Media Planning is an underrated part of a digital marketing campaign. While it forms the foundation of any digital marketing strategy, it is often overlooked in digital marketing training. You must know what you invest, where you invest, and the projected returns. In short, numbers are equally important to creativity in digital marketing. In this article, we discuss the basics of media planning, why is it important, how to calculate return on investment, and much more.
What is Media Planning?
Media planning is an important aspect of advertising. It involves the process of deciding where and how to spend advertising dollars. Media planning is often confused with performance marketing but with expertise in digital marketing, you will know the difference between the two.
It includes –
- Awareness: building a brand’s awareness in the marketplace.
- Reach: ensuring that your brand is seen by as many people as possible.
- Building the right message: choosing words and images that are most likely to appeal to your target audience, and using them in ways that will be most effective at reaching them.
- Effective frequency: ensuring that your ads are seen often enough to make a difference, but not so often that they become annoying or ineffective.
How to Develop a Media Plan for Your Digital Marketing Campaign?
Media planning is an important part of any marketing strategy. It helps in setting up a campaign with specific goals and objectives in mind. It also allows companies to analyze market trends and make informed decisions about their marketing strategies.
Media planning helps companies set up campaigns that are more effective with higher ROI.
Media planning is the process of defining and executing a plan for how your message will reach a target audience. It is an integral part of any successful marketing campaign, and it can be done in-house or outsourced to a specialist agency. A media plan includes:
-Which media are you targeting?
-How often will your message be delivered?
-What will the message be about?
-How big of an audience do you want to reach?
A media plan is a first and most important step in creating a successful marketing campaign. It sets the baseline for what your campaign should look like, so you can start building off of it. During a media plan, you’ll discover the different ways to get your message and product in front of your target audience. You’ll also identify the different outlets that are likely to pick up on your campaign and the channels they tend to use.
Understanding the Purpose of Each Channel and How It Fits Into Your Goal?
Knowing the purpose of each channel and how it fits into your goal is crucial to creating a successful media plan.
Understanding what channels you want to use, what they need, and their purpose will help you create a successful media plan.
The goal of a media plan is to determine how well your content will resonate with your target audience. There are three channels: paid, owned, and earned.
Paid: This is the most common channel where you create content and sell it to advertisers. Paid media is a major marketing tool that can be used to reach out to your desired audience.
The paid media industry is booming with a lot of opportunities and challenges. With the rise of digital marketing, there has been an increase in the number of ad channels that are available. It is important to understand how each channel works and what the best ways are to use them for your business.
Paid media can be used as a great tool for building brand awareness, creating leads, or driving conversions through your website. However, it is important for businesses to understand where their money goes when they invest in paid media campaigns.
Owned: This is where you use your own website or blog as the platform for creating content and selling it to advertisers.
Owned media is a term used to refer to any type of content that is produced by an organization – whether it be digital, print or any other form. It can also include advertising campaigns that are created by an organization.
The importance of owned media has increased significantly over time. It plays a crucial role in building brand awareness and reputation for organizations.
Earned: This is where you partner with influencers or brands to create content that they can then sell on their social media channels.
The term “earned media” is used to describe the type of media that a company creates and/or generates. It is created when the company puts in a lot of effort and resources to build trust with the audience.
There are many ways to earn earned media, including:
– Social Media Engagement: Engaging with your audience on social media platforms can help you develop a relationship with them, which will increase the likelihood of them trusting your brand or product.
– Content Marketing: Creating content that targets your target audience will allow you to develop a relationship with them and create trust in your brand or product.
– Influencer Marketing: Influencers can be an effective way to reach out to consumers who are highly engaged in certain topics, such as fashion or food.
How to Calculate Your Return on Investment for Each Channel?
The return on investment is a metric that businesses use to measure the effectiveness of their digital marketing campaigns. It is used in order to calculate how much money is gained by investing in a particular channel. In order to calculate your ROI for each channel, you need to know the following:
- Cost of advertising in that channel
- Revenue generated by that channel
- Average cost per customer acquired through that channel
- Number of customers acquired through that channel
- Number of customers retained through that channel
- Cost of customer acquisition
Media Planning forms an important aspect of a digital marketing strategy hence learning it is crucial if you want to make a career in digital marketing. Hope that you found this article informative and insightful!
Founder and CEO at IIDE
Apart from being an Edu-Preneur, Tedx Speaker and a Black Coffee connoisseur, Karan Shah is also the founder of IIDE- The Digital School.
A Harvard alumnus, Karan’s expertise lies in digital marketing and Ecommerce. A storyteller at heart, he has penned plenty of articles in leading news portals such as Entrepreneur, BusinessWorld, Education Times, and Youth Magazine to name a few.
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