The Latest Media planning strategies in 2021
Written by Angel Mora
The moment you launched a new business, you assume that its success depends almost entirely on the marketing and advertising scheme around. But, learning to get the most out of the current commercial landscape and draw the attention of customers is not an easy task. And that what media planning comes to solve.
In this article, I will show you how to create your own recipe to develop resources from which to build an effective digital promotion strategy; adaptable to your business and that is capable of making a difference both in the short and on the long-term.
Let’s start by dissecting how the digital market works and its relation with offline businesses.
The purpose of media
Nowadays, companies don’t revolve around the idea of media planning activities as a strengthening complement for tangible operations out there. Instead, it is the digital component that works as the epicenter; in such a way that the valuable return on sales is transferred to the online presence and not the other way around.
On the other hand, we have been experiencing a social and economic shift that introduced favorable conditions to establish an austere market where there are only 2 extremes:
- Companies that manage to stay accessible and relevant, obtaining large revenues, and-
- Companies with a mediocre performance in digital media, doomed to disappear.
What truly separates successful labels from those that are not, is that the latter settle for having a website and a couple of social media profiles, improvising responses on the fly without even considering one ultimate goal.
According to data collected by HubSpot in January, media planning strategies have a direct impact on the total amount of sales, with 70% of marketers actively investing in this sector.
Meanwhile, big players know perfectly how to navigate the market and where their business opportunities are. Having said this, do you know where to find yours?
Take your company out of the pile
If you got here, that means you’re willing to do the hard work for your company to become an Internet and offline hit. Following this precept, before thinking about setting commercial goals to achieve, consider the state of your platform.
You might not count on the budget and reputation the top corporations hold. But what you do have in your favor is the fact that the chances of positioning are measured according to the effectiveness of the conveyed brand message — the ability to demonstrate the value your solution holds.
A recent study showed that the promotion strategies that appeal to create a social bond with the clientele present a success rate of 65% when compared to other modalities.
The message sent should launch a call-to-action to the potential clientele that will bring you closer to objectives that go beyond the mere sale.
Let me it expand on that:
You just came up with an amazing product along with a new catalog of services to launch to the market. But a quick Google search throws how there is an endless parade of brands with similar proposals trying to achieve the same. At that stage, the most reasonable response would be to do everything it takes to stand out.
However, it can be said that to a certain extent it is not about what you’re offering — which should always aim at the highest quality — but how the offer is presented to the public.
To find your focus on that matter, start by dividing your brand’s meta-purpose (selling your product/service) into smaller, easier-to-reach goals that, when combined, will also get the company to that sweet spot.
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Of course, these “mini-objectives” (that in actuality represent major achievements for any rising company) don’t just appear out of nowhere. They are supposed to respond to the behavior of the industry you’re going to follow up on via a market study.
Additionally, while the KPIs depend on the nature of your business and industry, you can use a standard situation analysis, and it usually contemplates 3 fundamental aspects:
- Traffic to your website and level of engagement: It is the most accurate way to know what the public thinks about your business.
- Consumer behaviors in your target market: Sales spikes and the number of searches related to some keywords are great samples of the role your campaign has within the public as well as the needs in the sector.
- Digital competition management and product catalog: Knowing their strategies and messages will help you distance yourself from their approach and avoid common mistakes.
If you have enough time, give it a try to individually analyze each point by searching to then collect all information in a spreadsheet. For example, you can create different company listings, number of visits, quarterly sales, number of positive and negative mentions, among other indicators.
But, to ease the task, I recommend relying on automated tools such as Google Analytics and Matomo, which generate detailed reports as well as approaches that can help you a lot when anticipating actions from rival companies.
According to Google records, there are currently 3,715,297 companies actively using their measurement services – the majority of them based in the U.S.
Likewise, once finished, take the time to interpret the data and find what the most realistic objectives for your brand would be, such as triple current visits to your website, collect some monthly subscriptions to your virtual store, getting 2,000 followers monthly, etc.
Consequently, what you want to convey about your brand through the campaign has to comply with these objectives. But things don’t end here, because now is the time to talk about massification.
Designing your distribution plan
More practically, the development of any media plan goes through mandatory stages of discovery on issues related to the public and the company itself. These are broken down into 5 different steps:
- Margin of action
It is a common mistake to think that when we talk about the target audience we are only referring to a minimum proportion of an entire niche. However, media planning has a much broader scope to tackle in the convenience of:
- Clients: This group is comprised of the people with which there has already been a commercial exchange. If your fledgling company is the second phase of a previous local business, its clientele can be re-engaged.
