TV and Radio Advertising is NOT Dead – it is Evolved!
You have probably heard the rumors that TV and Radio advertising is dead. It is true that this type of advertising has changed in the last few years, but it is far from dead. Streaming platforms, podcasts, and social videos present more viewing and listening options, which has expanded the ways businesses get their marketing message out to the public. If anything, TV and Radio advertising is alive and well because now there are far more ways to reach and target your audience.
In 2020, 65+ million dollars was spent on television commercials. This includes cable, OTT (over the top), local broadcast stations, streaming services and the like, proving that new technology and the internet has more than expanded the viability of TV advertising. This form of advertising has consistently, for many years, remained the most effective way to put your brand in front of your target audience.
The top spender in TV and Radio advertising is still the retail industry. With the introduction of eCommerce retailers like Amazon, the percentage of TV ad spend has made a significant jump. Consider how many ads you have seen recently for Amazon, Chewy, Instacart, Imperfect Foods, Door Dash, financial planners, or lawyers, and it is easy to conclude that TV advertising is essential in marketing.
Affordable TV Advertising Options
The most wonderful thing about many of these internet-based “TV” platforms is when it comes to affordability. Yes, big corporations like those listed above, are spending thousands of dollars for TV ads; however, even on a smaller budget, small businesses can reach the exact same audience. This is possible because the pricing structure for internet-based TV ads is based on impressions.
Traditional TV broadcast stations charge for :15 or :30 second spots assuming they reach the entire viewing audience. Internet-based TV ads are charge for :15 or :30 second spots based on actual views (impressions). The data behind the transmission of an ad indicates if the ad was skipped or viewed and the business only pays for the ads that are viewed by the consumer. Both are viable tools, depending on who your consumer is and their viewing habits. If you target market group is over 50, cable and local broadcast stations are your best bet. If your target is a younger more mobile audience then internet-based streaming ads are for you.
Another factor in affordability is the technology available for video production is more accessible. Almost anyone can create video, which can be turned into ads and used in digital marketing, on streaming platforms, and even on cable and local broadcast channels. Working with a full service company like REAL Moxie makes cross media video marketing accessible even for smallest mom & pop shops. Our team of content writers, graphic artists, voice and acting talent, and videographers can create ads that appeal to your potential customers, and we leverage our marketing agency buying power to get you the most bang for your buck. We do the research and negotiate the best rates so you can remain focused on your business.
Cross-Media Campaigns Work Best
Many of those who think TV and Radio advertising is dead, do so because they fail to see the benefits of internet-based platforms. A “choose one or the other” approach is guaranteed to fail, but an inclusive cross-media campaign has more potential to succeed. In fact, that is the key to almost any campaign. Looking at all your options and choosing advertising spaces, platforms, and times that appeal to a potentially responsive audience.
Traditional TV advertising increases brand awareness over a broader demographic. It does not have the ability to pinpoint target or produce detailed consumer tracking data, but there is something to be said for casting a wide net. Digital advertising, on streaming platforms, allows an ad campaign to target a specific potential consumer base, track phone and website traffic, monitor social media engagement, and make adjustments in real time to increase effectiveness. Engaging in both platforms generates brand awareness AND helps you target consumers ready to buy. A combined approach is best for increasing your ROI (Return On Investment).
Radio Targets Captive Audience
Ok but what about radio advertising? Hasn’t it died because of podcasts and music streaming services. We say NO! Radio advertising is very much alive and kicking. Case in point. Everyone in Kansas City knows the Jeremy Franklin commercials! Everyone!!! Even though you may spill your coffee trying to turn down the volume before you have to hear “A dime every time” in a horrible Jersey accent…the fact remains, that commercial did its job! Whether you like it or not, repetition grabs your subconscious and won’t let go.
Radio advertising works because you have a captive subconscious audience absorbing your message. Ads that run during drive times have the highest chance of generating sales. The key is in having a script that effectively gets your message across.
Again, like with TV, broadcast radio ads cast a wide net. They are a bit less expensive, which allows for repetition, but highly effective when you hit your audience while driving. Another similarity is that streaming radio apps are digital/internet-based, which give you the same detailed data as their TV ad counterparts. Each station and platform offer access to different demographics, and your potential customers have specific listening habits.
Like we said before, the best approach for TV and Radio advertising building a cross-media campaign that hits your target audience where they are AND how they watch or listen. REAL Moxie has been handling traditional and digital TV and radio advertising for years. Our staff are fully capable of creating effective ad campaigns.
Once you have set your advertising budget, REAL Moxie will create a cost-effective cross-media strategy designed to reach your target consumer with your message when they are engaged and most likely to respond. This kind of research-based targeting ensures you aren’t wasting your precious advertising dollars