5 ways to beat the TV ad price inflation
This article was written by Fall Off The Wall
TV ad prices are rising – or as The Drum reported, ‘a volatile TV buying market has pushed ad price inflation through the roof’.
Is the price of inflation keeping you up at night? Are you starting to think that getting on TV for the first time is further from your grasp? We’re here to put your minds at rest and offer some practical advice and actionable solutions that will have you sleeping like a baby.
The current state of play
According to the ECI Media Management Inflation Report, the price of TV slots increased 32% YoY in 2021, having fallen 12% the previous year, and The Drum has heard others estimate inflation as high as 40% YoY. – The Drum
Inflation is impacting all our lives right now, which is why we’re all having to be savvier. And for marketeers, whose budgets are already stretched, it’s more important than ever to ensure they invest smart and get maximum return. We’re not here to teach anyone to suck eggs, but we do know that the following guidance has helped all our clients make the most of their investment – that’s why we’ve built such long-standing relationships with them.
Tip #1 – Think beyond the TV screen
We speak to lots of brands that are producing campaigns in a disjointed way. Having to use multiple agencies or different in-house teams to produce separate assets for different channels is neither cost-effective nor time-efficient. By taking an all-screen approach from the beginning, your creative will work smarter across all channels, and you will streamline your processes.
It’s an intelligent methodology that we use to help brands advertise in a slick and clever way.
Tip #2 – Take a modular approach to maximise budgets
What does it mean to take a modular approach? Essentially, it’s building the creative with separate elements so that they can be switched out and updated easily. We have a modular approach we use that’s underpinned by our guiding principles, so that the adverts we create can be easily re-versioned and developed with new messages, offers and deals, offering more value and longevity with the same high level of creative production every time. This means your creative could potentially last for years, rather than just for a single campaign.
Tip #3 – Using creative-led methodologies
It’s easy to be driven by data and costs when it comes to your advertising, but it’s the creative that’s going to land with your audience and help to generate revenue. After all, if you can connect with them in a more meaningful way and create a spark that will cause them to react, your ad is going to massively increase your ROI.
Taking a creative-led approach to media, allowing you to be more relevant to your target audiences, is what’s going to make them more engaged. In short, don’t underestimate the power of creative.
Tip #4 – Working closely with media partners
To get the best value from both your media and creative budgets across all screens, you need to work closely with media partners. That might be easier said than done, so usually, it’s better to let your creative agency or partner do that for you. We have strong relationships with media partners, which means we can offer a fully integrated approach – it saves you the headache and means we’re getting you the very best deal.
Tip #5 – Meet your Advanced Booking Deadlines
Advanced Booking Deadlines were reduced last year, meaning that tighter deadlines increased the need for brands to be agile and quick to develop their creative. Of course, this offers flexibility too – but only if your creative team or partner can also be agile and flexible.
We’re always one step ahead in meeting AB deadlines with our robust ways of working, which allows us to offer you the flexibility to adapt your creative as you go.
If you’re looking to return to TV or advertise for the first time, speak to us about how we can make your budget go further – as well as how we can make sure you excite and delight your audience to create new fans of your brand.
Like what you see? If you fancy a chat about what we do, give us a call on 01582 881144 or drop us an email hello@falloffthewall.com. We’d love to hear from you!