Media buying is the process of purchasing ad space and time on digital and offline platforms, such as websites, YouTube, radio, and TV. A media buyer is also responsible for negotiating with publishers for ad inventory, managing budgets, and optimizing ads to improve campaign performance.
The goal is to identify and purchase ad space on channels that are relevant to the target audience at the optimal time, for the least amount of money.
Challenges of Media Buying
- Marketing Measurement
- Optimize Campaign In-Flight
- Avoiding Ad Fraud
- Clear Contracts
- Set the Budget: Guaranteed Inventory and Non-Guaranteed Inventory
- Send Requests for Proposals (RFP’s)
- Finalize the Insertion Order (IO)
- Send the Creative to the Media Outlets
- Launch the Campaign
- Continuous Measurement and Optimization
- Reconcile Ad Spending with Original Budget