest.
To define the parameters to measure ads at the time of media planning, brands need a lot of data. And this data will help them analyze the ads’ performance after the campaign and optimize the plan to make it more successful.
The Right Media Mix
So now you understand the importance of media planning and how it makes advertising and promotions effective. The importance of media planning lies in devoting budget to the high-intending customers. It lays open opportunities and a foundation at every step of the user’s journey.
ROI is at the forefront of every ad campaign. Start at the bottom of the customer funnel and work backward with your marketing budget. Work your best to fill in as many steps as possible.