We've all been there. The excitement of seeing a favourite show like 'The Block' gain popularity and wanting to leverage that momentum to advertise your brand. But is that always the right strategy for your budget? This piece dives deep into the complexities of TV media schedules and the golden question: Reach and Frequency or Show-Specific ads?
Understanding Your Audience
Picture this: You've identified that your target audience is glued to 'The Block'. It might seem logical to capitalise on this interest. After all, why invest in shows that aren't on their radar, right? But TV advertising is not always that straightforward.
The Cost of Popularity
Last season, 'The Block' was a sensation. It was the go-to show for the 25-54 age demographic, with viewers even catching missed episodes on VOD platforms. This led it to consistently clinch the #1 spot nationally on Free-to-Air. Sounds like a dream slot for your ad? Here's the catch. A 30-second slot would cost you around $50,000. With a CPM of $150+, if you factor in the need for your audience to view your ad multiple times (frequency), even medium-sized businesses might break a sweat looking at the final schedule cost.
Introducing your ad on the VOD platform, with its appealing $65 CPM, will save you some bucks. It broadens the chance of your audience viewing your ad and is more budget-friendly.
Exploring Other Avenues
High demand and steep prices are often the fate of popular programs. So, what if your budget isn't up for it?
This is where a more holistic approach, emphasising both reach and frequency, comes into play. The experienced media specialists at MPA, can introduce a suite of hand-picked programs to your schedule, ensuring consumers engage with your ad across their viewing journey, making sure there is effective audience reach and frequency of message. Such an approach could mean partnering with a single network, such as the 9 Network in our example, to tap into both Free-to-Air and VOD services, maximising potential discounts and offers.
The goal? Achieve the perfect balance between audience reach, CPM, peak-to-off-peak ratios, and rate negotiation. You might feel the FOMO of missing out on 'The Block', but this strategy lets you tap into a broader audience at a much greater cost efficiency.
The Power of Programmatic TV Buying
TV advertising isn't complete without mentioning programmatic buying. This approach lets you hone in on super-targeted strategies, such as positioning your ads against competitors or targeting viewer behaviours across networks. Imagine having an integrated campaign that's optimised across all fronts! If this sounds exciting, we're here to dive into the details and introduce you to the world of innovative TV-buying tools.
TV media planning is both an art and a science. While the allure of popular shows like 'The Block' is undeniable, it's essential to consider the broader picture. A balanced strategy, considering both reach and frequency, could be your ticket to achieving maximum ROI on your advertising spend. Dive deep, consider all options, and always be ready to adapt. The perfect media schedule is out there waiting for you!