Society is changing. Disillusioned with life as part of a business eco-structure that places great emphasis on rewarding multinational corporations whilst neglecting the rights of those working for such entities, more and more people are deciding to go it alone. Becoming the masters of their own destinies, start-up figures continue to soar year-on-year, with 2014’s upsurge of 3.9% a new record.
As this cultural trend gathers pace, so to does the evolution of the TV advertising industry. Once widely seen as a venture exclusive to elite companies with masses of surplus revenue, over the past decade the market has been remoulding itself to meet the demands of this changing social landscape. So what exactly has changed? Why is TV now in a position to address the bespoke needs of SMEs in the UK?
1. There is now more choice than ever before when it comes to what we want to watch, and how we want to watch it. The explosion in multichannel TV content continues to create new opportunities for advertisers to reach audiences with niche interests and lifestyles, whilst the multiscreen TV viewing trend sees viewers engaging with products and services on a deeper level; often by simultaneously researching the brand on another device as the ad airs. Dual-screening also condenses the transaction journey for added convenience: viewers can now purchase a product before the TV ad promoting it has even finished!
2. As TV viewers become more engaged, concurrently TV advertising is becoming more targeted. In other words, media agencies now have the capacity to pinpoint specific audience groups of significance to your brand through analysis of viewing figures by TV channel, programme, time of day, day of week and post code. This improves cost-efficiency by reducing what in the industry is called ‘wastage’ – or in other words, viewers of no relevance to your business model – whilst boosting response rates.
3. TV advertising delivers both in the short term and long term. Research from Thinkbox shows that TV advertising campaigns running for longer than three years increase company profits by an average of 140%, with just under 50% of all sales materialising after the first year of activity. This demonstrates how a long-term, focused approach can pay dividends for a brand, and with TV rates approximately 20% lower than they were a decade ago, achieving this success won’t cost the earth.
4. TV advertising influences perceptions of a brand like no other medium, with 57% of UK adults stating that television advertising has the biggest impact on their opinions of a product or service. TV also gets people talking, with ads now often a part of both face-to-face and social media conversation. This equates to free publicity driven by TV, with endorsements from people whose views we respect perhaps the most effective marketing tool available to businesses.
5. Don’t believe the harbingers of doom predicting TV advertising’s demise. The fact is, the average UK adult watched 45 TV ads a day last year and 3 hours 44 minutes of total commercial TV content. We can now watch TV at any time and from anywhere, a capability that has led to a 7% increase in viewing compared to a decade ago.
Ultimately, although TV advertising will not be for every SME, for those with the business model and ambition, it can be a completely revolutionizing decision that changes everything. So, if you’re looking for a flexible marketing portal that delivers the visibility and response your business craves – all whilst keeping costs under control – then why not call London-based targeted TV agency Guerillascope
today on 0800 357 675 or visit their website: http://www.guerillascope.co.uk/.