1. Review media plan.
Once the media plan is in place, it’ll be handed off to the media buyer. The plan will include goals, timelines, target audience, and total budget, but it will likely be up to the buyer to decide how the budget is allocated.
Now is the time to think about types of ads, where you’ll run them, and how much money you want to dedicate to various channels.
Free Resource: Get your media plan template here.
2. List media outlets.
With your target audiences in mind, develop a list of media outlets where you’d like to buy ad space. If you plan to use a combination of media types, you can also include DSPs on your list (like the ones recommended later in this article).
3. Submit RFPs.
Now that you have a list of outlets, send them each a request for proposal (RFP). This document will include all your campaign details and ask vendors to respond with proposals that match your goals. The point is to give you a series of proposals to review so you can make decisions on where to place your ads.
Free resource: Use these RFP templates to get you started.
4. Make final decisions.
Once you’ve got the RFP responses in hand, it’s time to make buying decisions. Evaluate how the proposals will help you meet your goals and how they align with your overall ad placement strategy. Then, go ahead and buy the ad space.
5. Send insertion orders.
When your ad placements are final, submit insertion orders (IO) to all the ad inventory vendors. IOs are legal agreements between publishers and advertisers that detail the specifics of an ad campaign (dates, format, placement, etc.) and they’ll require your signature as well as that of the publisher.
