Beginners’ Guide to Media Buying (2024)

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Why should your business engage in media buying

If you want to reach your key target audiences at the right time and in the right place efficiently and effectively, you should consider media buying as part of a balanced digital marketing strategy.

According to a survey by Cision, a public relations software company, marketers spend 25% of their marketing and advertising budget on owned media, 25% on paid media, and 24% on earned media.

Paid Media vs. Owned Media vs. Earned Media

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A media buy is not owned media or earned media because it is bought. It is considered a paid medium.

Paid media is any marketing effort that involves paying for the space to display promotional content, offline or online. However, with technology becoming more accessible to everyone today, paid media is particularly robust in the online space.  

In digital marketing, paid media is classified into two main categories: paid search and display ads.

Paid search ads are ads that appear in response to consumers actively searching for a brand, product, or service. 

Display ads are ads shown to consumers who might be interested in a brand, product, or service but aren’t actively searching for them.

Owned media is any content or channel that you or your business creates. This may include a physical or digital mailing list, a website, a blog, an app, and your social media profiles. You have complete control over these, and you can use them to promote your brand, products, and services however you want.

Earned media is any material about you or your business that you haven’t created yourself or paid for. In short, it’s free publicity because your actions earned you the attention of the media, your customers, or other third parties.

Each type of media provides insights into how customers learn about, engage with, and communicate with your brand. They differ in terms of the degree of control you have over the content, the costs involved, and the impact on each stage of the marketing funnel. 


You have full control over owned media. You have a degree of control over paid media, but it is limited by how much you spend on paid ads. You have no control over earned media, although you can influence it in how you respond to and engage with it.


Although paid media has generated the impression that it can get quite expensive, all three types of media have cost considerations.

Owned media is limited by your business’ time and resource investment. You need to produce good-quality content that resonates with your target audience, which can be work-intensive and takes time to generate returns.

Your investment in paid media may look considerable, but if you compare it with the time you save and the potential returns you generate, it might turn out less costly than owned media.

Earned media has costs, too, especially if you enter into influencer partnerships. Even without those partnerships, you will still need to invest in cultivating good relationships with media, your customers, and other third parties so they will have a favorable view of you and your business.


Paid media is especially useful for amplifying brand awareness at the top of the funnel. It can ensure you get a lot of visibility, so you can get potential customers quickly.

Earned media has a bigger impact further down the funnel during the buyer consideration stage. Personal recommendations and third-party publicity can have a strong influence on customers’ purchasing decisions.

Owned media can work well at all stages of the funnel, from brand discovery to conversion to the purchase decision.

The key is to have a clear understanding of each and how you can use them in crafting a strategic and balanced marketing strategy. 

In this guide, we focus on paid media, particularly on the nature, types, processes, and key aspects of media buying.

What Is Media Buying, and What Are Its Examples?

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Media buying is buying advertising from media companies. It is an outbound marketing strategy where you get your brand in front of your target market.

The media companies you buy advertising space from can be those in traditional media such as newspapers, magazines, television stations, radio stations, and outdoor advertising. 

They can also be from new digital media such as social media, blogs, influencers’ websites, streaming services, and apps.

Advertising space purchased in media buying is also known as advertising real estate or advertising inventory.

Several factors determine the price for media buys, depending on the medium or media used. 

For example, in television media, factors would include the specifics of the advertising campaign, such as where the ads will appear, whether in one or several cities, regionally, or nationwide. 

In social media, blogs, and influencers’ website media buys, factors would include where the ad will be placed on the page, how many pages of the website the ad will show on, the ad size and format, how many days the ad will run for, how much traffic the website receives, and the website’s audience or user demographics.

Generally, the more audience reach, engagement, and conversions the advertiser expects to receive, the more expensive the media buy will be.

It is important to remember that media buying is not simply paying to get ad space.  Within a broader context, effective media buying is about forging strong and meaningful relationships with different media channels so you get to maximize its benefits.

3 Main Media Buying Benefits

Here are three key benefits of successful media buying:

1. Access to Inventory

Expert media buyers know the channels and time slots that offer the best reach and engagement for your ads. They also intimately understand how bigger external events can affect ad placement and costs. So, they also know how to spend your ad budget optimally.

