The Art of Planning: Strategizing a Successful Media Plan
As 2017 comes to a close, savvy businesses in all industry sectors are finalizing their 2018 marketing plans. But what channels are included in a successful marketing plan? Although the options are endless and increasingly complex as digital and social marketing continue to dominate the landscape, you should always make sure to include the basics, such as a solid public relations campaign, social media and one of the most important plans for all marketers – a strategic media plan.
The media plan includes various media platforms for your brand or product, and it determines the best combination of print and digital media required to reach your target market(s) and achieve your marketing campaign objectives. Without this useful tool, the annual planning process would be nearly impossible. With a professionally organized and strategized media plan, advertisers can feel confident that they will convey their message to their target audience within their budget.
But what goes into the planning process of a strategic media plan? Let’s delve a bit further:
- Market Analysis
This includes a situation analysis and a strategic marketing plan. Both of these form the basis of which your media plan is based on. You first have to understand the marketing challenge in relation to your competitors, then your marketing plan should establish objectives and goals that will solve that challenge. Once the market analysis is complete, you should have a clear understanding of who your target market is.
Now that you’ve established your target market, you are better able to understand where the prime advertising space would be to gain sufficient exposure, including demographics and how to promote to this audience effectively. Media strategy comes into play here, as well, including media mix, geographic coverage, reach & frequency, and budget considerations.
It’s the media buyer’s job to negotiate the best rate possible to stretch the budget. Because of long-term relationships with the media, and the levels at which a media buyer purchases various media, they are normally able to obtain a better rate than you would be able to get yourself. A media planner should also be able to leverage your budget and negotiate FREE value add-ons, which will also give you maximum exposure throughout the year.
Are you in need of a strategic media plan for 2018? Let us put in the hard work while you reap the benefits. Contact us today!