The prospect of television advertising can cause a lot of hesitation in business owners, mainly because of the price. TV tends to be the most expensive form of advertising you can do, besides building a stadium and naming it after your business.
However, this doesn’t mean that you should rule out TV completely. Before you decide to opt in or opt out, you should consider some of the following things.
What’s Your Budget?
First things first, if you were to advertise on TV, how much would you willing to invest? Be completely honest with your figures as you answer this question, because it will help you create a much better campaign in the long run.
A good budget is one that allows you to do a TV idea properly, including both production and airtime. Some companies make claims of being able to do lavish commercials for next to nothing, or that they can get your ad a bunch of airtime on the cheap. However, a lot of the time, these claims sound too good to be true because they are.
For a better indication of what a TV budget entails, we recommend you download our free eBook below.
Have You Done TV Before?
Your previous TV-status isn’t relevant in the sense that you shouldn’t do it again if you already have in the past (or something to that effect). Rather, it is more of a way to get a better indication about how your TV advertising has performed in the past and what you can do differently.
Realistically look at your previous TV efforts and ask yourself some of the following questions:
- What did the ad do right?
- What did the ad do wrong?
- What was my media strategy like and how could I improve on it?
- What was my reach like?
- Did it achieve my business goals?
Just looking at these three things and talking about them with your advertising agency, you will begin to get a better idea of whether TV is right for you. If upon reflection you discover that TV didn’t really help you with your business goals despite doing the majority of things right, it may be that another medium would be a better match.
Are You In The Right Industry?
Certain industries lend themselves to TV advertising more than others. For example, industries that target a wide variety of consumers (such as fashion), work really well with TV. This is because there’s a good chance that there will be a strong return on the initial investment, simply because the ad can apply to a wide range of people.
However, industries that have a highly select target audience do not always do as well on TV. For example, if your business sells the coils that are used inside industrial-sized solenoids, then you would likely benefit more from a corporate video. Businesses that are focused on B2B sales usually do better with more targeted advertising that gets directly to their audiences.
A good way to see whether you are in the ‘right’ industry is to see what is already out there in the market. See if your competitors are doing TV and if so, if they are successful.
For a more in depth guide as to whether TV advertising is right for your business, please download a FREE copy of our eBook – The Ultimate Guide To TV Advertising In Perth
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