When your media buyer works with white-label ad technology software to buy inventory, you become the platform owner. They can do this because they can access the direct publisher’s placements through an ad server, or they can connect to a custom supply platform.

With this greater access to ad inventory through your media buyer and avoiding intermediaries such as ad exchanges and ad networks, you can cut bid markups by 10% to 30%.

2. Easy Negotiations

Media buying specialists have extensive networks of contacts across the vast media space. They enjoy more exposure to brand ad inventory at lower costs because they work directly with publishers. This makes negotiating easier than negotiating for the ad inventory and placements yourself.

They are also adept at programmatic advertising, where the success of deals depends mainly on optimization. The demand-side platforms (DSP) feature algorithms such as bidding autopilot, which enables setting bidding rules and multipliers for specific campaigns. 

These algorithms automatically adjust the bids, increasing win rates. They also smartly adapt the bidding strategy based on the received metrics. 

In the long run, these reduce your ad spend per conversion.

3. Improved Brand Awareness and Quality Leads

When done right, media buying brings you improved brand awareness among the best-quality leads. With granular targeting, your media buyer can fine-tune your target buyer’s profile and use custom parameters based on the audience data provided by publishers.

Your media buyer can also help you set up custom traffic sources for digital media buying. Given your real-time analytics, they have a better understanding of the quality of your conversions.

What Does a Media Buyer Do?

The benefits of media buying are closely linked with the expertise of the media buyer you tap to do the media buying for you. So, what does a media buyer really do?

  1. Before any media buy happens, media buyers conduct research to optimize the return on investment (ROI) on your advertising budget. They study your target audience for a product and determine which media or combination of media will best serve your target audience, given your marketing and advertising goals and budget.
  2. Once the right media or media mix is determined, a media buyer will approach whoever owns the desired advertising space to negotiate a price, the timing, and the rest of the deal. Media buying experts typically have developed personal relationships with media planners and media owners. This enables them to negotiate the best deals for you.
  3. Media buyers keep abreast of changes in the marketplace. With fast-evolving business changes, assumptions on what is the best medium for advertising are continually challenged. What was a great advertising venue for your type of business, product, goals, and target audience last year might not even be a good one this year if the media channel’s reputation has been negatively affected.
  4. Professional media buyers always aim to create value for their advertising clients by finding or creating the best deals for them.

At Growth Collective, your media buying expert will help you with platform configuration, which involves inputting your campaign details into your ad-buying platform. 

They will also help you with ad placement selection, which involves determining your campaign targets and which media channels will be the best to reach them. 

Your media buyer will also help you with campaign optimization and reporting to maximize your ad potential while keeping within your budget. This also includes making tweaking adjustments to your campaign for the entire length of your campaign.

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Media Buying vs. Media Planning

Often, marketers use the terms “media buying” and “media planning” interchangeably. However, they are two different elements that work together in advertising.

Media planning happens before media buying. It’s the preparation of the road map that media buyers follow when negotiating for and purchasing ads. It’s a research-based process to ensure the effectiveness of and maximize the return on investment (ROI) of media buying.

A media plan typically contains the following:

  • Campaign goals and objectives
  • Marketing metrics and key performance indicators (KPIs)
  • Audience details
  • Budget
  • Relevant market insights
  • Media mix
  • Timeline
  • Measurement tools
  • Creative specifications

Media buying is the implementation of the media plan, focusing on the right mix of media to effectively deliver on the campaign goals.

There are three ways to purchase media:

  • Direct: Buying ads directly from a specific media channel or publisher
  • Network: Bidding for and buying ad space through demand-side platforms (DSPs) and supply-side platforms (SSPs)
  • Programmatic: Using technology in buying and selling digital ads

Although there can be a different media planner from your media buyer, at Growth Collective, your media buyer also does the media planning for you. 

They will help you clarify your specific marketing and advertising goals, your key performance indicators (KPIs), and your budget. Then, they will set up a system to keep track of your campaign to make sure your goals are met.

Types of Media Buying

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The different ad placements available for media buyers are types of media buying. These can be through conventional or digital channels.

