Are you struggling with Digital Media Buying? You won’t anymore when you’re done with this blog. Media buying has now become one of the most crucial processes in Advertising. Long ago all of this happened offline and we called it just plain and simple,” Media Buying”. However with the digital marketing revolution and we now have digital media buying. Digital media is a simple yet complicated process to execute. But don’t worry. In this article, we’ll understand the working of media buying and how you can use it efficiently.
What Is Digital Media Buying?
Digital Media Buying is the process of buying ad spaces on the internet. Advertisers execute the media buying process to publish their ads on various ad spaces all over the relevant websites. However, there are several other things that come into the picture in the media buying process.
The Digital Media Buying Process
The process of digital media buying involves Real-Time bidding. Real-time bidding refers to the process of bidding on ad spaces on various media buying platforms by the advertisers to publish their ads. Nevertheless, the ones with the highest bids usually get the ad space. And what is surprising is that all of this happens within the span of a few seconds.
Let’s take a close look into the 5 parties involved in the Digital media buying process.
The advertiser is the brand that wants to buy the ad spaces. They buy these spaces in an attempt to advertise their products and services on relevant websites and platforms. Evidently, these advertisers keep a close eye on the Demand-side platforms and wait for the right time to bid on the ad spaces that they find the most suitable for their brand.
Demand Side Platforms
Advertisers commonly use demand-side platforms to manage the process of real-time bidding and placing ads on the most relevant ad spaces to ensure the content is reaching the brand’s specific target audience. The best part about using these platforms is that they allow you to buy ad spaces on ad exchanges that aren’t accessible with Google Ads.
The publishers are the people or companies that own ad spaces on various platforms. Therefore, they sell these ad spaces to relevant advertisers in exchange for bids. Evidently, the publishers sell the best ad spaces available on the internet to make sure they get the most bids from the advertisers looking to buy and attract more and more potential customers.
Ad exchanges work kind of similar to stock exchanges. The difference is that here instead of stocks, ads and ad spaces are bought and sold. The publishers offer the ad spaces available and the advertisers bid on these ad spaces based on their brands and their target audience.
The Supply Side Platforms
A supply-side platform is used by ad publishers for the same reasons the demand-side platform is used by advertisers. Consequently, the publishers are able to offer ad spaces on their websites and other relevant platforms for advertisers to bid on with the help of supply-side platforms.
These are the 5 parties involved in the process of digital media buying and now that you know how the process works and who is involved in it, you can simply log on to digital media buying platforms and buy or sell ad spaces to grow your business in 2021. However, for information on the 7 steps to an effective media buying process, check this out.