People still watch TV and read print
Television advertising still accounts for 25% of total media ad spend even here in 2021, when there are tons of other digital advertising options, according to eMarketer. Surprisingly, millennials report placing print ads in high regard, according to a Quad study that found over 50% pay attention to catalogs and magazines.
In a recent article for McKinsey & Company, authors Marco Aukofer, Thomas Bauer, Cody Butt, and Priya Rammohan reaffirmed that television is still a relevant medium. It remains the largest advertising vehicle in the world and is particularly effective at reaching mature audiences.
According to a report in Marketing Charts, people in the 50-64 and 65+ age groups spend five to six hours a day watching television. It’s an audience ripe for the picking, if you provide a products or service that they might utilize. Local business owners should pay special attention to this opportunity, as seniors tend to do more brick-and-mortar shopping, locally, rather than sourcing everything online.
Angela Mertz, the vice president of integrated media at EGC Group, concurs, “Audiences remember the ads they see on TV the most. There is really no match for the credibility and brand building that TV advertising provides to local businesses.”
Booking local TV ads is relatively inexpensive
Serial entrepreneur and founder of BusinessTown Bob Adams suggests that local cable is a solid option for small businesses looking to reach local customers, since costs aren’t as outrageous as those days when TV had little competition for ad dollars. Adams points out that subscribers to local cable stations generally have more disposable income. If you own a business and are considering television, these upscale customers might take an interest in what you have to offer if they see an ad on their local stations.
How to go Hollywood
The authors of the McKinsey & Co. article point out that with the guidance of an agency, businesses will see significant savings and reach higher levels of sophistication in the planning and execution of their television advertising campaigns than those who either go it alone or employ the assistance of a freelancing friend who has an NYU film degree.