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What is media buying?

08/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Media buying is a term from the field of marketing and refers to the process of buying advertising placements in various media channels. It can include traditional media such as television, radio, newspapers and magazines, as well as digital channels such as websites, social media and mobile apps.

The media buying process usually involves several steps. First, careful planning is done to define the target audience and identify the appropriate media channels. Then, budget allocation is done to efficiently use the available financial resources.

After that, the media buying process is completed.

After planning and budgeting, the actual implementation of the media buying process follows. This involves contacting media representatives or agencies, buying advertising placements and negotiating prices. The media buyer tries to obtain the best possible conditions for the desired advertising placements.

Once the ad placements are purchased, the media buyer monitors their performance and analyzes the results. This analysis makes it possible to evaluate the effectiveness of the advertising and make adjustments as needed. For example, the media buyer can optimize the placement or frequency of the ads to achieve the desired marketing goals.

Media buying is an important component of many marketing campaigns, as it allows companies to communicate their messages to a wide audience and effectively reach their target audience.By using different media channels, companies can maximize their reach and engage potential customers on a variety of platforms.

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How can I send press releases to press agencies?

08/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Sending press releases to press agencies is a common practice to get your news and information out to members of the media. Here are some steps that can help you do this:

Create a powerful press release: make sure your press release is well-structured and includes all the important information that is relevant to media representatives. A press release should include a clear headline, a summary of the main topic, the actual news text and contact information at the end.

Gather relevant press agencies: research which press agencies are relevant to your topic or industry. You can consider regional, national or international agencies, depending on who you want to reach.

Find the right contact information: make sure you identify the correct contact information for each press agency. This includes email addresses or specific contacts responsible for receiving press releases.

Personalize your approach: write a customized email to each contact and make sure you spell the recipient's name correctly. A personalized address increases the likelihood that your press release will be read.

Send your press release: Send your press releases by e-mail to the selected press agencies. Either include the news text directly in the email or add it as an attachment. Make sure your email is not too long and that the relevant information is clearly highlighted.

Follow up: A few days after sending your press release, you can send a short follow-up email to check if the agency received your release and if they have further interest in it.

Online releases: In addition to sending it out via email, you can also post your press release on your own website and social media.This will increase the chances that it will be found and picked up by journalists and bloggers.It is important that your press releases contain relevant and interesting information so that they attract the interest of press agencies.Be concise, clear and avoid overly promotional language. Also keep in mind that the decision to pick up a press release depends on the press agencies and is not guaranteed.

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What is an electronic press review?

08/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

An electronic press review, also known as an e-press review or digital press collection, is a digital compilation of press articles, reports, opinion pieces, and other media content published in various sources such as newspapers, magazines, online news portals, blogs, and social media. The purpose of an electronic press review is to provide an overview of coverage on specific topics, brands, companies, people or events.

Unlike a traditional press review, which contains physical newspaper clippings or copies of printed articles, an electronic press review collects digital copies of articles and often archives them in a digital platform or system. This allows for efficient monitoring and analysis of media coverage in real time or at a later date.

An electronic press review can be used by corporations, governments, public relations agencies, research institutions, and other organizations to track public perception, media response, and opinion formation. The information gathered can be used to analyze trends, make strategic decisions, conduct crisis management, maintain media contacts and evaluate the effectiveness of communications campaigns. Often, specialized software solutions are used to automate the collection of information.

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Difficult times for startups: challenges resemble those of the Corona era

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The rosy times for German startups appear to be passé as they struggle with a weak economy and tougher financing conditions. According to a Startup Association survey conducted by Deutsche Presse-Agentur, the business climate in the industry is at one of the lowest levels since the low point during the Corona pandemic in 2020, with the current score of 38.1 points only slightly higher than in 2020 (31.8 points). This continues a trend that has been seen since the record-breaking 2021.

The survey, which is based on a similar calculation method as the Ifo Institute, reflects a high level of uncertainty among founders. About 65 percent of the startups surveyed have difficulty assessing the future situation. Nevertheless, a slight increase in business expectations is evident, while the current business situation remains at the lowest level since the beginning of the pandemic.

The association stresses that after a wave of innovations that followed the shock of the pandemic in 2020, the current situation has become more difficult. Rising inflation and higher interest rates have led startups to act more cautiously. One-third of companies have reduced hiring and adjusted funding plans.

Since 2022, German startups have faced major challenges. While they were able to raise record amounts from investors in 2021, geopolitical tensions, rising interest rates and economic uncertainty have dampened the market. Investors are more cautious, resulting in many startups having to cut jobs and funding dropping dramatically in 2022. The situation remained tight in the first half of 2023, as startups raised about half the funding they did last year.

In particular, the ability to secure large funding rounds has declined sharply. There has not been a round over 250 million euros this year, compared to four such rounds in 2022 and eight in 2021, and the majority of founders rate the willingness of funders, particularly venture capital funds, as poor.

In view of these challenges, the startup association is calling for increased support from the German government. In particular, the expected "Future Financing Act" should be passed promptly to strengthen the location for founders. Among other things, this law should offer more favorable regulations for employee shareholdings and easier access to the capital market for growth-oriented companies. However, the implementation of this project has been delayed so far.

On Tuesday, the federal ministries of economics and finance announced that a new financing instrument called "RegioInnoGrowth" will support startups and small innovative SMEs. For this purpose, the federal government plans to provide up to 450 million euros from the Future Fund and the ERP Special Fund. Companies can each receive up to five million euros in funding.

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How do press photographers send their images to editorial offices?

08/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Press photographers have several options for sending their images to editors. The choice often depends on the technology and preferences of the parties involved. Here are some of the most common methods:

Digital transmission: This is the most common method today. Press photographers take their photos with high-quality digital cameras and then transmit the images to editors via the Internet. They can upload the photos either by e-mail, via special online image services or via cloud storage platforms and provide the editors with the link.

FTP (File Transfer Protocol): Some newsrooms provide FTP access to photographers. This allows photographers to upload their images directly to the newsroom's server. This allows for faster and more efficient transfer of large image files.

Press agencies: press photographers can also sell their photos to press agencies. These agencies act as intermediaries and then offer the images to various editors and media companies. The agencies handle the distribution and sale of the photos and give the photographer a share of the proceeds.

Image editing systems:

Some media companies and editorial departments use special image editing systems to which photographers can upload their images directly. These systems allow editors to quickly review and select images.

Personal delivery: In some cases, press photographers may deliver their images to editors in person. This is often done for urgent or high-value shoots where speed of transmission is of the essence.

It is important that the images are of high quality and often include captions, location, date and the photographer's name to ensure proper attribution and use. Specific methods may vary by region and media landscape.

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