The biggest challenge facing TV agencies this year will not involve a reworking of the ways value can be delivered to brands. There should be no soul-searching, or envious glances towards other media.
Instead, the mission for both agencies and broadcasters must focus on educating ambitious companies and raising awareness of the tools and opportunities TV advertising offers a wider range of businesses than ever before.
Take measurement and accountability, for example. At a time when brands are in need of a clear and decisive return on investment from their marketing activity, TV’s evolution into a targeted medium underpinned by technology that enables planning agencies to track and optimise performance with unprecedented detail should be sung from the rooftops.
The ability to drive down Cost Per Leads, Acquisitions and Response with agility and speed is saving television advertisers a huge amount of stress and money; it’s making budgets work harder, and allowing brands to build on results without having to commit their entire resources upfront in an act of blind faith. Advertisers are in control of their campaign’s destiny like never before, with ever-evolving targeting capabilities - particularly through platforms such as Sky Adsmart - further enhancing campaign efficiency.
Let’s also consider TV viewing figures. Contrary to regular reports predicting television’s demise as a vehicle for mass reach and brand engagement, the facts tell a different story. According to research from Thinkbox and the IPA, TV still reaches 92.9% of UK adults (82.3% of 16-34s) every week; the average viewer watches 2 hours 23 minutes of commercial TV every day, and sees 45 TV ads – figures that have remained consistent over the past decade. In total, TV accounts for 81% of all video viewed in an average media consumer’s day; YouTube and Netflix represent 3% and less than 2.5% respectively.
Finally, it’s worth remembering that TV advertising, whilst a powerful driver of short-term sales activation, truly flexes its profit-creating muscle as a longer-term, brand building tool.
As an industry, it’s time we put more into highlighting the fact that all TV is responsive; with multiscreening creating an opportunity to cultivate brand frame whilst simultaneously delivering the measurable uplifts in lead generation. In short, with sustained investment, brands can have the best of both worlds, all at once.
So, let’s rise to the challenge, and promote the merits of advertising on TV with as much gusto as the platform affords brands who invest in its ever-evolving capabilities.