We live in very competitive times. The market is awash with countless products and services, many of them competing with each other. So it stands to reason that they all want to promote their wares in what many experts describe as “cutthroat” market conditions.
The established means to achieve these aims is through advertising. Advertising uses many forms of media such as radio, TV, social media, newspapers, magazines and journals. With such a wide range of choices, the question that springs to mind is which is the most effective and has the best return on investment (ROI).
The medium and the message
Calculating ROI on advertising projects can be tricky, as different media are suitable for different products and audiences. However, the most important aspect is the message that the ad is meant to convey. Ads that speak to the heart of the customer and strike a chord are the ones that can turn small companies into large ones. However, not many people know how to write such ads. Most business owners approach advertising with the goal of merely getting their name out. But there is no evidence to suggest that this will help in the long run. Most studies indicate that everything hinges on the message that is attached to the name.
To create an effective ad, advertisers should ask themselves the following questions:Is the message predictable?Is it catchy or is it boring?Is it credible or is it unrealistic?Is it relevant to the perceived need of the reader/listener/viewer?
Tempt a dog with a bowl of rice, and it will ignore you. Put meat in the bowl, and you'll have your pet’s undivided attention. A prospective customer is no different. So ask yourself what you’ve been putting in the “bowl.”
With ads, repetition is a key element. When you've identified a message that generates a positive response and you deliver that message continuously, your business will grow. Ads that are continued for a long period of time are much more effective than an ad that runs for, say, a week.
The type of advertising medium is also important. Each has its advantages and disadvantages, and they all have different target audiences. Here are a few examples:
Forms of advertising
Outdoor advertising/billboards: These have a high ROI. They reach more people for the amount of content put them than most other advertising media. But most are limited to a single picture or graphic and a few words.
Radio: In a media environment where the winds of change are rarely quiet, this medium has stood out strongly. Contrary to years of predictions, radio is alive and well.
Television: TV is the world’s favorite video. TV accounts for 90% of the average viewer’s video time. It is therefore a very effective advertising medium. There are two TV advertising media -- cable and broadcast. Cable TV ads offer the impact of moving images and spoken words and can be geographically targeted. Broadcast TV ads, in addition to moving pictures and the spoken word, have prestige added to the name. The disadvantage is that they cannot be geographically targeted. Nevertheless, they are very effective for companies such as Coca-Cola or BMW that have national and worldwide market presence.
Newspapers: The oldest advertisement medium has a hard time competing with electronic media, especially TV.
Magazines: Ads in magazines are very focused and very effective. Magazine ads have a high impact but are limited to a particular audience.
Internet and social media: In today’s digital world, brands can’t afford to overlook the power of Internet marketing. Within the context of Internet advertising, the social media is considered the highest ROI-generating digital marketing channel. It isn’t free, but it is significantly less expensive than traditional advertising methods. Perhaps that’s the reason that print media have been suffering for the past few years.
On the move: Vehicle wrap advertising
The medium of vehicle wrap advertising has very high rates of growth. Vehicle wrap advertising is the marketing practice of completely or partially covering (wrapping) a vehicle in a vinyl or other plastic-like material to advertise goods and products. It is essentially a mobile billboard.
Guy Yehoshua is the CEO of Cnaan Digital Printing, a leading company in the local vehicle wrap industry that has been in existence for 35 years.He says, “Vehicle wrap as an advertising medium is experiencing very strong growth. In 2019, the turnover of our company rose by 30% -- by over 100% since 2015. Along with newspapers and radio, we are one of the oldest advertising media. As far back as the 1920s, buses in London had wrap ads. They are popular because they are very effective. Today, the majority of the world’s population lives in cities, and these people constantly walk the streets or cruise the streets in vehicles. In addition, we live in the era of traffic jams, which means that drivers and passengers in jammed vehicles are constantly exposed to the surrounding wrapped vehicles. Prospective consumers are constantly exposed to moving vehicles. A single wrapped vehicle can generate tens of thousands of impressions on a daily basis with a very high recall rate among viewers. In addition, an urban dweller cannot ignore a wrapped vehicle parked opposite his or her home or workplace. A vehicle wrap will provide advertisers with maximum exposure to the general public.”
