Media Strategy Meaning, Need for Media Strategy, Situation Analysis for Media Strategy and its Components

Media strategy, as used in the advertising or content delivery (online broadcasting) industries, is concerned with how messages will be delivered to consumers or niche markets. It involves: identifying the characteristics of the target audience or market, who should receive messages and defining the characteristics of the media that will be used for the delivery of the messages, with the intent being to influence the behavior of the target audience or market pertinent to the initial brief. Examples of such strategies today have revolved around an Integrated Marketing Communications approach whereby multiple channels of media are used i.e. advertising, public relations, events, direct response media, etc.

This concept has been used among proponents of entertainment-education programming where pro-social messages are embedded into dramatic episodic programs to change the audiences attitudes and behaviors in such areas as family planning, literacy, nutrition, smoking, etc.

• Where is the place for showing or delivering advertisement. In short it means the geographical area from where it should be visible to the customers who use or are most likely to use the product or services offered. The place does not mean only TV or radio but it can also be newspapers, blogs, sponsorships, hoardings on roads, ads in the movie break in theatres, etc. The area varies from place to place like it can be on national basis, state basis and for local brands it can be on city basis.
• When is the timing to show or run advertisement. For e.g. you cannot show a raincoat ad in the winter season but you need to telecast ad as soon as the summer season is coming to an end and rainy season is just about to begin. The ad should be delivered with perfect timing when most customers are like to buy the product. The planners need to plan it keeping the budget in mind as the maximum of 20% of revenues of the company can be used in the advertisement section. Different products have different time length for advertisements. Some products need year long ads as they have nothing to do with seasonal variations e.g. small things like biscuits, soaps, pens, etc and big services like vehicle insurance, refrigerators, etc. Some products need for three or four months. E.g. umbrellas, cold creams, etc. So the planners have to plan the budget according to the time length so that there is no short of money at any time in this process.

There are basically two media approaches to choose from.

• Media Concentration approach
• Media Dispersion Approach

In media concentration approach, the number of categories of media is less. The money is spent on concentrating on only few media types say two or three. This approach is generally used for those companies who are not very confident and have to share the place with the other competitors. They don’t want anyone to get confused with their brand name so this is the safest approach as the message reaches the target consumers.

In media dispersion approach, there are a greater number of categories of media used to advertise. This approach is considered and practiced by only those people who know that a single or two types of media will not reach their target. They place their product ads in many categories like TV, radio, internet, distributing pamphlets, sending messages to mobiles, etc.

Selection of Media Category

Whichever category is selected by the planners of the organization, they should select a proper media to convey their message.

If the product is for a big amount of customers then a mass media option can be selected like TV, radio or newspaper. The best examples for this type are detergent ads, children health drinks and major regular used products such as soap, shampoo, toothpastes etc.

If the planners want to change the mind of people doing window shopping or just doing shopping for sake of name, then point of purchase type can be opted by the company. This helps the company to explain their point to the buyers and convince the buyers to go for their product.

If the planners want to sell their product on one to one basis, then the third option is direct response type. Here, the company people directly contact the customers via emails, text messages, phone calls or meeting for giving demos. The best example of this type of media is the Life cell Cord Blood Banking. They go to their customers, explain them what it is all about and try to convince them.

Thus, this process of media strategy plays an important and vital role in the field of Advertising.

Types of media strategies

Understanding the different types of media strategy is key when deciding which one to implement to achieve your desired outcome. The following are the primary types of media strategies:

Media concentration strategy

A media concentration strategy is an approach that focuses only on a select few types of media to reach a distinct target audience. Whereas some other media strategies incorporate the use of several media types, a media concentration approach narrows down the types of media used based on a specific target audience’s trend. For example, a company may choose to only advertise or market on a specific social media platform rather than divvying up its resources to market on multiple social media platforms.

This type of strategy is ideal for companies that only want to attract a particular audience rather than a broader customer base. For example, a company that makes pool tables likely doesn’t want to market to a broad audience as many people aren’t in the market for purchasing a pool table. So, the company is more likely to use a media concentration strategy to reach a select group of consumers the company knows is interested in purchasing this type of product.