Conventional ad placements include:

  • Print ads in newspapers and magazines
  • Radio ads
  • TV ads
  • Out of Home (OOH) ads (ads on billboards, busses, taxis, street furniture, outdoor posters, tubes or metro systems, airports, and other travel locations)
  • Any ad that is not digital

Digital ad placements include:

  • Display ads
  • Paid search
  • Mobile ads
  • Social media ads
  • Video ads
  • Influencer advertising
  • Affiliate marketing
  • Digital OOH ads (interactive and immersive ads such as elevator advertising)

The Media Buying Process

Buying process isometric map, customers road from media to seller

There are eight critical steps involved in the media buying process, which the media buyer takes care of after the media plan is set:

  1. Deciding what percentage of the total budget will be spent on guaranteed inventory (a specific amount of inventory is bought) vs. non-guaranteed inventory (an unspecified amount of inventory is bought, usually at a discounted rate).
  2. Sending requests for proposals (RFPs) to media outlets when applicable, then determining which media mix offers the best potential to maximize campaign performance.
  3. Finalizing the order by creating an insertion order (IO).
  4. Trafficking the creative to the chosen media outlets and sizing each ad correctly for its placement.
  5. Launching the campaign and making sure that the metrics are in place to measure the campaign results.
  6. Monitoring the metrics from media outlets or channels and internal insights from the data to gauge success, making necessary tweaks, and keeping track of the overall campaign against its key performance indicators (KPIs).
  7. Reconciling costs and negotiating “makegoods” for under-delivering ads (A “makegood” is an offer by a media outlet to make for any shortfall in the guaranteed delivery of ad impressions, clicks, or other performance metrics originally agreed on with the advertiser.)

How Traditional Media Buying Works

In traditional media buying, a company representative manually negotiates ad placements and prices and purchases them directly from the media channel salesperson.

It’s a long, time-consuming, and back-and-forth process where the company representative acting as media buyer basically goes through the discovery and sales process with each media channel salesperson.

This is why traditional media buyers, professionals, and agencies evolved. They usually have connections already in place. It’s easier for brands to launch their advertising campaigns through these professionals than through their own company representatives.

How Digital Media Buying Works

Digital media buying, also known as programmatic buying, involves automated media buying. There are still negotiations that happen, but they happen faster through open and private marketplaces.

With digital media buying, advertisers can focus more of their time on monitoring and optimizing ad performance instead of the back-and-forth negotiations of traditional media buying.

There are three elements of digital media buying:

  1. Demand-side Platforms (DSPs) are where advertisers and advertising agencies set up their campaigns, make bids on ad inventory, and optimize their ads based on ad performance.
  2. Supply-side Platforms (SSPs) are the publisher version of the DSPs where media channel owners or publishers sell their ad inventory.
  3. Ad exchanges, which are marketplaces for advertisers, advertising agencies, media channel owners, and publishers to buy and sell ad inventory through real-time bidding (RTB)

However, RTB is not the only way to purchase ad inventory. 

Advertisers can participate in auctions at private marketplaces where publishers limit who can participate. 

Advertisers can buy ad impressions through the ad inventory they secure using programmatic direct, where inventory is sold at a fixed cost per thousand impressions (CPM) with no bidding.

Advertisers can also buy inventory from ad networks, which are platforms that aggregate ad inventory from many publishers and match it to advertisers’ needs. Aside from Google Adsense and Facebook Audience Network, other top ad networks for advertisers are:

  • Apple Search Ads
  • Clickadu
  • Kadam
  • Yahoo Ad Tech
  • Suomzilla
  • Taboola
  • TikTok Ads
  • Snapchat Ads
  • Twitter Business
  • Spotify Ads
  • Microsoft Ads
  • Epom
  • LinkedIn Ads
  • Telegram Ads
  • InMobi Audience Targeting
  • AdRoll
  • SXM Media
  • Perpetua
  • Primis

What is social media buying?

Social media buying is the process of buying ad placement for ads for clients and paying to display sponsored content. 

This content can be advertisements, promoted posts, or sponsored videos shown to a targeted audience on platforms such as Instagram, Facebook, LinkedIn, X/Twitter, and other social media platforms.

The main aim of social media buying is to find the right time, place, and context to deliver relevant ads to a target audience and increase brand awareness, conversion rates, and/or sales for a client.

Social media buying can be done through manual buys, direct buys, or programmatic buys.

What is Facebook media buying?

