Traditional advertising channels no longer hold pole position. Today, companies must adeptly maneuver through a diverse realm of digital platforms, such as social media, streaming services, and beyond. Developing a winning media plan necessitates a strategic methodology that not only encompasses the extensive range of digital alternatives but also harmoniously incorporates them with conventional techniques.
Join us to unravel the secrets of successful media planning, as this blog delves into the intricacies of media planning in India, offering tailored insights and strategies for the dynamic digital industry to seasoned marketers aiming to enhance their approach or business owners striving to maximize their online presence.
The Current State of Digital Media in India
India has definitely entered the digital age, boasting a staggering 692.0 million internet users — nearly half its population — as of early 2023. There’s no stemming the social-media wave too. It consumed 467.0 million individuals in January of that year alone. The connectivity boom redefines advertising strategies, positioning digital media to contribute a significant 38% to India’s overall advertising industry.
How to Get Media Planning Right — Step-by-step
Step 1: Defining Campaign Goals and KPIs
To commence with media planning, one must outline the campaign objectives. These aims or targets are what you seek to attain through your promotional endeavours. Your aspirations should adhere to the SMART criteria (Specific, Measurable, Attainable, Relevant, and Timely) to provide lucidity and guidance for your media planning.
Examples of campaign objectives could include:
- Increase sales by 15% within the next quarter.
- Enhance brand notability for the female demographic aged 25-40 by a margin of 25% within six months.
- Generate 100 leads for a new product launch within the first month.
- Drive website traffic by 30% in the next three months.
- The company should venture into a new market and attain a 10% share within the following year.
After determining your campaign objectives, the subsequent task involves pinpointing the KPIs that will aid in assessing the triumph of your media strategizing endeavours.
Media planning utilizes various KPIs that differ among campaigns, based on their particular objectives and targets. Examples of frequently employed KPIs in this field are:
- Reach and frequency
- Click-through rate (CTR)
- Cost per thousand (CPM)
- Conversion rate
Step 2: Knowing Your Target Audience
Knowing your target demographic is crucial for a successful marketing endeavour. Without a clear understanding of who you are trying to reach, your message will fall flat and your media planning efforts will go to waste.
To understand your audience, consider following these guidelines:
- Conduct market research
- Create buyer personas
- Analyze competitors
- Utilize social media analytics
- Use market segmentation
It is important to note that audience preferences and behaviours may evolve over time. As individuals change, your target audience may also shift accordingly.
Step 3: Determining the Right Budget
Setting the right budget for your media plan is crucial as it dictates the reach and impact of your campaign. A too-small budget can limit your reach, while a too-large budget can result in wasted resources.
Strategically allocate your budget, considering the efficacy and relevance of different media platforms. Include expenses for producing compelling advertisements. Allocate funds for experimentation and improvement, allowing for timely adjustments throughout the campaign. Maintain a safety precaution for unforeseen circumstances or potential opportunities.
You can also consider the 70/30 rule when allocating funds: allocate 70% for media buying and 30% for creative development, exploration, and miscellaneous costs. Remember that this rule is not set in stone and can be adjusted based on your specific campaign goals.
Step 4: Exploring Various Ad Formats and Crafting Compelling Creatives
Exploring diverse ad formats facilitates the identification of those that deeply resonate with the intended audience and produce the desired outcomes, such as amplifying brand recognition through television ads that enable captivating visual and auditory storytelling, or targeting a younger demographic through social media ads, encompassing sponsored posts and influencer collaborations.
Craft creatives that stand out and drive results by exploring and selecting the appropriate ad formats for your campaign, and then creating compelling visuals that effectively convey your message to your audience, like:
- Attention-grabbing visuals and carousels
- Short-form videos
- Clear and concise messaging
Step 5: Implementing Forecasting Models
A forecasting model serves as a statistical instrument employed to anticipate forthcoming results by analyzing past data. Within the domain of media planning, these models aid marketers in gauging the influence of their advertising endeavours on diverse KPIs such as reach, frequency, conversions, and ROI.
Different forecasting models are available, including trend analysis, time series, and regression models. The selection of the model relies on the data you have and the particular goals of the media plan. For instance, if a firm plans to launch a new product and desires estimation for possible sales from ad expenditure, regression analysis can assist in predicting the likely result.
Overview of Programmatic Advertising in India
Advertising in a programmatic way, which is an up-to-date digital marketing plan, uses automation for buying and selling ad space instantly using algorithms with data-driven technology. In the year 2021, programmatic advertising in India saw a big increase. The spending reached close to $473 million. This was much higher compared to the amount spent on programmatic ads in 2017, which was around $85 million. This shows the fast acceptance and growth of this type of advertising within the Indian market.
Moreover, the report “The State of Programmatic in JAPAC 2022” provides insights that show a significant increase in programmatic investment and income across the Japan and Asia-Pacific (JAPAC) region. More than 70% of companies within this area have reported an increased activity in programmatic compared to last year. In this situation, India appears as a prominent country, where an astounding 90% of people indicate an increase in programmatic investments.
Wrapping Up — How Aroscop Can Help
Succeeding in the dynamic realm of digital media planning requires a strategic mix of precision and adaptability. Businesses achieve this by setting clear campaign goals, understanding target audiences, allocating budgets wisely, exploring various ad formats, and embracing forecasting models. These elements collectively pave the way for effective media planning.
Ready to elevate your brand to new heights? Aroscop, where creativity, innovation, and strategy converge, is your go-to expert in branding and marketing. Our team thrives on crafting powerful solutions that leave a lasting impact on your target audience. To get started, please contact us.