This term has appeared because of several processes were happening in the society. According to principle of relative permanency by McComb: when we have a new mass media source, the amount of recipients doesn’t become more, the same as money spent on media products buying as all the stuff is simply redistributed among the channels. Audience granulation is a key indicator of current condition of mass media. The more methods of consuming advertising information we have, the less the amount of traditional audience becomes. However, common amount of time for ad watching is still the same.
As there are lots of variants to send ad messages to the clients, the strategies for achievement become more and more complicated. Nowadays this task solution is offered to computers, to say it simply that is the place where this science was born.
The idea itself was born in middle sixties of the past century. Rodger Barton has performed several researches about effectivity of marketing campaigns and came to the conclusion that the highest results are gained when there is a plan of work with media channels. It means that simple posting of your ad is not enough, there a should be a strategy how to do it with more results. The idea of the notion is hidden in the very word: “media” as a means of transmitting ad messages and “planning” – doing everything according to a certain schedule.
It may sound strange now, but in the beginning of the 20th century advertising was performed by intuition: the advertisers published their ads in the streets, newspapers and other sources trying to guess what will work exactly for them. Television is probably “to blame” media planning appearance as even at that moment there were already too many channels and guesswork couldn’t be accepted.
To cut long story short, we can say that media planning is an art of reasonable (let’s read it – money saving) way to plan ad posting.
There are several approaches to understand what is media buying about. They are mainly determined by the specificity of media sell in particular ad ecosystem: TV, radio, billboards and others. Special inner advertising services can perform media selling or side-party advertising agencies. According to that, we can say that there are internal or external media sellers exist. A complex media selling plan can be also implemented as well.
Media sellers can have a monopoly or limited rights in advertising, only sponsorship and other variants. Options for payments are also variable for these people: commission, fixed payments and combination of previous options.
Internal media sellers are more profitable to hire in perspective as they have better perception of the advertising vehicle and don’t let losing flexibility and readiness in comparison with external ones.
What is a media buyer?
This a person that is specially hired to have media planning and distribution more effectively. They deal with media space purchasing. These workers have a good command of media buying process and can resolve some issues quicker and more beneficially due to having personal acquaintance with representatives from advertising vehicle side. As a result, companies win a lot: they have internal specialist with good connections that leads to money saving. Besides, red meat of information is obtained immediately – you know, a master of information is a master of situation. A certain flexibility in decisions is obtained, financial flows go quicker.
Cooperation with external media buyers is winning as the companies can rely on big discounts obtained by a specialized agency from offered vehicle. These players can also have more information about new options. Times proved that better specialist generally work on companies dealing with external media buying.
Media buy, as a process, is quite long and complicated. It just seems that eating at fashionable restaurants is required – no one knows why, but newcomers often expect it to be so, however the reality is a bit severer: there is a lot of backstage preparation and planning job.