The Tech Firms Changing TV Advertising in 2018
Most articles you read focus on the rising popularity of digital marketing coming at the expense of more traditional channels- such as TV advertising.
What most don’t realise however, is the sheer effectiveness of TV advertising. Recent (2014) research, suggests that for every £1 invested in a TV ad produces £1.79 in profit.
Guess what? That £1.79 in profit is the greatest return delivered by any of the advertising mediums too.
With this in mind, businesses should not consider popularity as a contributing factor when deciding on their advertising strategy. Instead of basing their strategy on the supposed decline of TV advertising, every business should instead query the current effectiveness of both digital and traditional advertising; what they find might just surprise them.
Prior to this we have explored the pros and cons of each type in Can Digital & Traditional Marketing Live in Harmony? The conclusion to that question was a definitive yes and we suggest, for most companies, it’s worth utilising both.
But the consistent accusation made against TV advertising is that it’s no longer effective or, at least, not as effective as digital marketing.
This simply is not the case.
Yes, we could draw on statistics that indicate 84% of millennials don’t trust traditional advertising. Yet we could also throw out the fact that a majority of people disapprove digital’s use of data mining and tracking to deliver personalised ads.
If we took those two stats in a vacuum, we’d be left in a world without advertising; because depending on who and what you’re reading- either digital or traditional is defunct.
The majority of commentators are suggesting the latter is the one in danger of extinction. More often than not, the articles that purport that Traditional advertising are dead, are written without any statistical evidence and by those with vested interests in digital advertising.
The polemic stance of such professionals is surprising, given that there is little evidence that fundamentally proves their argument. In fact, research demonstrates traditional advertising is still proven to deliver results and profits akin to, if not higher than, digital techniques.
This isn’t based on guess work. Recent (2014) research into effectiveness demonstrates that TV advertising is a truly prosperous route for businesses to take; with the IPA suggesting that, on average, a successful three year television ad results in a 140% uplift in profits.
Not only does this highlight how lucrative running a TV ad can be, but it is also suggestive of the incredible longevity of the medium.
It’s also worth noting the startling reach of television. Commercial TV reaches 71.4% of the UK population in a day, 92.8% in a week and 98.2% in a month. This is an unparalleled reach.
Maybe you’re not able to specifically target a key demographic like a digital campaign could. Instead, you’re reaching all of them.
Of course, by choosing your slot (when your advert appears) you can loosely determine the demographic by determining who will be watching the show. This, coupled with the wealth of research conducted into targeting, means that you can ensure advert will be reaching a good proportion of your key demographic.
Even if you do favour a digital policy, what you will quickly realise is that most online conversations are catalysed by offline media. By offline media I am referring to what’s being played on your television screen.
This is why the two advertising mediums work so well together, because there is such a crossover between them. When asked what form of advertising stimulates their online conversations 28% of respondents, to a Think Box study, suggested it was TV advertising- with the closest rival being social media advertising at 11%.
In solely an offline context this is again the case. TV ads are again the most talked about form of advertising. With 58% of respondents, in the same study, suggesting that TV advertising was the most form of advertising they were most likely to talk on the phone or face to face about.
Of course, the idea that such conversations are so prevalent in an online setting demonstrates how communication has changed significantly and this ensures the need for an effective digital strategy to capitalise on the gains made through TV advertising.
If you’re still not convinced then it’s worth noting that 69% of website visits are generated by paid-for media and 47% of such visits are a direct consequence of TV advertising.
When you study how to send something viral, as I imagine most marketers and businesses have done at some point, you’ll find that most (good) research suggests that content that elicits an emotional response is the most likely to be successful.
Research from BuzzSumo indicates this to be true. After BuzzSumo took 10,000 of the web’s most popular articles and studied what emotion they elicited they found that the top three emotions present were: awe (25%), laughter (17%) and amusement (15%).
This doesn’t necessarily mean an advert has to elicit one of those three emotions, but it demonstrates the importance of eliciting an emotional response among your audience.
Interestingly, when Ipsos and Thinkbox asked their UK audience which forms of advertising were the most successful at making them laugh, cry or feel emotional, 77% pointed to TV advertising. The closest rivals were newspapers and radio with 8% of the vote.
The evidence is pretty conclusive and it’s hard not to conclude that TV remains the most powerful form of advertising. This isn’t to disabuse from the importance of digital advertising, the two seem to be symbiotic thanks to the changing nature of communication. But for true impact, incorporate TV into your strategy.
What strategy do you employ? Leave a comment for us!
If you have any questions or queries regarding TV advertising for your business feel free to get in touch.
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