It’s another name for social media buying. A “Facebook” media buyer doesn’t just buy ad space on Facebook but also on Instagram, LinkedIn, and other social media channels. They must have a solid understanding of constantly evolving social media algorithms and how to use them for ad optimization.

“Facebook buying” probably became synonymous with “social media buying” because Facebook was the first social media channel to launch ads on its platform. 

In 2006, it signed a one-year contract with JP Morgan Chase to promote credit cards as banner ads. In 2011, it revolutionized advertising when it introduced its Ads API (application programming interface), which allows any business owner to create a Facebook page and buy space on its platform to advertise.

Key Digital Media Buying Platforms

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There are already many digital media buying platforms. But here are the most prominent ones that businesses use:

Amazon Advertising

Amazon Advertising is a powerful platform, especially for ecommerce businesses looking to promote their products. They can target users based on their search queries, product interests, and shopping behavior. They have three advertising options to choose from: Sponsored Brands, Sponsored Displays, and Sponsored Products.

Sponsored Brands is an advertising option that helps customers discover your brand within the Amazon store. 

Sponsored Display is a self-service option that helps you increase awareness for your brand and products, engage with customers, and drive purchases to drive your on-Amazon business.

Sponsored Products are cost-per-click (CPC) ads that promote individual product listings on Amazon, and premium apps and websites are selected to show these.

They differ in the availability and nature of features such as automatic targeting, manual keyword targeting, manual product targeting, manual audience targeting, ad placement, eligibility and availability, and benefits.

Sponsored Brands’ main benefit is increasing brand awareness by engaging potential customers with new brand metrics.

Sponsored Display’s main benefit is re-engaging and retargeting customers and creating product awareness.

Sponsored Products’ main benefit is cost-effectiveness.

Facebook Ads

Facebook Ads provides advertisers with a powerful advertising platform across Meta companies Facebook, Instagram, and WhatsApp, as well as affiliated platforms.

You can target users based on demographics, interests, behaviors, and custom audience segments. 

The platform also supports several ad formats, such as photo, video, Stories, Messenger, Carousel, Slideshow, Collection, Playables, and Instant Experiences.

Google Ads

Google Ads is an online advertising program where you can create online ads to reach people right when they’re interested in the products and services you offer. 

There is no minimum spending commitment. You set and control your own budget, choose where your ad appears, establish a budget that’s affordable, and monitor the impact of your ad.

Google Ads also offers various ad formats across its extensive network, including Google Search, Google Display, video, and mobile advertising. The Google Display Network (GDN) alone is a group of more than two million websites, videos, and apps where your ads can appear.

Google Ads lets advertisers target users based on keywords, demographics, interests, and more.

LinkedIn Ads

If you’re targeting a business-focused audience, LinkedIn Ads is the recommended platform for media buying. LinkedIn is the leading platform for professional networking. 

With 922.3 million users as of April 2023, it is estimated that the potential LinkedIn ad reach is around 11.5% of the world’s total population and 17.8% of the world’s total number of internet users.

LinkedIn Ads are self-service. Advertisers can create Sponsored Content, Sponsored InMail or Sponsored Messaging, Text Ads, Dynamic Ads, or a mix of all four to reach professionals based on their job titles, industries, and company sizes.

Sponsored Content delivers native ads to the feeds of LinkedIn members in your target audience. It comes in nine different formats

  • Single-image ads
  • Document ads
  • Video ads
  • Carousel ads
  • Event ads
  • Thought Leader ads
  • Click-to-message
  • Connected TV ads

Sponsored InMail helps advertisers deliver personalized messages through direct messages to engage prospects via Message Ads and Conversation Ads. 

Message Ads lets you display a target message with a single call-to-action (CTA) message. Conversation Ads enables you to set up multiple CTA buttons that link to your landing pages, open a Lead Gen Form, or drive engagement with more information in the next message.

LinkedIn Text Ads are simple ads served on the right-hand side or top of target audiences’ desktop feeds. You can create pay-per-click (PPC) or cost-per-impression (CPM) bids to control your ad spending.

LinkedIn Dynamic Ads lets you engage your prospects with right-rail ads that are automatically personalized for each user based on their profile. Dynamic Ad formats can be Follower Ads, Spotlight Ads, and Job Ads.

