The Million Dollar Question: Which Advertising Medium Provides the Greatest ROI? by Nicole Valentin
A recent study of over 4,500 advertising campaigns from the last 7 years has found that TV advertising remains the most effective form of advertising and creates the highest return on investment over any form of advertising.
The benefits of TV advertising includes the ability to reach a mass audience during a time when consumers are more attentive, it allows the advertiser to convey their message through sight and sound to evoke an emotional response which helps in giving your business or product credibility. It also gives the advertiser an opportunity to be creative and attach a personality to their business, which can be particularly effective for a small business that relies on repeat customers.
TV will remain the dominant advertising channel, making up 38.1% of total media spending in 2014, and spending on the medium will continue to outweigh that of the nearest competitor, digital, through at least 2017. Advertisers and media buyers still look to TV to provide them with predictable results for their investments.
TV ads tend to influence audiences more than ads in other media, providing impact along with reach. It’s impact has the capacity to sway consumer behavior.
While one of the negatives of TV is it’s high out-of-pocket costs, small, local businesses can still find low cost opportunities in local TV through programs such as business spotlights, where the TV station will send a production crew out to your business to shoot footage, conduct interviews, etc. to run during local programming. Additionally, a good low-cost alternative is purchasing local cable which offers a wide variety of programming and many, these days, with big ratings to match.