- Potential clients: They represent your buyer persona. The sector of the population, which according to their age and interests, are statistically more likely to find a solution to their problem in your product or service – but they could still a big convincing effort.
- Collaborators: Yes. You’re not only trying to get to consumers but also entities and platforms that may be a good addition or find in yours an initiative worthy of commenting.
- Media: The most prestigious opinion online. A good campaign can get you a headline or a mention on a media outlet like Forbes or Entrepreneur with millions of followers around them.
- Influencers: Needless to say that having the approval of experts or celebrities within a certain category can translate into giving major exposure to your company and conquering a portion of the market.
- Communication routes
That promising media campaign your planning can lose all of its effectiveness if it is placed on the wrong online spaces. In order to avoid that, be sure to define the better channels to be present in, since they will have a direct influence on the loyalty and the purchase decision levels collected.
There is a wide variety of means by which to get the campaign across. The new division takes into account the creative economy, a higher ROI, and whether a considerable portion of the target audience is present in these channels or not.
To trace your route, follow the 3 media principles:
- Owned media: These channels (websites, corporate blogs, and social media profiles) are your starting point as they are the ones you have complete control of and do not (necessarily) involve any type of investment. However, its primary function is to be the meeting point for the other media.
- Paid media: For advertising activities, they make the most immediate contact tool; ranging from an ad in search results to a skippable video on Youtube. These should be used in a timely manner only to reinforce organic outcomes.
- Earned Media: They come from the reaction of media platforms and users to Owned Media and Paid Media actions. This response, in turn, can be used as part of the campaign to enhance the visibility and credibility to the initial message (i.e. Press coverage and social media posts about the Gillette campaign against toxic masculinity).
- The packaging of the message
On the other hand, you need to establish a strategy regarding formats. Find those that best suit your goals and budget. Keep in mind that the ones that require a greater investment and imply a more complex composition, are the most expensive, but in that aspect creativity always wins.
The formats you have at your disposal are:
Text and Image: This is most used on platforms such as Twitter, Quora, or Linkedin. In an Instagram survey, 66% of users stated they have been influenced to buy a product after seeing it in a post on the social network.
Video: The most popular bet since 2018 is supported by 52% of brand leaders who claim it represents the largest portion of their campaign revenue.
Audio: Although it is not among the favorites yet, formats such as podcasts on Apple Music and Spotify are taking more and more of the market, receiving a 20% investment from companies.
The start date and subsequent periodicity of each campaign are very important aspects to consider because they have the power to boost the media coverage based on variables such as rotation seasons and traditional holidays.
It is also important that you leave a margin of flexibility to include or adapt to events of global importance. The purpose is to achieve the highest possible level of engagement and return.
For example, here at Media Coverage, I recommend to our clients of the goods and services an intermediate posting and placing frequency, whereas the ads usually perform better after 1:00 pm.
All the previous takes must be followed by measuring activities, which will show the figures obtained from the campaigns.
Among the most common indicators to review in terms of advertising are impressions (total audience impacted) and CPC (cost per click). Meanwhile, for media marketing strategies we find the CPL (Cost per Lead), Traffic-to-Lead Ratio, and Organic Traffic, among others.
If you ask me, it will be better to perform an analysis per channel because it provides a much more accurate reading than just paying attention to the number of impressions, since companies often make connections that require a waiting period to be reflected in sales and service acquisitions.
At the same time, you must contrast it with the broader media planning objectives. This way you can calibrate or discard campaigns that have not obtained the desired results.
I hope you have found in my 5-step proposal that every media planning strategy should have, a very helpful guide for your journey; and that from now on you can create your marketing path taking into account each of the steps mentioned.
Although I did my best to be explicit, if it is your first foray into e-commerce, feel free to skip some steps that you consider unnecessary but only if the things you are looking for are simplicity and practicality. Yet, keep in mind that before any action there must be a study and a scheme. That way I guarantee you will achieve even more.
Also, if you have any questions or want to rely on a professional team, you can contact us or go to the “Pricing” section, where we explore the media packages we offer to our clients and what may interest you to start climbing positions in search engines and increase sales.
Remember that we are constantly creating new content with tips to position your company in 2020.