5 Components To Developing A Strong Media Strategy
The effective use of media, whether it be traditional or digital, is one of marketing’s most powerful communication tools. But before you place the first ad or generate the next click, it is important to have a well-developed media strategy. Without one, you are risking off target creative, messaging and implementation.
A media strategy starts with building clarity about what you want to achieve. Is it building brand awareness, fighting off a competitor or increasing profits? Your goals will determine your approach to media, so its important to accurately define your purpose and keep your targets in mind. Being planful allows you to develop a thorough and specific media plan with distinct timelines and distinct forms of media—TV, radio, print, podcast, website, social, etc.— to help you reach your business objectives.
As you think of your next media plan, consider these five key components:
Identify Your Target Market: Research and get a good understanding of your target audience. The more you know, the more effective your media strategy. Identify your market, where and how they spend their time, and the media and messaging to most effectively reach them.
Set Measurable Objectives and Goals: Keep your overall marketing objective and goals in mind during the strategy creation process. These must be measurable and specific. While a goal of “Make more money” can be measured, the goal of “Increase profits by 20% by Q3” is much more specific and offers a way to create a more accountable timeline.
Determine Your Marketing Budget: Knowing your marketing budget is an important part of your media strategy. Having a set budget encourages you to think each tactic through and be more creative in your problem solving.
Craft Your Message: Define your marketing proposition on how your business can solve a customer need or problem. Base your message on your market research on what appeals to your target audience. You can have different messages for different objectives, all tying into one theme. Remember to include a call-to-action.
Learn From Your Results: The most effective media strategies evolve over time. You can learn from a strategy that may not have had the expected business results and modify and improve on subsequent launches.
A well-formed media strategy plays a critical role in achieving your marketing goals. Taking the time on the front end to craft, analyze and question each component of your media plan will give you confidence in its execution and results.