Guerrilla Media Buying: Tight Budget? No Problem for Guerrilla Marketers! Buy media at 75-80% off rate card!
Guerrilla media buying techniques include non conventional and “under the radar” techniques for buying media time and space in nearly all media forms and at under market prices.
You read about the traditional approaches Money Shot to media buying- whether broadcast, print, or Internet. But there are other buying strategies to considers such as cross platform buying, where large media conglomerates own an assortment of media properties that can be packaged to extend value for buyers and sellers Sometimes it makes sense to negotiate a cross platform buy with a media conglomerate which owns media properties, film studios, entertainment and sports venues and the like.
Astute media buyers may also use “guerrilla media buying” techniques to achieve their quantitative buying goals. Like the leveraging strategies presented in the media negotiations chapters, guerrilla buying strategies can sometimes get you a lot more advertising exposure for the money.
Some of the techniques, presented in Chapter 23 of “Media Planning & Buying in the 21st Century” will introduce you to money techniques for buying more for less — like cross platform buying, remnant buying, online auctions and bidding platforms, pay per inquiry, pay per sale, and media barter. Skillful use of these techniques can increase the power of your media budget.
1. Cross Platform Buying – Media conglomerates own many media and entertainment venues. Negotiating a cross platform deal with them can sometimes provide an integrated marketing program and cost savings for the advertiser.
2. Remnants – Remnants are unsold advertising units. The reason for remnant space availability is that media rarely sell all their advertising time or space. The unsold ad space or time, called remnants, can often be bought at steep discounts, e.g., up to 80% of rate card prices. Few media sell all of their time or space before it is too late. Remnants are especially plentiful in radio,newspapers, and the internet for banners and display ads. However, remnants are also available in television, magazines, outdoor, and a variety of non traditional media.
3. Auctions & Bidding – There are a number of online media auctions or bidding opportunities. Advertisers may bid on certain inventory or in some cases media will place bids on the advertiser’s budget. Readers are encouraged to check out mediabids.com, or Bid4Spots.com, online marketplaces where buyers can potentially save money and media sellers can generate incremental revenues. In other words, a win-win!
4. Barter – Barter involves trading of products or services for their products or services. Barter is usually cashless. Some companies trade old inventory they haven’t sold for media time or space which hasn’t been sold. Advertising media is one of the largest categories in barter. Companies interested in trading for media time or space may contact media directly, or they may choose to work through a trade exchange. Barter is an opportunity to gain new customers, buy media without cash.
Due diligence is strongly encouraged– as there a few crooks out there!
Ronald D. Geskey, CEO, 2020:Marketing Communications LLC
Author & Publisher: Media Planning & Buying in the 21st Century – Book provides a discussion of the mega-trends affecting media planning and and buying and how the status of media buyers and media sellers will rise in the status and responsibility chain. As buyers and sellers begin to understand that it’s not about buying the most TRPS at tshe lowest price. Media buying will increase in importance as advertisers better understand that media buying can have a huge effect on advertising effectiveness.