In the United States, I have been running television ads on CNBC and Bloomberg for NP Digital over the past month (4 weeks).
These channels are stock channels, if you don't know what they are. To be even more precise, I run my ads during stock market hours, which are from 9:30 AM to 4:00 PM eastern standard time.
Sometimes, ads will air a little before or after the market opens. But that is about the time they air. They only air Monday through Friday, which is the time the stock market opens.
Before I get into the details of how the ads performed let me first give you some background information.
My theory behind TV advertising
Online advertising is getting more expensive. Look at Facebook and Google. It costs more to run an advertisement now than it did last year.
- Google and YouTubeAdded 108%
- FacebookThe average CPM was $11 and had an 89% increase.
- TikTokA 92% increase in sales
- SnapchatWith “the lowest”, a 64% increase
Why not do something different?
People run ads for clients in the advertising industry, but nobody runs ads on TV themselves, at least not in the United States.
Our team decided to give it a shot and take the plunge.
It could also provide an ROI as we are an ad agency that sees a lot of data. For many of our customers, TV ads are a more expensive option than Facebook ads and less expensive than Google ads to gain customers.
We thought it would add credibility. is only 4 years old, and even though we employ 450 people worldwide. Mostly because bigger brands are more likely to work with larger companies.
Even though we have big brands like Adobe, Western Union, or Sofi at our ad agency… and have won dozens marketing awards for the work we do, we still are small in comparison to agencies like WPP which generate approximately $12 billion annually in revenue.
In the business world, it is a common saying that you won't be fired for hiring IBM. It's the same with hiring large holding companies brands like WPP, Dentsu or Omnicom in marketing.
Slowly, it's changing as people value results more than anything else. Marketing is no exception.
My thought was that NP Digital TV ads would drive leads and help build our brand. I want people to remember that you don't get fired if you hire NP Digital.
We ran 3 commercials.
These commercials were shown randomly across the 3 channels, with a close to even rotation over the duration of the 4 week period.
We wanted to increase website traffic, leads and branding by including our URL at the end.
Personally, I thought the ads were funny and clever. They also made us seem like a large agency.
It is important to remember that not all bald people were advertised. One woman wore a baldcap, while a few men wore a baldcap. So everyone could look a little like me.
These are the results
Here's an example of one week:
The cost of my visit was approximately $69.11, which is quite expensive.
We were able to tie leads from TV commercials for a staggering 0.
However, our brand inquiries did increase.
They were basically working from the end. People would then watch the commercial, search for “NP Digital” in Google, and then head to our website.
However, we still had 0 leads at the very least. Unfortunately, our tracking was not perfect.
A lot of my friends messaged to me saying that they had seen my commercial.
Even a person emailed us to say “bloody incredible commercial.” Although they weren't interested, it was nice to get the email.
Do I want to run TV ads again
TV advertising works for many businesses, particularly DTC ecommerce firms.
It wasn't, however, the most efficient for us.
Here's the funny part. They will still be run by me. It's something I would like to continue for another 11 months.
I believe in branding.
Think about shoes. You don't know the brand Nike, but you do know that you can buy them.
Same goes for Visa, BMW and Louis Vuitton.
Branding is priceless, and you must invest in it if you want your business to grow.
Here's an interesting stat: Did you know that people search for “Nike”, in the United States, on Google more than for “shoes”,? This is the power of branding.
My goal or rather, “hope” is to see us recognized by more people after we have spent $1.2 million. It will also help with the rule 7: Companies who interact with your brand seven times are more likely to spread the word and sign up for it as a customer.
I will also try to adjust the time the ad runs and possibly the channels.
I will eventually adjust the creatives and test new ads. But I will still run the three above for at most another quarter.
You must build a brand if you want to become a large company.
Brands are priceless. Your brand is what will get you more business over the long-term.
You don't have to do TV commercials to build your brand. You can use any channel. There are many options, from SEO to social media to TV. Even providing amazing services or building a product can help build brands.
Ask yourself why you are making a purchase the next time. You are likely familiar with the brand.
59% of consumers prefer to purchase new products from brands they know.
Do not take branding for granted.
My agency can help you with branding. My agency can help you with your branding.
What do you think about my TV commercials?
By: Neil Patel
Title: What I Learned by Spending $100,000 on TV Ads
Sourced From: neilpatel.com/blog/lessons-tv-ads/
Published Date: Tue, 17 Aug 2021 02:18:21 +0000