The idea of advertising on TV and radio immediately elicits some strong reactions from many marketers.
“No, I can’t afford that. Do people really watch that s###? It’s such a gamble I feel like I’m in Vegas!”
Television and radio as mass market advertising has been key to the development of major brands around the world for decades. Direct response advertising joined the fray about 20 years ago and changed the medium forever. Another paradigm shift took place in the last decade with the advent of internet streaming services that offer radio and TV-type broadcasts.
These innovations have made TV and radio as advertising mediums obsolete, right? Au contraire! While the Millennials watch their favorite shows and listen to podcasts on their iPads and tablets, the core spending audience still watches a tremendous amount of TV. Yes, they may be tapping away on their devices while viewing the tube, but the advertising on the airwaves still reaches them.
With that being said, there are several ways to spend your money on the TV and radio marketing channels. Some perform better than others. To characterize these options, let’s put a Vegas spin on them.
Spot TV is where you buy a particular time/region/show that you want to advertise on. There’s still plenty of traffic you can buy on using this approach. You may do research on how well it performs with your demographic, market, product, etc., but it’s like playing War. Hopefully it pays off.
So you use software to help delineate the better medium for your advertising. You’re now counting cards. You have a better idea what you are dealing with but it’s still a gamble.
It may be cheap but there’s a reason for it: no one wants it. The conversions are simply not there. It’s like playing slots; you may win occasionally but you end up losing in the end.
The ultimate gamble: 1 out of 38 converts. I know I’m being extreme here but the odds are stacked against you. Some people do very well on radio and it’s still a great medium. I recommend it but only on an ROI basis.
Per Inquiry is advertising on TV or radio that you only pay on a per-call or per-sale basis. You hold the cards. You can get best of both worlds: branding as well as results-driven advertising. You can determine which stations work and which ones don’t. Payouts can change and you can make sure your ROI and investment are taken care of.
Now I’m not saying Spot and the other methodologies won’t work, especially if you have a great direct response agency that is a partner (note the word “partner”). The agency can design some great marketing plans that can net you and your company some tremendous ROI. If you’re doing it in house, then be careful what you wish for.
Like Vegas, gamble carefully.