Follower Ads are for expanding your audience and acquiring more followers for your LinkedIn Company or Showcase Page. Spotlight Ads are for sharing and building thought leadership, best practices, insights, and useful content with your target audience. Job Ads are for getting more applicants for your job postings.

X/Twitter Ads

X (formerly Twitter) Ads offer unique targeting options to expand your reach. It describes its audience as “influential, plugged-in, and with a discovery mindset.”

It has the following ad formats:

  • Promoted Ads: with Text Ads, Image Ads, VideoAds, and Carousel Ads as subcategories
  • Vertical Video Ads is X’s most engaging and fastest-growing ad format, with 20% of daily total time spent
  • X Amplify allows advertisers to align their ads with premium video content from publishers who are most relevant to their target audience
  • X Takeovers: the most premium, mass-reach placements that drive results across the funnel by allowing brands to take over the Timeline and Explore tabs
  • X Live allows advertisers to broadcast their big moments to their target audience and lets these audiences join in and engage in real-time
  • Dynamic Product Ads (DPA) enable advertisers to deliver the most relevant product to the right prospect at the right time using DPA Prospecting and DPA Retargeting
  • Collection Ads let advertisers showcase a collection of product images through a primary hero image and smaller thumbnails
  • X Ad Features offers a suite of standard and branded features such as app cards, website cards, branded hashtags, and branded notifications, which can be applied across the other format categories

According to X, a Nielsen Brand Effect study from 2015 to 2018 showed that using three or more ad formats increases campaign awareness by 20% and purchase intent by 7%.

Media Buying Best Practices

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Before even considering buying media and negotiating for a media buy, these four factors must be considered:

1. Guard your brand

When you work with an external media buyer and not your own company employee assigned to do media buying, make sure to partner with a trustworthy and skilled buyer who has established solid relationships with media channels and publishers. Make sure they have the track record to show their expertise in successfully placing, buying, and reconciling ad spend.

Your media buyer should also keenly understand and work in their role as an intermediary between media planners and execution teams. 

They should have expertise in both areas to be able to translate media planning strategies into successful execution. They need to be able to collaborate well with media planners in developing practical plans that the execution team can feasibly implement.

Be conscious of keeping your brand’s safety top of mind. Work only with media buyers who prioritize brand trust and brand safety.

At Growth Collective, we’ve made this easier for you as our media buying consultants are pre-vetted experts across every major channel, marketing tool, and vertical. 

They have all passed a rigorous screening and certification process that includes at least five years of experience, a 5-star track record of client satisfaction, expertise in at least one channel or tool, and proven excellence in communication and timeliness. 

We also have a system for ongoing accountability, so you can focus on growing your business and not have to supervise our media buying consultants as well.

2. Optimize your media buying

Set out to optimize your media buying as a key focus even before you’ve started it. Optimization is adjusting frequency and bids to maximize ad performance while blocking identified low-performing domains.

This is one of the several benefits of programmatic ad buying. By default, programmatic ad buying already performs optimization for you. The key is to ensure that your advertising campaigns are correctly set up with the right parameters.

3. Aim for a cohesive strategy

Keep the big picture in mind with a cohesive marketing and advertising strategy. Make sure that your marketing mix and creatives work together and not against each other. This is vital for achieving the best returns on your advertising investments.

Tell a complete and consistent story across your entire media mix instead of having disjointed and disharmonious advertising messages and creatives, which will only confuse your target audience.

Along this direction, media buyers should avoid overwhelming execution teams by attempting to integrate too many media channels. It’s best to identify and focus on a few high-performing channels rather than spreading your resources too thin across too many channels, with low-performing ones eroding the gains of high-performing ones.

4. Emphasize measurement

For overall optimization of your ad campaigns, identify and understand which campaigns and creatives are driving the best results at the lowest costs.

A prime benefit of digital and social media is the ability to measure and fine-tune campaigns while they’re running instead of waiting for them to end to use the results.

On the media buying implementation side, the following best practices are key:

5. Continually conduct competitive research

Media buyers should also keep themselves continually informed and updated about their field. 

They must stay aware of and learn from competitors and their approaches to media planning, buying, and execution. They must focus on identifying the optimal technologies, strategies, and ad placements for investments.

