But does TV still work? Does it hold as much promise today as it did earlier?
IS TV DEAD?
TV has almost become a dirty word in today’s marketing world. Most people, especially the younger generations, seem to be spending all their time online. So who is watching TV?
According to the Association of National Advertisers, a survey done on US marketers showed that 62% of them believed that TV advertising had become less effective in the last couple of years.
However, they were in for a surprise as according to Deloitte’s 2009 State of the Media Democracy report, Americans were watching 18 hours of TV in 2009 as compared to 16 hours in 2008 – and 26% more people in 2009 than in 2008 choose TV as their favorite media! According to the 2009 Three Screens Report of Nielson, Americans were watching more TV than ever before. Out of the three screens, i.e, TV, internet and mobile, the former beat the others hallow, be it UK or USA. The Institute of Practitioners in Advertising (IPA) comes out with the most thorough surveys of media habits of consumers. According to its Touchpoint 3 survey, people in UK too were watching 3.7 hours of TV daily as compared to 1.8 hours of internet. In India, where TVscreens are more common than other screens, it’s definitely TV that wins!
The one gadget that is owned by most of the population of any country is TV. Also, the number of TV’s in each household is increasing. Some say that youths are watching less TV, whereas data suggests that historically, youngsters have always watched less TV and there has always been a positive correlation between age and TV viewership.
While it may sound trendier to talk of online and emerging media, the fact is that nothing motivates consumers to buy like TV spots can! So Fox Network focused on selling its TV spots and not its digital platform. Unlike other TV networks like NBC and CBS, who went to marketers with presentations showcasing not just their TV media but digital too, Fox decided to focus on only its TV networks. Their logic was simple. Nothing motivates a consumer to buy like a TV spot can.
According to a customized research done by the firm Marketing Evolution, TV accounts for almost 70 percent of the impact on a consumer’s purchase decisions. It’s an undisputed fact that the mass reach of TV and the power it has to build mass awareness is leaps and bounds ahead of any other media, be it radio, internet, out-ofhome or even cinema. This was reconfirmed by Price water house Coopers in a study to find the correlation between brand value and communication effectiveness. Out of all the forms of media, i.e, TV, press, internet, radio, direct mail and outdoors, the study concluded that on an average, £1 million increase in TV marketing investment yields £4.5 million in sales. There was a very high correlation between increase in brand value and advertising investment on TV. It just proved one old fact – nothing can build brands like TV can. Read More....
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