03 Feb TV Advertising’s 5 Rules for Small Businesses
Maximizing local TV advertising is sometimes tricky for businesses in the face of many exciting opportunities. Typically, they are uncertain how to achieve the main goal of advertising, which is branding and of course converting viewers into customers. To deal with this uncertainty, here are five basic rules any buyer needs to know about the video advertising landscape:
- Know your options
Advertising placement and rates are driven by competition. The higher the number of operators to select from, the lower the cost. Conversely, the less competition, the higher the cost. So, find out what your options are to avoid being overcharged. There may be more options available than many people actually realise.
- Target the right audience
America’s marketing pioneer, John Wanamaker, is quoted as saying: “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.” Until recently, advertisers have not had sophisticated tools with which to reach customer prospects via specific ‘behaviour-graphic’, psychographic and demographic targeting.
Your customer data file – large or small – is a vital asset in building an effective ad campaign. This data can be compared with census data to determine the demographic profiles of potential customers. You can then match both data with cable set-top box viewing patterns and even offline purchase behaviour. Finally, you can use the combined data to create a media plan to find the right audience by targeting your customers’ favourite TV shows, even reaching them directly with a targeted message.
However, with the latest audience-targeting technological advancement, enabled by the combination of the latest set-top box and consumer data, you no longer have to experience what John experienced, as all your money spent on advertising will be money well spent.
- Use a digital strategy to complement a TV campaign
It’s a fact that marketers who use diverse media outlets boost the effectiveness of their advertising campaigns. For example, Interactive Advertising Bureau cited a new auto model campaign, which combined TV, mobile web and desktop advertising that led to a 200% increase in unaided brand awareness. With the time people spend online ever increasing, it’s prudent to complement a TV campaign with online advertising, making it almost impossible for your brand to be missed.
- Use social media, but warily
The power of social media in reaching out to and engaging prospects is undeniable. For this singular reason, it would be a great disservice to overlook the use of social media. However, it’s well documented that social media is plagued with issues such as highly undesirable ad juxtaposition, gross audience overstatement and general lack of accountability. So, great care has to be taken. Ask your social media marketers tough questions about protecting your business’s brand. Also, have a firm social media policy implemented within your organisation. Use of social media should be monitored accordingly and seen not as the centrepiece of your marketing campaign, but rather just a single component.
- Ask tough questions of your ad partners
Consult your media partners or agency and determine the pros and cons of various media platforms. For digital advertising, its strengths are being able to highly engage audiences, as well as geo-fencing, re-targeting and a better ability to measure ROI. However, its limitations include ad-blocker technology, click fraud, imperfect targeting algorithms, viewability issues and inappropriate content environments – all of which make many marketers choose to avoid the use of digital advertising in isolation.
For instance, radio advertising is best suited for reaching consumers in their cars, but is known for its frequency of message and limited branding power. However, TV advertising is evolving and now encompasses digital-style targeting and ROI capabilities with the perks of sight, sound and motion. The drawback is that it remains the most expensive medium. So, meet your marketing advisors and have a frank talk about the best mix to achieve your objectives within budget.