Media dispersion strategy

A media dispersion strategy is an approach that uses a large variety of media types to reach a broad audience. This approach is most frequently used when a company’s target audience can’t be reached by marketing on only a few media platforms. A company using a media dispersion approach may place advertisements in several different media categories such as radio, social media, television and search engines. Using this strategy allows a business to reach a mass audience that may or may not be interested in its goods or services.

Earned media strategy

An earned media strategy refers to a marketing and advertising approach that aims to gain media or publicity organically. This is considered one of the best types of media strategies because it requires no payment or commission and is generated by a third party. Earned media strategies work because they increase trust in a brand or company through the promotion of that brand or company by others or third-party credibility. For example, a customer is more likely to purchase a product they see their favorite social media influencer using than they are a product they see a paid ad for.

Paid media strategy

A paid media strategy refers to a media approach in which the company promotes its content, services or goods through paid advertisements. These paid ads can be placed on various platforms, including social media, TV and radio. For example, pay-per-click advertising is a type of paid media that charges the company a small fee every time a user clicks on its ad.

Other examples of paid media include:

• Paid ad placements
• Branded content
• Display ads
• Influencer collaborations

Owned media strategy

An owned media strategy refers to an approach in which a company uses its own media to advertise or market its products or services. For example, posting information about an upcoming product launch on your company’s blog is a type of owned media strategy. Owned media is any online property that is owned by the company or brand. Examples of owned media include social media platforms, websites and blogs. Having more owned media channels allows a company to have a larger digital footprint and reach more potential customers.

Need for Media Strategy

Definition of the target audience. An insufficiently thorough approach to this stage threatens the failure of the entire advertising campaign. The target audience should be determined very accurately. It depends on how effective the tactics of action will be. And additional differentiation of the target audience into target groups will help to direct the advertising campaign even more precisely.

Analysis. At this stage, competitor strategies, market conditions and consumer behavior are analyzed. However, it should be understood that it is not always possible to obtain such information. Sometimes it’s extremely difficult to guess how a competitor or a consumer acts. As a result, either an incomplete or a not entirely relevant picture is formed. But research in this area allows you to adjust the media strategy taking into account the behavior of the main players in the market.

The place of the advertising campaign, or the choice of communication channels. The choice of a communication channel for an advertising should take into account the following factors:

• Weaknesses and strengths of a particular channel;
• Possibilities of a communication channel for solving tasks;
• Features and specifics of the promoted product or service;
• Budget size.

It’s not easy to choose from the variety of channels those that most closely meet your goal. For this, there is not always all the necessary data.

Budget management for the implementation of the media strategy. The formation of a media strategy should be built in strict accordance with the funds allocated for promotion. In this case, it is necessary to select from possible methods those that are able to convey information to consumers most effectively. Media strategy should be part of the brand’s overall communication strategy.

Situation Analysis for Media Strategy and its Components

The definition of a situation analysis refers to a set of methods that marketing managers use to analyze a company’s internal and external environment to understand the organization’s capabilities, customers, and business environment.

Your marketing plan is critical and the importance of situational analysis in your marketing plan is paramount.

Situation analysis refers to a collection of methods that managers use to analyze an organization’s internal and external environment to understand the organization’s capabilities, customers, and business environment. The situation analysis consists of several methods of analysis: The 5Cs Analysis, SWOT analysis and Porter five forces analysis. A Marketing Plan is created to guide businesses on how to communicate the benefits of their products to the needs of potential customer. The situation analysis is the second step in the marketing plan and is a critical step in establishing a long term relationship with customers.

Marketing Plan

• Introduction
• Situation analysis
• Objectives
• Budgeting
• Strategy
• Execution
• Evaluation

5C Analysis

While a situation analysis is often referred to as the “3C analysis“, the extension to the 5c analysis has allowed businesses to gain more information on the internal, macro-environmental and micro-environmental factors within the environment. The 5C analysis is considered the most useful and common way to analyze the market environment, because of the extensive information it provides.

Company

The company analysis involves evaluation of the company’s objectives, strategy, and capabilities. These indicate to an organization the strength of the business model, whether there are areas for improvement, and how well an organization fits the external environment.

• Goals & Objectives: An analysis on the mission of the business, the industry of the business and the stated goals required to achieve the mission.
• Position: An analysis on the Marketing strategy and the Marketing mix.
• Performance: An analysis on how effective the business is achieving their stated mission and goals.
• Product line: An analysis on the products manufactured by the business and how successful it is in the market.

