Being an Online Media Buyer is an ever-growing career choice in today’s Internet savvy world. Choosing this job entails a person to negotiate and purchase appropriate online advertisement space, in order to manage successful advertisements within to turn a profit based on sales and other revenue. Although in many cases Online Media Buyers have a college degree, any person with determination and education on the basics can start their own endeavor into the online media-buying world. Here’s a breakdown on how you can get started today:
Know The Payment Lingo
In Online Media Buying there are many factors that go into negotiating and closing a deal. However, no matter how small or large your budget, money is always a factor and you are sure to encounter the following lingo used commonly throughout the industry:
- CPM: CPM, otherwise known as ‘Cost Per Thousand,’ can be defined as the set price for 1,000 bought impressions. Every website an online media buyer targets has data summing up it’s daily and monthly impressions for each web page within it’s network. Banner spots, Tab links, Pop-Unders, and other advertising media are most commonly sold on a CPM basis, in which a buyer buys a fixed amount of impressions at an agreed rate. The deal only expires once all impressions are served, not necessarily over a fixed time period.
- CPC or PPC: Cost Per Click (CPC) and Pay Per Click (PPC) is a second pricing option, defined as the set price for one manual click by a user online. In this case, a buyer buys a fixed amount of clicks at an agreed rate. This deal is only finished once all clicks promised have been used, and once again, not necessarily over a fixed time period.
- Flat Rate: A Flat Rate deal requires that a set price and time period is agreed upon and payment is made in advance prior to the advertisements streaming live. Instead of a certain amount of clicks or impressions being promised, only a specific amount of days or months is set in stone for the price paid.
What to Buy?
At the end of the day, anything and everything is always for sale, however, in the day-to-day workings of an Online Media Buyer, there are several industry standard spots and sizes that webmasters most commonly have for sale. They include:
- Index: This spot is located on the home page of a website in an upper corner. The most common sizes for this spot are 300x250px and 315x300px.
- Header/Leaderboard: This is a horizontal banner spot located in the header of the website. The most common sizes for this spot are 468x60px and 728x90px.
- Tower/Skyscraper: This is a vertical banner spot located throughout the website. The most common size for this spot is 160x600px.
- Next To Video (NTV): This is a banner spot located directed to the right or left of video content. The most common size for this spot are 300x250px.
Where to Buy? Geographical Targeting Explained
An online media buyer commonly has the option to geo-target an ad buy, or choose users from specific geographic locations to show their ads exclusively to. For example, a buyer may choose to only target the United States, South Africa, or all English speaking users in their deals.
Running What Clicks – CTR is a Factor
The creative used within your advertisement space is essential to earning income. If no one clicks your ad, no one is going to spend any money on your product, that’s for sure. Use CTR stats, ‘Click Through Rates,’ to determine what ads click best.
Auctions – Another Option
Live auction bidding is another option that buyers have when online media buying. Instead of prepaying for ad spots with a CPM, CPC, or Flat Rate deal, a person can compete hourly with other media buyers in a live auction to win impressions in a specific ad spot.