Media Buying Services
A media buying service, sometimes referred to as a media buying agency, is responsible for purchasing ad space and time for running advertisements. With media planning and buying, a media buyer must evaluate media reach, station formats and pricing rates, plus demographics and psychographics relating to the advertiser's marketing objectives.
Media Buyers and Media Planners
Media buyers work with media planners to make the best purchase decisions. The difference between the two is that media planners select media to meet a client's marketing goals, while media buyers negotiate the best media rates and purchase the media.
A media buyer researches the intended target audience and determines what mediums will be most effective in reaching the largest amount of potential customers. Media buyers also make use of product positioning by choosing the right place within the media for your message to appear.
Media Buying Options
A media buying agency has a vast array of media to choose from, including traditional media, like radio, TV, magazines, newspapers, and out of home, and new media, which includes cable TV, Satellite radio, and the Internet.
Media buying agencies are similar to advertising agencies, but do not offer any creative or non-media marketing strategic services. Full service advertising agencies, also offer media buying and planning through in-house media buying departments.
Media Buying Costs
Media buying services earn their income in three ways: through commissions, typically 15% of each buy, by purchasing large blocks of media and reselling it, or by charging a retainer or hourly fee, though this is less common.