Competitors

The competitor analysis takes into consideration the competitors position within the industry and the potential threat it may pose to other businesses. The main purpose of the competitor analysis is for businesses to analyze a competitor’s current and potential nature and capabilities so they can prepare against competition. The competitor analysis looks at the following criteria:

• Identify competitors: Businesses must be able to identify competitors within their industry. Identifying whether competitors provide the same services or products to the same customer base is useful in gaining knowledge of direct competitors. Both direct and indirect competitors must be identified, as well as potential future competitors.
• Assessment of competitors: The competitor analysis looks at competitor goals, mission, strategies and resources. This supports a thorough comparison of goals and strategies of competitors and the organization.
• Predict future initiatives of competitors: An early insight into the potential activity of a competitor helps a company prepare against competition.

Customers

Customer analysis can be vast and complicated. Some of the important areas that a company analyzes includes:

Demographics

• Advertising that is most suitable for the demographic
• Market size and potential growth
• Customer wants and needs
• Motivation to buy the product
• Distribution channels (retail, online, wholesale, etc…)
• Quantity and frequency of purchase
• Income level of customer

Collaborators

Collaborators are useful for businesses as they allow for an increase in the creation of ideas, as well as an increase in the likelihood of gaining more business opportunities. The following type of collaborators are:

• Agencies: Agencies are the middlemen of the business world. When businesses need a specific worker who specializes in the trade, they go to a recruitment agency.
• Suppliers: Suppliers provide raw materials that are required to build products. There are 7 different types of Suppliers: Manufacturers, wholesalers, merchants, franchisors, importers and exporters, independent crafts people and drop shippers. Each category of suppliers can bring a different skill and experience to the company.
• Distributors: Distributors are important as they are the ‘holding areas for inventory’. Distributors can help manage manufacturer relationships as well as handle vendor relationships.
• Partnerships: Business partners would share assets and liabilities, allowing for a new source of capital and skills.

Businesses must be able to identify whether the collaborator has the capabilities needed to help run the business as well as an analysis on the level of commitment needed for a collaborator-business relationship.

Climate

To fully understand the business climate and environment, many factors that can affect the business must be researched and understood. An analysis on the climate is also known as the PEST analysis. The types of climate/environment firms have to analyse are:

• Political and regulatory environment: An Analysis of how active the government regulates the market with their policies and how it would affect the production, distribution and sale of the goods and services.
• Economic Environment: An Analysis of trends regarding macroeconomics, such as exchange rates and inflation rate, can prove to influence businesses.
• Social/cultural environment: Interpreting the trends of society, which includes the study of demographics, education, culture etc…
• Technological analysis: An analysis of technology helps improve on old routines and suggest new methods for being cost efficient. To stay competitive and gain an advantage over competitors, businesses must sufficiently understand technological advances.

Media Strategy Components

These are the steps involved in creating your media plan:

Research and Identify Your Target Market: Take the demographics of your target audience into consideration. The more you know about your target market, the more effective your overall marketing strategy will be. Identify your market, where and how they spend their time, and the media and messaging to most effectively reach them. For example, marketing through mobile apps and social media would be more effective to reach the teenage demographic than advertising in print and traditional media.

Set Measurable Objectives and Goals: Keep in mind your overall marketing objective and goals during the strategy creation process. These must be measurable and specific. Use the SMART method, which stands for Specific, Measurable, Achievable, Realistic, and Time-Based. The simple goal to “Make more money” can be measured, but “Increase profits by 20% by Q3” is a much more specific goal and it offers a way to create a timeline that keeps you on track.

Determine Your Marketing Budget: The marketing budget is also part of your media strategy. Without a budget, it is possible to throw thousands of dollars at a problem and get no clear solution. Having a set budget encourages you to think each tactic through and be more creative in your problem-solving. It protects you from overspending or spending money you do not have. 

Craft Your Message: The marketing proposition is the customer problem your business will solve and how it will do it. The message is based on your research into what will appeal to the 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. If you launch one strategy that doesn’t have the expected business results, your company can learn from where it went wrong and improve subsequent launches.