Planning Your Media Buying for 2021

So many people are spending more of their time online due to COVID-19, so it’s not surprising that digital advertising is booming. Healthcare professionals have adapted to the social distancing environment, which means pharma brand managers are pushing ad spend from in-person to digital channels. How are you adapting your media plans?

If you haven’t yet planned your 2021 media strategy, here are a few things to think about.

Early Placement Advantages

Most marketing agencies will tell you to start planning early for a new year. They have good reason. Some of the advantages to early media buys include:

• Staying ahead of your 2021 budget. New rate cards for the upcoming year are usually out in Q4, so you’ll be able to plan ahead and more effectively allocate your advertising dollars on the most effective channels. Additional tip – contact your sales rep and ask for bundle or frequency discounts.
• Securing premium placement. By making your media buys early, you’re able to secure placement within highly-coveted ad space inventory, such as journal back covers, cover wraps and outserts.

The age-old phrase “the early bird gets the worm” applies when it comes to media buying. So what does it take to get the most from your media buys in 2021?

Media Buying Success Factors

To succeed in media buying, you must be detailed, think strategically, and consider market dynamics. For instance, this year’s significant impacts due to COVID-19 may extend deep into next year, and should not be ignored when it comes to executing media buys.

Will your media placements take into account the lingering and uncertain state of the coronavirus pandemic? Adapting to next year’s environment starts in your planning sessions. It will make sense to consider substantial and probable impacts – such as conference cancellations or restrictions and higher digital consumption of content by healthcare professionals – and shift media buys accordingly.

Establishing goals. When you set your advertising campaign goals, consider whether social distancing policies will extend the entire year or end sometime earlier. Engagement with your brand will look different depending on public policy and buying cycles may be altered because of shutdowns.

Strategizing. The pandemic could worsen or improve, and we could see a range of public responses. Are you thinking about a mix of scenarios between total lockdown and complete reopening of countries, regions, and states? Can you be nimble when it comes to media buys? Your media mix should account for a variety of outcomes in 2021.

Budgeting. Digital ad spend overall has been rising. The key to success is where that spend is budgeted. Have you locked in higher allocations for channels such as KOL webinars, educational websites, virtual conference sponsorships, and video advertising? Budget focus should be on digital and multimedia formats that are trusted and easily accessible to HCPs (and on-demand in some cases).

Media Buying Challenges

Seasoned healthcare brand managers understand the risks associated with buying media. Remember to keep in mind some of the common vulnerabilities when placing ads for 2021.

• Brand safety. Placement alongside content that HCPs and consumers would consider inappropriate or harmful can damage to your brand’s reputation. Ensure you are not taking any undue risk by working with those who publish trusted, peer-reviewed content. 
• Ad fraud. Ads could be placed on “ghost sites” that don’t really exist or appear imperceptibly small or layered on top of other ads. Confirm with sales reps where exactly your creatives will appear.
• Lack of transparency. Digital media buys can be far more complex and harder to trace than traditional media buying, so work with publishers that have reputations for ad placement transparency, and can provide requested metrics.

To address these challenges, it’s important to select reputable media partners such as Elsevier to give your brand credibility and reach a targeted, engaged audience. Our journals, supplements, reprints, webinars, and educational websites provide the ad security and credibility you need to succeed in 2021. Look for our new rate cards and learn more about opportunities with Elsevier here.

One final thought: If COVID-19 has taught us one thing, it’s the value of flexibility. Your media planning should leave room for adjustments and optimization as you move through the year. Good luck in 2021!

Article Written by: Alex Brown