Is TV Still an Effective Advertising Medium?
12 Aug 2018
YouTube, Netflix, digital advertising and TV have been in the boxing ring for years now. There seems to be no real single source of truth as to if TV is ‘dead’ or not. I guess that’s the internet for you. It seems we can only really pick and choose the stats and opinions we see online and turn to focus on our own experiences to determine if its effective or not. It’s still, there right?
Here’s what we know
Advertisers have slowly decreased their spend in TV to invest in digital. Why? Digital is far more targeted and trackable. But is it memorable? For certain industries (namely events and retail) the brand recall through TV ads is a lot higher than in digital. This is on account of the reach, frequency, share of voice and commitment to the channel by the viewer. With shows like MasterChef, My Kitchen Rules, The Block and The Bachelor, millions of people commit one hour (or more) to the TV where they’re open and comfortable with seeing ads. And ads that they can’t turn off or skip either!
Where do I invest?
The consumer purchase journey has become a complex beast. The key thing is to not put all your eggs in one basket. Businesses need to develop a strategy that covers all bases and engages with the most effective channel to achieve the objective. This may be more than one channel. A traditional and digital approach will always work better than just one or the other. Having a marketing strategy can help reach your business goals quicker and increase revenue. Get in touch with Feeney Marketing today to talk strategy.
What impact do streaming channels have on my reach?
Netflix and Stan subscriptions have been on the rise for years. Many people have chosen to subscribe to streaming channels rather than cable or network TV. According to eMarketer – this is mostly due to convenience. But with sports events and live television, advertisers still have an opportunity to reach a mass audience at the right time. Don’t have the budget? Opt for online video instead, using your Facebook page or YouTube channel to get your video messages out there.
So now what?
We’re wrapping this up with these key takeaways:
Yes TV is still effective.
Marketing is ineffective if executed in isolation. A combination of digital and traditional will always work better.
TV spend is on the decline, but that does not mean it is ‘dead’ or ineffective. People are trying new things and embracing the possibilities of digital. TV still has a place in game.
Don’t underestimate the power of research while developing your marketing strategy. If you can understand where your audience consumes their media, this will help you decide where to spend your money.