Media Buying with Rich Kagan
watch the Video feed here
Audio Podcast feed here
Available on Apple Podcasts, Google Podcasts, Spotify Podcasts, and Anchor Podcasts
✅ What is Media Buying
✅ How to choose the right channel for your media
✅ How analytics has affected Media Buying
We also discuss the following:
- Why Peloton’s stock plummeted when Mr. Big died on the new Sex in the City spinoff show, “And Just Like That”
- Peloton’s excellent Social Media Crisis plan and response
- The importance of having a social media crisis plan in place
- A marketing minute with Matt on Elf and the Meta Verse
What is Media Buying?
Media Buying Definition
Media buying is the process of purchasing media space on different types of mediums including radio, TV, and even digital spaces such as podcasts in a marketing effort.
Successful media buying involves using analytics to identify and purchase the right ad space on the right channels. Analytics are used to identify the right media channel for the target audience at the best possible time slot, for the cheapest cost.
Both traditional and digital marketers find media buying relevant. Here are a few examples of marketing channels:
- Social Media
If done correctly, media buyers will get their customers maximum exposure among their target market for the least amount of money spent.
In-depth INterview with Rich Kagan of LastMinuteMediaDeals.com on Media Buying
Media Buying for your Business
Our interview this week was Rich Kagan, Owner of LastMinuteMediaDeals.com. In the interview, we discussed the process of data interpretation along with:
- Rich tells us how he got started in Media Buying and Advertising
- At one time Rich created the Howard Stern Ad Network, Rich tells us a little more about that experience
- Rich describes to our audience what goes into Media Buying
- Rich goes in-depth on how to identify your target audience?
- He discusses the modern challenges Media Purchasers and Advertisers go through today
- Rich talks about what advertising channels do he finds to be the most effective?
- He also talks about how much that changes based on the product or service
- Rich discusses how Last Minute Media Deals help with those challenges
- Rich describes how his company uses Data and Analytics to help with media buying
- Rich discusses what else goes into your purchasing process and decision-making
- Rich describes a media buying campaigns that stand out as particularly effective
- Rich discusses his favorite A list horror film (good quality horror film) and D list horror film (Terribly made horror film, but you are going to watch it either way)
- Rich tells us his favorite sports moment
glorious marketing of the week
Fans of the hit show, “Sex and the City”, tuned into the brand-new spinoff show, “And Just Like That” to find themselves in the middle of an infomercial about the brand Peloton and its fitness bike.
Something that should have been a fantastic piece of advertising for Peloton, turned into a disaster. At the close of the episode, Carrie returns home to find John, “Mr. Big”, had suffered a heart attack after finishing up his Peloton workout. Especially morbid was the Peloton bike sitting in the frame for a portion of the death scene.
Social Media was a buzz about the death of Mr. Big. Peloton, and Sex and the City were both trending on Twitter, and everyone was talking about the death of the fictional character. So much so, that Peloton’s stocks dropped as much as 10% in a day.
Peloton acted swiftly through a well-thought-out social media crisis plan, and put together the following ad within a few days.
The ad depicts Mr. Big, sitting with his Peloton instructor, and discussing how he faked his death so he could be with her. They discuss going for another ride on the bike, and then Ryan Reynolds does a voiceover that discusses the health benefits of using a Peloton on a regular basis.
The immediate response helped to prevent further bleeding of their stocks.
The ad’s success was short-lived, because allegations against the actor that plays Mr. Big almost immediately surfaced, and Peloton worked swiftly to pull the ad. One more crisis adverted!