Ace negotiators who use research, analysis, strategy, and financial know-how to purchase media space and airtime, Media Buyers help their employers and clients reach their target audience and meet business objectives. Continue Reading
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Explore Career Ace negotiators who use research, analysis, strategy, and financial know-how to purchase media space and airtime, Media Buyers help their employers and clients reach their target audience and meet business objectives.
What are the typical responsibilities of a Media Buyer?
A Media Buyer would typically need to:
Media Buyers work in dynamic high-pressure workspaces where they spend the better part of their workday strategising with colleagues and negotiating with media companies via phone calls, video conferences, or emails. In-person or online client meetings are also a standard feature of one’s work agenda. Meetings, seminars, workshops, and conferences may need one to travel occasionally.
Media Buyers typically work 40-45 hours/week, putting in extra hours when deadlines must be met. Flexi work schedules are becoming more popular, with organisations recognising the importance of accommodating clients and associates at odd hours. Freelancers and part-timers may have more flexible schedules but must still be willing to work evenings and weekends if necessary.
Research suggests that flexible hours and generous telework policies appeal more than salary to the younger generation. There has been an incremental increase in employers willing to give promising employees a chance to adjust their schedules per the job demands.
Finding a new job may be challenging. Media Buyers can boost their job search by asking their network for referrals, contacting companies directly, using job search platforms, going to job fairs, leveraging social media, and inquiring at staffing agencies. Freelance and part-time work are viable options.
Media Buyers are generally employed by:
Professional associations and organisations, such as the World Federation of Advertisers (WFA), are crucial for Media Buyers interested in pursuing professional development or connecting with like-minded professionals in their industry or occupation.
Professional associations provide members with continuing education, networking opportunities, and mentorship services. Membership in one or more adds value to your resume while bolstering your credentials and qualifications.
Pre-entry work experience that showcases one’s aptitude for media buying is among the most favoured means to gain a foothold in this incredibly competitive field.
Typically, fresh graduates opt for entry-level positions in advertising or marketing agencies. As junior media planners/buyers, advertising associates, assistant marketers, or office assistants, aspiring Media Buyers have ample opportunities to learn the ropes of the business.
Relevant summer internships or short-term paid/voluntary work in advertising, media, communications, sales, or marketing firms also offer a taste of the work, help build valuable contacts, develop practical interpersonal and communication skills, and improve one’s prospects of getting a permanent job.
A first-rate professional resumé that concisely and accurately reflects your education, work experience and abilities may help you get the dream job, as would exceptional interview skills.
Even while in high school, you can check with a teacher or counsellor about relevant work-based learning opportunities available in your school or community that can help you connect your school experiences with real-life work in advertising or marketing.
Join your school newspaper, yearbook committee, or any media-related club, take on leadership roles, or volunteer with the marketing or advertising club, so you can have fun while learning valuable communication, analytical, critical-thinking, organisational and collaborative skills.
Get to know trending social media platforms, digital advertising tools, and data analytics so you can create and manage online campaigns, a skill much appreciated in Media Buyers.
Read industry publications, blogs, and online resources to learn about evolving media consumption patterns, advertising technologies, and social media platforms. Interview or job shadow experts in media buying to prove your commitment to course providers and prospective employers.
Media Buyers must be able to analyse and strategise resourcefully to produce positive work outcomes. Relevant academic qualifications help with the process.
Most aspirants aim for an accredited bachelor’s degree in advertising, marketing, communications, English, mass media, journalism, public relations, sales, business, management studies, accounting, finance, psychology, or operational research. An ideal education programme should include statistics, business law, economics, and research methods.
Some employers may mandate a relevant master’s degree, while others may accept an associate degree or higher national diploma (HND) in a relevant subject. There may also be instances where work experience indicative of commercial awareness and interpersonal skills carries more weight than formal education.
