Today’s media buying company is a phenomenon of the 20th century and emerged as the result of the explosion of mass media advertising. There are four main types of media buying companies. A media buying company is similar to advertising agencies; however, they specialize in media buying and typically do not offer any creative or nonmedia marketing strategy services. Most frequently, a media buying company refers to itself as media-planning and buying agencies, and planners and buyers work side by side to serve their clients. The second type is the full-service advertising agency, which usually consists of several distinct departments, one of which is often media buying and planning. Large companies that employ their own in-house marketing departments may also have their own in-house media-buying departments. Finally, some media buyers work alone, canvassing for their own clients and establishing their own media-seller relationships without the support of other buyers, planners and analysts.
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A media buying company earns the majority of their income in three ways. First, media buyers typically earn commissions on the media they purchase. They often receive 15 percent of every buy as a bonus from the media outlet where the purchase was made. Larger media buying agencies often buy media in bulk without specific plans as to where or when they will sell it. By buying large blocks of media, they can negotiate lower purchase rates and resell smaller chunks of the media at regular prices. Finally, some media buyers may charge retainer fees or hourly fees from their clients, although this is a less common means of reimbursement.
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Regardless of how a media buying company is organized or earns revenue, what is common is a demand for easier access to a single source of information from which to calculate both the efficiency of campaign plans as well as the efficacy of campaign results. LogicLab has been established with media planning and buying in mind. Check out www.logiclabinc.com.
