Stop Paying Sticker Price for Media to Improve ROI

The Evolution of Media Buying: From Sticker Price to Smart Strategies

The landscape of media buying has transformed dramatically over the years. Traditionally, businesses would purchase media at face value, paying the "sticker price" without much room for negotiation. However, as digital transformation, big data and analytics, and automated bidding have evolved, media buyers have gained the ability to be more strategic and cost-efficient.

Today, successful marketers understand the stated price doesn’t mean that’s the price you should pay. Businesses that take a proactive approach to media buying can avoid overpaying and ensure their campaigns generate the highest possible return on investment (ROI).

So, how can your business ensure it’s getting the best deal and not overpaying for media? The key lies in three core principles: planning ahead, leveraging available resources, and understanding modern media buying strategies.

1. Plan Ahead to Avoid Paying a Premium

Last-minute media purchases can be costly. If you’re buying ad space or placements on short notice, you’re more likely to pay a premium. Instead, plan your media buys well in advance to secure better rates and premium inventory.

Best Practices for Planning

• Understand Seasonal Trends: Media costs fluctuate based on demand. The holiday season, major events, and election cycles are just few examples of influences on pricing. If you plan ahead, you put yourself in a better position to secure better rates or more advantageous placements before the demand spikes.
• Negotiate Long-Term Deals: Certain media vendors offer discounts for long-term commitments. There are various approaches to this including fully committing to a quarterly or annual contract, or indication of intent without the requirements of a non-cancellable contract.
• Optimize Your Media Mix: By planning in advance, you can strategically allocate your budget across multiple channels to ensure cost efficiency through varying demand cycles within media channels and your customers.

2. Use Your resources wisely

Many businesses overlook the resources available to them that can help drive down media costs. Whether it’s leveraging existing relationships, using technology, or working with an experienced media agency, there are many ways to ensure you’re getting the best value.

Ways to Maximize Your Resources

• Leverage Your Data: Use your performance insights to negotiate better deals with media partners. It may surprise you how many are receptive to performance feedback from advertisers and will try to keep and grow your investment in their marketplace.
• Utilize Programmatic Buying: Automated, data-driven media buying ensures that you’re only bidding for inventory that meets your campaign’s specific objectives. This approach to buying has seen consistent evolution in both the buying and optimization steps, leading to better ROI.
• Partner with an Experienced Media Agency: Agencies often have long-standing relationships with media vendors, giving them leverage to negotiate better rates and added value opportunities. In addition, agency teams typically have a higher level of exposure to a diverse set of industries and buying techniques, directly benefiting you as their client.

3. understand modern media buying tactics

To avoid paying sticker price, businesses need to embrace the latest strategies in media buying. Modern tactics allow brands to optimize media spending while ensuring maximum impact.

Strategies to Consider

• Audience-First Buying: Instead of purchasing media based on content, prioritize audience insights. Target consumers where they are most engaged, regardless of the medium.
• Remnant and Opportunistic Buys: Many media outlets have unsold inventory, which they offer at a discount. Be flexible and take advantage of these opportunities.
• Cross-Channel Measurement: Understanding how your customer engages with different channels throughout their journey can offer a new perspective on channel performance and lead to a shift in media strategy with better long-term returns.
• Test and Learn Approach: Regularly experiment with different approaches and pricing models (e.g., audience-first, content-first) to identify the best ROI-driving tactics.

The Bottom Line: Be Strategic, Not Reactive

Businesses that take a proactive and strategic approach to media buying will always have a competitive edge. By planning ahead, using available resources, and implementing modern media buying tactics, you can avoid paying sticker price and significantly improve the ROI of your marketing campaigns.

At Media Culture, we specialize in crafting efficient, results-driven media strategies tailored to your business needs. Contact us today to learn how we can help you maximize your marketing budget and improve your media investment strategy.