What is a media strategy? A media strategy is a plan of action that helps your business reach its target audience and to improve the overall customer conversion rate.
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Your conversion rate is the percentage of people who take a desired action after engaging with your website, or any other form of media that introduces a call to action.
The purpose of a media strategy depends on the goals of your company or brand. A media strategy can range from increasing brand awareness to improving your PR outreach; each task and goal is very different. However, each plan involves a strategic use of media channels in order to effectively convey your brand’s message. In order to have a strong media strategy, you must narrow down on a singular, attainable goal that will positively benefit your brand.
Media strategies are based on business objectives, have specific goals in mind, and engage your target audience. Media strategies often implement an integrated media campaign, utilizing different channels and platforms to creatively convey your message. Media strategy is often intertwined with brand strategy, which is how your message is implemented into your marketing and main brand message.
Research the industry and competitors: Knowing what your brand is up against in the industry is important in strong brand positioning. Performing a competitor analysis will help you identify your brand’s strengths and weaknesses and how to improve your consumer experience. It is important to conduct market research, use consumer feedback, and use social media to do a full competitor analysis. Understanding other brands’ positioning is important in strengthening yours.
Identify your target audience: Knowing the demographics, psychographics, and other distinguishing behavioral and emotional characteristics are important in solidifying your target audience. Figure out the age range of your target audience, gender, household income, hobbies, beliefs, values, and where they consume their media.
Set measurable objectives and goals: Your marketing objectives must be quantifiable and specific in order to boost your brand. Use the SMART method, which stands for Specific, Measurable, Achievable, Realistic, and Time-Based to create specific goals.
Determine your marketing budget: Setting a marketing budget allows your brand to make realistic goals and media plans for your marketing. Determining a set budget protects you from overspending, and helps keep your brand in check with attainable goals and content.
Craft your message: Your marketing message is the solution to your consumers’ problem from existing services in the marketplace. In a strong media strategy, your brand is the differentiating factor in bettering your consumers’ lives. Your brand’s message should propose a solution to the marketplace problem, and you must include a call-to-action.
Content creation: Storytelling is at the heart of each media strategist. Media strategists need to know what content performs well on each channel, each social media platform, on each marketing email. Strong writing skills are a must, as well as an eye for appealing visual graphics. Media strategists should have an understanding of the consumer and the type of content they are looking for.
Digital: Digital is the world of content creation today, and media strategists must know how to utilize and create digital content to engage consumers, particularly on social media. Other than just producing digital content, media strategists have to know what impresses their audience and helps hold a strong retention rate during the long term purchase process.
Strong research skills: Knowing how to use different research platforms and analyze data is an important skill for media strategists. Media strategists use platforms like Commspoint, Nielsen, and Simmons Insights, as well as focus groups and surveys, to gather data about target audiences, media habits, and market insights to apply to brand strategy.
Presentational skills: Media strategists must be able to pitch their findings to clients and explain their work thoroughly. They must be able to present their research, concepts, and progress to clients in a structured and clear manner.
Multiplatform media: Forming a strong media strategy is all about sharing your brand with different types of media, from videos to blogs to print. There are huge stylistic differences to creating print advertisements versus experiential advertisements, and a skilled media strategist knows how to appeal to each type of medium.