Recommended high school courses include business, economics, mathematics, marketing, advertising, communications, media studies, computer science, statistics, and psychology to help you understand consumer behaviour, market dynamics, data analysis, and budgeting. English and speech classes will help you develop your research, writing, and oral communication skills, which are pertinent to this role.
Remember that completing a particular academic course does not guarantee entry into the profession. Be that as it may, professional qualifications and transferable skills may open up more than one door.
Do your homework and look into all available options for education and employment before enrolling in a specific programme. Reliable sources that help you make an educated decision include associations and employers in your field.
Certification demonstrates a Media Buyer’s competence in a skill set, typically through work experience, training, and passing an examination. Successful certification programs protect public welfare by incorporating a Code of Ethics.
Complete approved training programmes from nationally recognised accreditation bodies to gain certification in media buying and planning, purchasing, public procurement and supply management to give your professional career the required impetus.
Additional certifications in supply chain management, internet/digital marketing, digital advertising, and data analytics from an objective and reputed organisation can help you stand out in a competitive job market and carry a significant salary premium of up to 18 per cent.
The Media Buyer’s location may determine the need for a licence. Typically, licensure requires an application, processing fees, an examination, and relevant education and experience. Check whether you need licensure with local or national media advertising associations.
Media Buyers may also need to undergo an employment background check, including but not limited to a person’s work history, education, credit history, motor vehicle reports (MVRs), criminal record, medical history, use of social media, and drug screening.
Media buying is a rapidly evolving industry with opportunities for precipitous career progression based on performance, demonstrated experience, and tactical application of requisite skills.
Successful Media Buyers can enrich their professional portfolio and take on more clients when promoted as Senior Media Buyers, Media Planners, Account Planners, or Account Executives.
Directorial roles such as Media Account Director or Media Director bring in their wake additional managerial responsibilities and the continued expectation to efficiently manage multiple campaigns.
You can specialise in particular job areas or platforms, such as radio, TV, or social media. Your skills may be welcome in other departments, such as sales and marketing. Headhunters will likely encourage you to accept better-paying job opportunities with rival companies needing your talents.
Shifting gears and moving into consultancy or related roles in data management, research, or account planning are alternate career paths dependent on one’s interests and skills.
The desire to accelerate career growth and personal development has an increasing number of millennials choosing to job hop and build a scattershot resume that showcases ambition, motivation, and the desire to learn a broad range of skills.
Studies prove that job hopping, earlier dismissed as “flaky” behaviour, can lead to greater job fulfilment. Employees searching for a positive culture and interesting work are willing to try out various roles and workplaces and learn valuable, transferable skills along the way.
Media Buyers with excellent interpersonal and negotiation skills, a relevant bachelor’s degree, industry-specific accredited certifications, and adequate work experience in marketing or advertising have the best job prospects.
Continuing professional development (CPD) will help an active Media Buyer build personal skills and proficiency through work-based learning, a professional activity,
formal education, or self-directed learning.
Most employers offer on-the-job training to new hires so they can learn about the company’s favoured purchasing processes, digital media platforms, and the software used to create and manage campaigns. Larger organisations may run structured training programmes involving exposure to multiple client accounts and dealing with different clients.
Use any employer-sponsored opportunity to hone your planning, negotiation, IT (information technology), campaign execution, and presentation skills. Employers may also organise and conduct seminars and workshops facilitated by industry experts and media research organisations, which can shed light on the latest industry trends.
Acquisition of advanced certifications in Google Data Analytics, internet marketing, and digital marketing is a favoured way to upskill. You may consider completing a postgraduate programme in marketing or advertising if your professional goals warrant it.
While acquiring qualifications and credentials is pertinent, the impact of networking and peer engagement on professional growth must be addressed. Fruitful interaction with clients, industry experts, vendors, and colleagues can help one quickly navigate the competitive landscape of media buying while exploring fresh growth opportunities.
In addition to offering the opportunity to continually upskill, regardless of one’s age, job, or level of knowledge, CPD also enables the periodic renewal of desirable certifications, which increase your chances of advancement and becoming an independent consultant.
