Much has changed in the world of TV advertising over the past decade. It’s never been cheaper to launch a campaign, never easier to reach your target audience and never quicker to gain tangible results, but it doesn’t end there. TV advertising is now an integrated medium; excelling as a generator of multichannel brand-to-consumer engagement. It’s this last change that businesses are still failing to exploit.
New research from The Fournaise Marketing Group recently found that 70% of marketers failed to translate their marketing activity into measurable sales conversions during 2013, with an over-reliance on new media responsible for the lack of success, according to analysts.
The research, collated from a sample group of 1,200 chief executives and management personnel, identified a particular focus on online, social and mobile marketing platforms amongst business across Europe, North America, Asia and Australia, with a lack of research, development and testing cited as reasons why such campaign strategies failed to deliver the desired results.
Guerillascope would argue that online, mobile and social platforms are great for amplifying brand engagement and nurturing long-term loyalty, but ultimately, as sales converters, they’re most effective when used as extensions for an underlying TV advertising campaign. Why? Because television instigates response on a greater scale than any other marketing avenue. It has become the point-of-sale medium.
Let's put TV's effectiveness as an advertising platform into perspective: On average, every £1 million spent on a campaign produces a £4.5 million uplift in sales, a figure that far exceeds any competing marketing channel. When online is incorporated as the final point of response, the Cost Per Acquisition can be reduced significantly, distinguishing TV one of the most cost-efficient platforms available.
TV also boosts brand visibility and consumer interaction like no other, both of which are key to increasing sales. It has been ranked as the most impactful advertising medium for five-years running, whilst last year, a report commissioned by Deloitte found that 52% of the UK population believed TV was the platform most likely to stir consumer interest in a product. TV advertising is also the most effective generator of word-of-mouth engagement, with television accountable for 51% of all offline and online WoM activity instigated by brand marketing.
Neil Mortensen, head of research and planning at Thinkbox, says of the relationship between TV and other marketing platforms: “Paid advertising’s causal effect is often overlooked with too much emphasis put on what is easily counted or highly visible – where the conversation happens rather than what drove it… It is clear that investment in advertising – and especially TV – is key to getting people to talk about your brand positively.”
With 73% of UK families claiming to regularly engage with the multiscreen mode of TV viewing, as well as the 75% of 16-24 year-olds who admit to spending more time on connected social media platforms than talking to parents or attending lectures, the combination of a targeted, cost-efficient TV campaign and integrated online activity is an opportunity brands are missing.
Ultimately, as we've learned from our own TV advertising activity, in order for businesses to maximise sales via online, social and mobile platforms, consumers have to be directed by a compelling message that effectively communicates the value-for-money of a product or service. Nothing is better at doing this than a TV campaign, which these days may only cost you as much as it would to obtain a couple of clicks through Google Paid Search.