6. A/B-test creatives

Media buyers should actively encourage execution teams to A/B-test their campaign creatives. 

This testing should cover key elements such as targeting parameters, ad copy, and creative content so they can better understand which strategies yield the best results.

7. Understand conversion tracking

Media buyers should also collaborate closely with media planners and execution teams to define campaign objectives within the sales funnel.

Then, they should work together to identify the important touchpoints that require close tracking for conversions and performance evaluation.

8. Closely monitor and analyze campaign performance

For future increased campaign performance effectiveness and to make well-informed media buying decisions, media buyers should be vigilant over the data generated by active campaigns. This can be done through both routine reporting and direct monitoring.

Media Buying Trends in 2024

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According to the President and CEO of Mosaic Media, Mary Ann Pruitt, a media buying professional and LinkedIn thought leader, these are the key media buying trends for 2024 for traditional media, digital media, and social media:

Traditional media will emphasize the continued importance of TV and radio for most demographics, while it will offer more local and niche targeting options for advertisers. It will also integrate digital tactics such as cross-channel platforms and promotions. More platforms will also be moving to programmatic buying, as proven by Connected TV/Over-The-Top (CTV/OTT) streaming video and streaming audio.

Digital media will have increased programmatic buying using artificial intelligence (AI) and more sophisticated algorithms for media buyers to locate and purchase ad space, allowing for more precise targeting and real-time bidding, leading to greater efficiency and higher ROIs.

There will also be more privacy-centric strategies because of growing concerns over data privacy and the elimination of third-party cookies. This means that there will be more focus on first-party data acquisition and contextual targeting for compliance with data privacy regulations while still reaching target audiences.

This will be coupled with a shift towards more interactive and immersive ad formats such as augmented reality (AR) and virtual reality (VR).

There will also be faster growth of retail media networks that place media within retailers’ networks, such as Amazon, Instacart, and Walmart. More retailers are expected to open their networks to media placement. Growth is forecast to be at 8.3%.

Social media will see advertisers expanding their ad spending to include newer platforms such as TikTok, Snapchat, and community forums, forming more authentic partnerships with micro-influencers who have niche, loyal followers, and high engagement rates.

Social media platforms will also further enhance their e-commerce capabilities, offering more direct shopping experiences to users. Media buyers can leverage this development by offering integrated advertising that drives more revenues.

In addition, there will be a growth in cross-platform media buying using omni-channel approaches that spread messages across traditional, digital, and social channels. Real-time optimization will become necessary, and a greater focus on ROI will be expected, given the latest advanced analytics tools.

In November 2023, Meta partnered with Amazon to streamline advertisers’ conversions. This enables U.S. shoppers to link their Facebook and Instagram accounts to Amazon and buy products in their Feeds without having to leave the apps. 

Already seen as a game-changer in the industry, this partnership enables better targeting, conversion rates, optimization, and creative personalization. Other platforms are expected to follow suit, establishing partnerships between their advertising and ecommerce offerings.

Partnering With a Media Buyer

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By now, you have gained an understanding and appreciation of what it takes to do media buying right and successfully.

Because of the knowledge, skills, and media relationships involved, it’s best to partner with a media buying specialist who already has the experience and track record to ensure that your media buying campaigns are successful.

If you have an employee who already has these qualifications, then you can do media buying through your internal media buyer.

But if you don’t and don’t want to invest more resources in recruiting, hiring, and training a full-time media buyer in your employ, it’s best to source your media buyer from a pre-vetted network of the world’s top freelance marketers, Growth Collective.

With Growth Collective, you can have your expert media buyer partner in just 48 hours. All you need to do is create a role for the media buyer consultant you want, meet curated talent that matches what you want, and work flexibly with them. 

You can scale your team up or down as your needs change, as there are no long-term contracts.

Partner with your media buyer now.

Jeanette Patindol
Content Writer
Former company
About Author
Jeanette early-retired in mid-2020 from her 23-year academic career as an Economics, Interdisciplinary Studies, and Communications professor to dedicate the rest of her life following her bliss doing what she loves to do most: writing. She has been writing for publications and various clients on multiple platforms since she was 14 years old. Now, she intends to help individuals and businesses across the globe achieve their goals by creating exceptional content that resonates well with their audiences.
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