Markets must evolve and adapt, responding to new innovations and demands in order to remain strong.
A clear example of this is the TV advertising landscape, which over the past decade has transformed into a platform perfectly equipped to support business growth for SMEs. The onus is now on such companies to embrace this change and grow with it.
In this new online climate where consumers are displaying savvier buying habits by researching companies and products extensively on the Internet, TV advertising plays a crucial role in ensuring companies can extract the benefits of greater brand interaction.
Here are five reasons why TV ‘s influence on business growth is stronger than ever:
- We are now a nation of multi-screeners, which for TV advertisers has two consequences. First, TV can now be viewed from anywhere and at any time. This means companies can reach TV viewers without the hurdles of time and space making things difficult – expanding coverage and facilitating engagement with audiences who consume TV away from the living room, notably young adults. Secondly, dual screen viewing means over two-thirds of viewers now regularly research a brand online after – or even during – the broadcast of a TV ad. This shortens the transaction journey and distinguishes TV as the new point-of-sale medium – one that creates opportunities for brands to boost online conversion rates.
- TV advertising has never offered such cost-efficiency. Agencies now have the resources to base targeted TV advertising plans on in-depth market analysis, allowing planners and buyers to pinpoint specific areas of opportunity by identifying TV channels, times of the day, days of week, programming and even postal areas best suited for capturing specific target audiences. This improves ad relevancy, with new technologies like Sky Adsmart permitting the use of individually tailored campaign strategies. And what’s more, we can now correlate individual TV spots with live web traffic to improve performance and reduce your cost per sale.
- Research from Thinkbox demonstrates how, whilst TV advertising carries short-term benefits, its impact is most keenly felt as a long-term investment. Successful TV advertising campaigns build reach and frequency over a prolonged period; the more times your ad is seen and the more people who see it, the more weight it exerts on a viewer’s conscious and the greater its share of voice becomes. To substantiate this point, Thinkbox found that, relatively speaking, TV advertising campaigns spanning a period of at least three years return double the profits compared to a campaign shorter than one year, though combining both offers even bigger fruits.
- TV advertising is the most influential medium. It gets us talking, stimulating debate and inviting strong opinion. This interaction appears both online and offline, with social media proving to be a particular hotbed of engagement where brand visibility can swell. According to research from Deloitte, 57% of UK adults regard TV advertising as the medium that has the greatest impact on perceptions of a brand and its values – TV allows businesses to tell their story, and we all love a good story. It’s why they’ve been told for millennia. More so than any other medium, it cultivates emotional connections between the viewer and brand, and at much greater depth.
- Finally, we’re watching 7% more TV than we were a decade ago, despite suggestions that platforms such as Netflix – which, incidentally, is only subscribed to in 14% of UK homes – will kill it off. Last year the average adult watched 3 hours 44 minutes of TV a day, 66% of which was commercial television content. This equates to 45 TV ads per person, per day. In one single day, commercial TV reaches 71% of television viewers.
If you’d like to hear more, call 0207 352 0555 today. Isn’t it time Guerillascope put your business on TV?