1) All TV and radio advertising is expensive.
TV and radio ads can be expensive. A 30-second TV spot for this year’s Super Bowl ad will cost 4 million dollars. But not all spots sale at full retail price. Think of the clearance rack at your favorite department store or the almost expired package of beef at the neighborhood grocery store. Well, there is the same type of offer when buying media- commonly referred to as “remnant buys” in the media world. Leftover inventory that was never sold can be picked up last minute for a fraction of retail price. There is also the option of a “PI” or per inquiry deal that can help hedge risk by paying the buyer for every call they generate for your company. So don’t be scared away from radio and TV just because Super Bowl ads are expensive.
2) Radio is dead
I was recently speaking with a successful entrepreneur that told me “radio is dead.” It never worked for him in his past attempts and he just saw it as a waste of time and money. He had attempted several local radio campaigns and never saw any success. Contrary, over the past month I observed a friend launch a new radio campaign. He had literally seen a handful of visits to his website over the past year. After running a decent number of spots on two national stations for a week he started seeing 700-800 visits to his site each day, with top days exceeding well over 1,000 visits. Radio is a great avenue for generating web traffic, but where you run and what you run can greatly effect success.
3) All media buyers are the same
Media buyers jobs can be more complex than just buying media. It’s not all about what you know, but also who you know. Some media buyers have connections to brokers or networks that may be stuck with a large amount inventory that they need to unload. That means cheaper spots and more spots for those of us on a budget. Media buyers buying remnant space often bid on remaining inventory, and these experienced buyers will know what you need to pay to come out with a positive ROI in your industry. I was recently at an conference and this topic surfaced during one of the sessions. An industry expert emphasized caution when choosing a buyer, as well as the importance of “liking” the partners you choose. When you enjoy spending time with your partner or agency the caliber of work usually improves and it’s just less painful getting things done.