Given the amount of money that goes into the design of your brand, products and website, it would be a huge shame if this was to be let down by a poorly devised or ill-matching advertising strategy. Not only would this undermine any investment that you had previously made in your brand, but it may also confuse your consumer base and cost you future sales.
There is no real excuse for this either, particularly when you consider the diversity of advertising channels now available in 2016. By taking the time to understand the philosophy behind your brand and the products that it sells, you can choose a viable advertising strategy that helps you to get the most from your commercial investments.
What are the best advertising channels for your Brand?
To understand this in greater detail, let’s take a look at the three primary advertising methods and consider which one is suitable for your specific brand: –
Television advertising for premium brands and Projects
Although Internet viewership figures grew by an estimated 60% at the beginning of last year, it is fair to say the television remains a dominant advertising medium. While this will continue to change gradually over the course of the net three years, an estimated 141 hours of television are still watched each month in the average household.
The issue with television advertising is cost, as a significant investment is required to deliver a return and target specific consumer segments. With production and procurement costs ranging between £300 and £1000 for a simple, 30-second local spot (and £200,000 for air-time on a national channel), it is apparent that television advertising is not suitable for everyone in the current climate. Prime time television slots can cost up to £350,000, so expenses can quickly accumulate if you look to run an on-going media campaign.
In this respect, television advertising is most suited to established and well-resourced brands who are marketing products that can either be sold in high volume or have a premium price point. This enables television slots to be booked without compromising on your margin, particularly if you are able to target specific demographics through designated channels.
Television advertising also works well with innovative products, particularly if their unique selling point can be easily demonstrated through the visual medium.
Radio slots help brands to explain and effectively sell services
Radio represents another traditional advertising channel, and another that has become increasingly underrated in the digital age. Make no mistake; however, radio adverts continue to offer value to specific brands, while it also offers significant advantages in terms of cost and reaching older demographics.
Although the price of a specific advertising package will vary according to individual times and stations, you can easily calculate which option will deliver the best return. Each station has its own media kit detailing core time slots, their costs and a profile of its listener base, for example, and this information enables you to estimate a CPT (cost per thousand listeners) and potential return. This helps you to operate easily within a smaller budget, while it also makes it easy to measure the impact of your campaign.
Ultimately, radio is ideal to lower and mid-range products or brands that are looking to clearly communicate a service. Although you will sacrifice the visual impact of a television advertisement, you can create a focused and concise script while utilising audio effects to promote unique selling points. It is also easy to include clearly-defined calls to action, which are crucial when marketing specific services.
The fact that it enables brands to accurately plan their budget will also appeal to small and independent businesses, particularly those active in the financial or professional services sector.
Get Digital with Videos-on-demand (VODs)
For modern business-owners, the concept of VOD is recognised as a key driver of advertising and marketing campaigns. While this is undoubtedly the future for advertising, it remains a relatively niche channel that must be used carefully if marketers are to achieve their goals.
VODs offer a huge advantage in terms of cost, as they are similar to radio in that promotional adverts are typically charged at a fixed per thousand views. The creates calculable and measurable returns, helping you to adapt your strategy as required over time. This medium also offers far greater flexibility and fluidity, as rather than being bound by specific time-slots brands can leverage third-party resources such as Vimeo and YouTube to drive global, real-time sharing.
So who would benefit from VODs? In short, just about everyone, but this accessible channel is most suited to independent business-owners and companies that are looking to release quirky, non-premium or experimental products. It will also appeal to brands that have not yearly defined a target market for their product, as they can easily create a 15 to 30 second VOD slot and share these though numerous online channels simultaneously.
Finally, VODs also offer an excellent resource as a supporting advertising channel for larger campaigns. You could create short, relevant and impactful spots which are hosted on YouTube and embedded across various websites, for example, before linking these to a more traditional advertisement. This is a low-cost step, and one that may help you to spread your marketing message further!
Is there anything that you think we may have missed in this post? If so, feel free to share your thoughts below!