A media plan is a perfect guide to choosing the media that is most suitable to your business. One should use the right process and strategy to develop the best
Media Planning Process and Strategy
So basically every business is being done online. As a business owner, however, you will be required to take a further step and use a certain type of media for marketing your business. Using media to advertise however involves setting a plan, weighing options and making the right choice on which media platform is best for your business. Selecting a media plan/ advertising plan is the process of selecting the most cost-friendly media platform for promoting to attain the required exposure and the amount of coverage in a target audience.
A comprehensive media plan involves four main steps:
a) Stating the media objectives– these should lean on what your reach should be like, the number of times that the target audiences gets the message, and the media assertions timing.
b) Evaluating media– the strategy is to look at the advantages and disadvantages of each media platform, weighing the options and choosing the best.
c) Choosing and implementing media choices– this step is guided by the budget, and also the options available in the various media houses.
d) Determining the budget– this cannot be emphasized enough. A business should use the media that FITS their budget. You should never overstretch your business assets to advertise and go broke in the process. Choose what you can afford for the time being.
Sample Media Plan for Company Y
Company Overview
Company Y water bottle Company, a leading water bottle manufacturing company strives to provide the best designs of water bottles that are not only attractive, but also durable. This part presents a media plan for the company, which Company Y might use to improve on the knowledge and create awareness of the product. The plan comprises of a MRI Analysis that looks into the target market, household income and promotional devices. It further outline an estimated media allocation budget.
MRI Analysis
| Target market | All ages |
| Household income | $50,000- $70,000 |
| Television | Cable |
| Internet | Social Media SitesEmail- Marketing |
| other advertising channels | Fitness and Parents Magazine |
Target audience
Company Y being a water bottle company, it strives to provide the best water bottles to its clients in an endeavor to encourage a healthy population. Its target consumer therefore is everyone who values healthy living, from infants to youths, to the old generation.
Media objectives and strategies
One objective of a media plan is engaging the consumers and allowing them to interrelate with Company Y’s brand and help model which will serve to encourage the brand loyalty so as to create awareness. The second is to employ a multidimensional media approach that will not only maintain the existing clients, but also get new ones. The plan strategizes on firstly, utilizing an online and in store tactics while pursuing the purchasing customers eventually encouraging further usage. Secondly, it focuses on motivating purchase and usage particularly during the off-peak, and exploiting on social events and offices.
Estimated Media Allocation Budget
| Television1 month subscription to 2 channels | $400,000 | |
| MagazineFamily-Fun magazine(half page color)Parents Magazine(half page color) | $98,500 $110,000 | |
| InternetBanner Advertisements | $200,000 | |
| In-storeDisplays/ Coupon | $191000 | |
| Total Budget | $999,500 | |
Media Plan Recommendations
The target includes an eclectic mix of ideal cable television networks, so it is important that ads are placed on two major television networks. To improve the coverage the ad ought to be aired during entertainment news, and popular talk shows, especially those involving fitness. The stations selection would be based on their high stable bases and indices. The internet will play a huge role in creating awareness about the products, particularly in meeting the company’s objective of customer- brand interaction.
The in-store plan will involve creating a floor graphic in the retail stores. The floor will bear a resemblance to a road of Company Y heading to chip aisle. This will be purposely to draw the attention of passers-by and prospective customers. The choice of magazine; parent magazine and family-fun magazine is so because their readership is wide. The readers are also within the target market especially the family-fun which covers issues related to both young people and adult.
Conclusion
Centered on an breakdown of the target consumer and understandings into the seasonality of the product, A strong media plan has been created that stays spot-on to the company’s original aims of engaging the clients by letting them interrelate with the product and help profile promotions, which will hearten a sense of loyalty to the brand loyalty. The estimated budget allocation serves as a guideline for the company to stick to the budget.
The media planning process and strategy is a step towards achieving your desired purpose of reaching your target audience in the most effective and budget-friendly way possible. You can use the above sample as a guide to write a plan that suits your business.