How to Make TV an Effective Performance Marketing Channel
Television (in the traditional Broadcast meaning), for decades, has been a go-to medium for brands seeking mass reach and brand awareness. However, as digital marketing continues its dominance over investment decisions for media strategies, there has been a perception shift. While many brands leverage traditional TV as a highly successful awareness vehicle, many are starting to view it as ineffective with its lack of tracking. But as our experience has proved at MDG, TV can, indeed, be an effective performance marketing channel if used wisely. Here’s how:
Determine if TV is Right for Your Company
Before diving into TV advertising, ensure that it aligns with your business type and marketing objectives. Your advertising agency should be able to walk you through this process, and share their expertise working in TV to help you evaluate if TV is something you want to add to your marketing strategy.
For instance, with B2B companies, while TV might not be the primary choice, certain industries can benefit from this medium by targeting niche channels or timeslots. For digital-native brands, TV can be a means to reach a broader audience and drive them online, creating a synergy between offline and online campaigns.
“TV can be a powerful asset to any integrated media strategy, however, the first step should always be to evaluate if it’s going to work within your strategy, budget allocations and even industry,” observed Billy Boulia, Director of Integrated Media at MDG. “Lately, when traditional TV spots haven’t worked for our clients, we quickly pivot to CTV and it’s been very impactful. Overall, I tell our teams to embrace experimentation but with clear parameters so we aren’t wasting anyone’s time or money.”
Embrace Connected TV (CTV)
With the rise of streaming services and on-demand content, CTV is making waves in the advertising world. Here’s why:
- Improved Targeting: Unlike traditional TV, CTV allows for more granular audience targeting, ensuring your ads reach the most relevant viewers.
- Higher Return: With better targeting comes a higher likelihood of conversion, making CTV a cost-effective choice.
- Better Viewership: In certain demographics and regions, CTV viewership surpasses traditional TV, offering brands an opportunity to tap into a more engaged audience.
Prioritize Precise Tracking
One of the key aspects of performance marketing is the ability to track and measure results. Fortunately, with advanced analytics and integrations, TV can now offer better tracking of conversions, be it online traffic spikes post-ad airing or direct response metrics. Even though 45% of ad budgets globally are shifting to CTV channels, measuring the impact is still more challenging than expected. It’s a good sign that lots of ad budgets are incorporating CTV as it means the metrics will catch up shortly due to high demand. Until then, you can work with an agency that has experience in TV to help ensure success or do your due diligence and find out what you can measure and if that will be enough for your business.
Invest in High-Quality Content
Regardless of the channel, content is king. Ensure that your ads are engaging, relevant, and resonate with your target audience, especially when making a big investment. High-quality production values and high-quality audio combined with a clear call to action can drive increased results. Channel your inner Mad Men and get to work crafting something your audience will remember. Alternatively, there are plenty of stellar content creation companies that can help as well.
Collaborate with Experienced Agencies
To make the most of your TV and CTV campaigns, consider collaborating with an agency well-versed in both. They bring insights, expertise, tools, and strategies that you don’t have access to, or might be biased from another source, to ensure your TV forays are performance-driven. Plus, it’s in their best interests to help you create and implement a strategy that works so you can build a long-term, mutually beneficial relationship.
As Billy Boulia said, “In the world of advertising, evolution is key. And in today’s landscape, merging the reach of TV with the precision of digital can be the game-changer.” With the right strategies in place, TV can be a potent tool in a performance marketer’s arsenal, driving measurable results and elevating brands to new heights.