How to select the right media (how to create a media plan)?
How to select the right medium?
Each medium has its own advantages and disadvantages. Depending on the marketing goals some media are more suited than others as the infographic below tries to illustrate.
The best way to select the right media is to go through the following process:
- What is the exact marketing goal we try to achieve? Some media are better suited to reach certain goals than others as is depicted above.
- Who do we try to reach? What media are they using/reading? Trying to reach senior citizens using snapchat or school-going children via LinkedIn may not be the right match.
- What are the key campaign messages? The more complex the message, the more media rich the medium has to be. For example, Twitter is less suited to communicate the brand values of an expensive car than a TV or YouTube add.
- Where and when do you want to communicate the message? Especially traditional media require more time creating the message and planning it, while social media are excellent to communicate a marketing message fast.
An important aspect is of course also the business case of the medium. What medium delivers the best result with the lowest price? The way the medium is paid for is an important aspect (see also What commission models exist).
Calculating the expected result to compare the best medium helps making a rational choice.
How much media to buy?
Some media like search engine advertising allow companies to switch on the media spending themselves. In other cases media space has to be bought. The question then is how much to buy.
The best way to do this is to run scenario’s based on past experience (or best guesses):
- Let’s say that the marketing goal is to increase the market share of the company with 10%.
- The total market is 1.000 units sold per year.
- Getting 10% extra requires the company sells 100 additional units (assuming the market size remains the same).
- All products are ordered via the website (assuming 1 order is 1 product) and the current website conversion is 5%.
- To get 2.000 extra visitors, the marketing manager has decided to run a (old fashioned) banner campaign.
- The average click through ratio is 0,20%, meaning the banners have to be displayed 1 million times to realize the desired number of visitors and additional orders.
- On average € 0,50 has to be paid for 1.000 banner displays.
- To realize the target a marketing budget of € 500 is needed.