TV advertising is no longer beyond the reach of SMEs with limited budgets.
TV advertising is typically perceived as a luxury, a media channel solely for the Big Brands in advertising. Gone are those days – there are now new options for advertising on TV including lower-cost TV channels, AdSmart, VOD, burst advertising, and off-peak airtime. With the right planning, TV is a very affordable and effective channel.
Most SMEs generally focus largely on media channels outside of TV such as Radio, Digital, Out of Home, and Print. There is a perception that TV advertising is beyond the reach of advertisers with limited budgets. In Buymedia’s experience with SMEs & TV advertising, the biggest barrier is fear, a step into the unknown. We aim to take the unknown away and show advertisers that they can get a TV ad live on air, with little spend and get a significant return.
TV builds brands.
If your business objective is to drive people down the marketing funnel, rather than focusing on the end conversion you need to be advertising on TV. As soon as you want to elevate your brand, TV needs to be on your media map.
TV advertising is now affordable.
AdSmart was developed with the ambition to grow the TV market and reduce the barriers to entry which were once only met by the large brands. AdSmart is cheaper than traditional TV advertising and works by only showing the advert to a specific target audience whether it’s based on geographical area or lifestyle options. Sky have a production fund that advertisers can benefit from which provides them with the opportunity to take the first step into TV advertising. Businesses from all industries and sizes can now afford to advertise on TV.
TV has the credibility factor.
In the 21st century, we are inundated with fake news, fake advertisements, and increasing skepticism among consumers. TV is a proven media channel and has been a trusted platform for decades. Many SMEs find that when they begin advertising on TV the reputation of their brand increases in terms of credibility, a level of credibility that they don’t receive from other media channels.
The Buymedia Experience with SMEs & TV Advertising
Our advertising platform is driven by data. When advertisers have a particular niche target market and budget our platform combines that with the data and turns it into a media map. Experian provides consumer marketing data and has split the Irish consumer market into 14 different mosaics, TV ranks in the top 3 for around 12 out of the 14 mosaics.
90% of our advertisers will spend under a quarter of a million on advertising a year. We have run TV campaigns for clients that have a 15-20k budget, whether it’s through AdSmart, VOD, or burst advertising. For Bluebird Homecare we ran a tactical TV campaign on a small budget, which resulted in the client achieving an increase in their brand awareness of 7%. Another client Utipro, a pharmaceutical brand, launched a TV campaign across Virgin & Sky for just 15k which only targeted females. The brand received an uplift in sales of 60% and saw an immediate uplift on google analytics once the campaign went live.
SMEs problem is that they have a cognitive bias and end up doing repeat advertising again and again. As Einstein said, “don’t do the same thing over and over and expect different results”. If the data shows that your audience is watching TV, bring TV into your media plan and watch your metrics grow in terms of revenue, brand, and google analytics.
The final piece of advice from the experts on the TAM webinar was to “be brave”. Look at the data. Look at the budget. TV advertising is not outside of your reach anymore.
TAM Ireland Webinar. Peter McPartlin – The Indie List, Fergal O’Connor – Buymedia, Malcom Murray – Sky Media Sales, Mark Hopkins – Hopkins Communications, Emmet Reidy – Advantage Media.
If you are an SME and want to find out more about advertising on TV or the most effective chanels to reach your target market, the Buymedia team will gladly give you all the advice you need. Book a meeting with us today: https://buymediahq.com/contact/