Media Buying is the process of strategically selecting a mix of media platforms to place ads over a period of time in order to achieve an advertiser’s campaign goals.
There are several steps to a media plan:
• Audience research. What is your target audience? How does your target audience shift by medium? Since consumer behavior varies by demographic, planners are tasked with identifying which mediums will be the most effective for a particular campaign
• RFP the market place. What percentage of your campaign will be devoted to which types of buys, from display to search, and beyond? As planners figure out which mediums will be the most effective, they will allocate media dollars accordingly to achieve the strongest results
• What percentage of your spend will be on guaranteed inventory versus non-guaranteed (RTB)?
• For guaranteed inventory, the planning stage may include sending RFPs (requests for proposals) to suppliers you are interested in including in your campaign. For inventory you've purchased before, you can also purchase premium, guaranteed inventory at your own established rates without needing to RFP, by purchasing programmatically (automated guaranteed).
Marketing Optimization is the process of improving the marketing efforts of an organization in an effort to maximize the desired business outcomes. Marketing optimization is performed on each individual marketing tactic employed, as well as optimizing the fit of those tactics into the marketing strategy as a whole.