Owning a business is an endeavor worthy of the bumps and dips in the road to financial freedom. But those potholes in the road have left a trail of flattened businesses. More than half of all businesses don't make it to their fifth birthday.
More often than not, advertising and marketing are overlooked in the short-run. It can be seen as an avoidable expense, whereas payroll or lighting overhead is mandatory. Lack of exposure to a client base is a death sentence.
TV advertising, especially to your local market, is crucial to your success. This isn't an ad, read on to find out more.
TV Advertising On a Budget
Expenses can be tight. It might be tempting to give up your marketing division entirely. Don't be so hasty.
Advertising on a local network is perfect for penny-pinching entrepreneurs. Business owners might grimace at the word "advertising" because of its perceived cost. Most of them only know the statistics surrounding big network advertisements.
Local advertising can be done for a mere few hundred dollars or less - depending on your time slot. This cost will scale to the city's population - bigger cities, bigger costs.
For smaller businesses, this can be ideal, never mind the price. Local advertising reaches a scalable audience. You wouldn't want or need the reach of broadcast television.
That being said, perhaps you're looking to expand your business. Or make yourself a more renowned brand. It'll cost you around 100 times the cost of local.
Disadvantages and Advantages
With everything in business, television advertisement has its pros and cons.
TV advertising is abundantly more expensive than ulterior advertisements. Some alternatives, like social media influencing, is practically free. Print ads - due to its diminishing audience - is extremely affordable, even for blossoming firms.
Commercials are easily avoidable nowadays. People are streaming or recording their TV soaps, which allows for skippable ads. This makes your investment practically null and void.
Television marketing is also a horrible way to capture a relevant market. It's so broad and irrelevant to most people that see your advertisement. With other approaches, you can better target your clientele.
This isn't to say television advertising doesn't have its advantages.
If you're looking for a large reach, its a good method. An average American spends half of their free time in front of a TV. About 80% of the population has at least one set.
Compared to older forms of advertising (print ads, billboards, or radio), television engages the senses. A more engaging experience makes for a more memorable product.
Video advertisement also has the added benefit of easily affecting the emotions of viewers. Sad, dreary commercials have a bigger effect than a black and white photo. Video of groups of friends enjoying a beer will sell more than a radio ad about the same experience.
Stay Tuned for Profits
Television advertising is an overlooked aspect of a business, especially for newer firms. It's expensive and often not thought of as imperative. But that mentality will sink a company that writes off the importance of TV advertising and other related marketing channels.
TV advertising is cost-effective on a scale, depending on your reach. Television advertising also has its list of advantages and disadvantages that must be considered.
Are you looking to reach more customers and extend profits? Tune into the rest of our entrepreneurial articles to be the best business owner you can be!