The Role of Programmatic Advertising in Media Buying
Media buying in the past involved manual requests for proposals, tenders, and quotes, human negotiation, and labour-intensive manually-prepared insertion orders and advertising tags.
While it doesn’t exclude human interaction, programmatic ad buying, which uses machines and algorithms to determine the purchase of the most appropriate ad space, gives the advertising team more time to plan, optimise, and target their campaigns.
Programmatic Media Buyers who understand how to use social media, display ads, pay-per-click (PPC), and video ads to achieve the lowest cost-per-click (CPC) will succeed in effectuating the highest ROI or ROAS (return on ad spend).
Programmatic Media Buying - The Four Models
In an open exchange or open auction, the highest bidder wins the impressions available to everyone in real-time. Larger publications prefer to host private marketplaces (PMPs) with complete control over potential bidders during the auction.
When publishers sell slots to advertisers in closed/preferred deals, advertisers can see the ad inventory and clinch the agreement before the slots go public in real-time bidding (RTB) or PMP auctions.
Programmatic guaranteed refers to the process where programmatic channels, rather than a traditional IO (insertion order), are used to formalise the transaction after advertisers and publishers negotiate inventory and rates.
Biddable Media and Media Buying
Biddable media is any form bought via real-time bidding, including those hosted by third-party platforms, which offer a more agile and practical process than auction-based media buying.
Media Planner vs Media Buyer
A Media Planner collaborates with the client and creative teams to develop a strategic media plan in sync with set advertising objectives and target audience while factoring in budget, reach, frequency, and media effectiveness.
Once the planner receives acceptable proposals from publishers, the Media Buyer, an advertising media cost schemes and calculations expert, takes over negotiating the deal and purchasing ad placements across selected media channels.
Smaller organisations may have one individual with effective collaboration and coordination skills to manage media planning and buying. However, larger organisations favour a clear distinction between the two roles, with employees working in either media planning or buying.
Traits That Help
Media Buyers who can execute campaigns and deliver expected results to their clients within the timeline given to them are well-rounded individuals with the proper skill set and ability to fulfil their duties.
In addition to a comprehensive knowledge of advertising and marketing principles, Media Buyers should have proficiency in data analysis, research and market analysis, and digital marketing.
Accomplished professionals credit attention to detail, strategic thinking, effective communication and relationship management, and solid time management, organisational, and negotiation skills in closing lucrative deals.
Current Scenario
The employment outlook of a particular profession may be impacted by diverse factors, such as the time of year, location, employment turnover, occupational growth, size of the occupation, and industry-specific trends and events that affect overall employment.
Media Buyers may witness a slight job growth in the future depending on their skills, qualifications, and performance. Increased automation may lead to a potential decline in their employment. However, one needs to factor in industry-specific needs and the ability of individual organisations to adapt to said changes.
Potential Pros & Cons of Freelancing vs Full-Time Employment
Freelancing Media Buyers have more flexible work schedules and locations. They fully own the business and can select their projects and clients. However, they experience inconsistent work and cash flow, which means more responsibility, effort and risk.
On the other hand, full-time Media Buyers have company-sponsored health benefits, insurance, and retirement plans. They have job security with a fixed, reliable source of income and guidance from their bosses. Yet, they may experience boredom due to a lack of flexibility, ownership, and variety.
When deciding between freelancing or being a full-time employee, consider the pros and cons to see what works best for you.
In a market saturated beyond belief, Media Buyers wield their knowledge of media trends, new platforms, and target markets to ensure the employer or client’s products/services get optimal advertising exposure and enjoy maximum customer patronage.
“Most people would benefit from reading less and doing more; keep launching campaigns and keep testing,”
- Charles Ngo, Internet Marketer
AI can analyse massive amounts of data from multiple sources and speedily make effective decisions about valuable opportunities to identify and recommend high-value TV media buys.
What do Media Buyers do?
A Media Buyer would typically need to:
Accredited
$59,439
