Here’s Why Media Planning is Important for Your Company
Understanding what is happening around your business is the primary step to long-term success and that is possible through proper media planning.
Media Planning
It is the process of discovering and selecting acceptable channels for delivering promotional or advertising messages to prospective customers at the appropriate time and location. In other words, media planning specifies who will be targeted, through which channels, when, and with what message.
Forms of Media Planning
Enterprises should select media channels that are relevant, cost-effective, and profitable to their business. During media planning, three major categories of media are considered:
Paid Advertising
Paid media is a type of advertising that involves the buying of ad space to promote a brand to a larger audience. Paid media is just marketing that is paid for. Sponsored social media postings, display advertisements, paid search results, video ads, pop-ups, and other promoted multimedia are some examples. This is the most typical technique for brands to enhance their awareness and sales.
Owned Media
Owned media relates to content that is owned by your brands such as blog posts, webinars, and social media accounts. A business having different owned media channels also have a larger digital footprint and thus, more potential consumers and followers.
Earned Media
Earned media refers to organic publicity or exposure for a brand. Customer reviews, media attention, and word-of-mouth are all examples of earned media. This form of media is valuable since it typically comes directly from customers, serving as proof of service excellence for new clients.
Such input can also assist a company in improving the quality of its products or services. By assessing the costs and benefits of each platform, you may choose which resources and forms of media will best fit into your company’s media plan.
Importance of Media Planning
The result of any advertising campaign relies mainly on the media planning process. Effective media planning can lead to a significant return on investment, whereas improper media planning might result in a low return on investment and an unsuccessful brand image.
Below are the importance of media planning:
1. It Enables Brands to Set Relevant Goals
Advertising without a clear goal can be a waste of money and time. Media planning helps brands set relevant and specific goals such as increasing brand awareness, reaching potential customers, increasing customer lifetime value, or building brand notoriety.
This allows businesses to efficiently measure the effectiveness of their efforts, and in the event of any deviations or difficulties, they can always address them as soon as possible.
2. Create Highly Effective Creatives
Marketers can use media planning to describe all creative activities in advertising. It helps them develop informative and convincing creatives and select the right time to promote them. The way promotional messages are delivered to potential customers plays a great role in determining their success.
To ensure the effectiveness of advertising campaigns, brands must consider the followings:
- Ensure that the ad copies are impressive.
- Define what makes the best ad copy for your particular business
- Define ad copy templates to avoid unnecessary work.
- Identify the best time for your intended audience.
3. It Helps Optimize The Advertising Budget.
Brands should determine and use platforms that are most relevant for their promotional campaigns to help achieve the desired outcomes and increase ROI. Budgeting for media spend will help prevent overspending or wasting money on ineffective media channels.
Media planning also enables brands to have a bird’s eye view of the whole advertising strategy and further allows them to optimize the costs required to develop copies and creatives.
4. Control The Ads Performance
Media planning also involves tracking how well the campaigns are performing and making adjustments as required. Having relevant and specific goals in place helps you determine whether or not the ad campaign is achieving the desired outcomes. Brands require a large amount of data to create the conditions for measuring advertising during media planning. This data will assist them in analyzing the performance of the ads after the campaign and optimizing the plan to make it more effective.
As a Digital Marketing Agency in Mauritius, we offer effective media planning and monitoring services to our clients to ensure the best return on investment.
Read more: https://spheremedia.mu/media-planning-and-monitoring/
