Posts Tagged ‘ Kerri Byrd ’

What to Know About an Annual Media Buy

When attempting to take your media in-house or when offering media services for others, it’s important to know that media can be purchased in several ways, such as by flight, monthly, quarterly or annually. The trick to being a successful media planner and buyer is knowing which structure works best for you and your clients.

A flight can be from a short as one week to as long as several months. It is a continuous buy, which usually serves to bring attention to one specific promotion.

The structures for buying media on a monthly, quarterly, and/or annual basis are pretty simple – as they follow the standard definition of the time lapses listed above. Though you have to choose which structure is right for you, an annual buy, which is achieved by the media buyer placing the entire annual media plan at once, does have advantages over buying monthly, quarterly or by flight.

Listed below are the top 5 things you need to know about an annual media buy:
An annual buy will definitely give a buyer leverage to get the best rates, especially with television, cable and radio buys.
Due to the volume of the buy, the rates will be more negotiable and generally lower than if placed monthly, quarterly or by flight.
The closer the media buyer is to the beginning of the schedule when placing the buy, the higher the rates will likely be. If the media is sold out, the rates may need to be high enough to bump another advertiser’s spots.  At times, it may be so close to the flight that the station does not have any space available to sell. Neither of these situations is in the best interest of the client.
With print, if you know what you’ll be spending within the year, a media buyer can usually negotiate a contract to buy a certain number of column inches or spend a certain amount of money. This is harder to do if the buy is not purchased annually, as there can be short rates if the contract isn’t met. This isn’t good for either the agency or the client.
Annual buys can always be adjusted, moved and or canceled if necessary with sufficient notice to the media vendors, so you will not be locked into any media that isn’t working for you. Media can constantly be adjusted to give your clients the best outcome possible.

Annual buying is great for many clients, and with its adjustability, you’re really in a win-win situation. Not only do you get the best deals for being prepared and coming to your rep with a well-thought out plan, but you also get flexibility in order to meet your client’s needs.

With our ever-changing marketplace accelerating at such a rapid pace, new tools, trends and types of marketing are being introduced every day. Due to this fast-paced way of life, many believe that you should steer clear of annual buys – because you never know when something will change. Not true.

Annual buys can be bought in a way that is adjustable, allowing you to bump up or bump back spots, make changes to material, swap your :30 radio spot with a :60, etc. – you just have to know what you’re doing.

As we have seen lately in the marketplace, sometimes there are other situations with annual buys that need to be addressed, such as the programming change that moved American Idol from airing on Tuesdays and Wednesdays to airing Wednesdays and Thursdays. If you bought a good spot on Thursday during a popular show with a competing station – and now because of a programming change, you have to compete with American Idol – there would be a problem. This is when you contact your rep and discuss your options. By doing so, you’ll learn just how well your leveraged your annual buy in the first place.

Media planning and buying are complicated processes, so before beginning a plan, make sure to do your research on the different buy structures. If you need guidance, feel free to contact evok advertising at 407.302.4416.

The Benefits of Utilizing a Newspaper Buying Network

Say you’ve got a client that puts out tons of newspaper ads, in tons of markets, like every time you blink they have a new ad, just ready to be sent out. As a media buyer and planner, it’s your job to figure out the best and most efficient way to make large media buys across all selected markets. With a busy, often changing schedule, how do you keep all the pricing straight, the market research on point, and get copies of all the tear sheets to show to your client?

By hoping and praying? Calling every ad sales team in the nation? We think not.

If you have a client for whom you purchase multiple newspapers in multiple markets, you many want to consider utilizing a newspaper-buying network to help. There are actually several, including the Newspaper National Network, the Florida Press Service and others, like Valassis.

Some media buyers and planners choose to deal with every paper individually, and this is fine, as it is part of maintaining relationships and is ideal for particular clients. But, if you have either a huge multi-market client and/or a modest media buying department, the services that these buying groups provide can be invaluable.

Benefits of newspaper buying services:

  1. Saving time – and we all know time is money.  With a newspaper buying service, a media buyer/planner only has one point of contact instead of a contact at every newspaper. They now have more time to spend on the strategy of the media plan…or with other clients, for shame.
  2. Coordination of the details – These services not only will research and negotiate media, but will also provide circulation numbers, mechanical specs and space and material close dates.
  3. Accounting savings – There is typically only one insertion order and therefore only one vendor invoice, saving time in accounting. And, in the end, there’s only one check to mail out.
  4. Proof of performance – The newspaper buying service also tracks all the proof of performance so no more tracking down tear sheets or going at a six-foot pile of newspapers with scissors and a dream.
  5. One point of contact – With a buying service, it’s easy to make last minute changes to the buys/plans. Usually, it is one phone call or email vs. one call or email per paper.

While utilizing newspaper buying networks may not be feasible for every client, it is an option to consider for clients with larger newspaper buys that are trying to target a number of markets and because of their buying power negotiated rates, it typically is not at any additional costs to your agency.  Win. Win. Win.