How To Enter Tailored TV advertising in The New Year
Growing your business in 2018 is about finding new customers. And there are a whole lot of new customers in areas where you’ve never thought you could afford to reach before.
With the new targeted advertisings, think of it as pay-as-you-go TV advertising that targets your defined customer profile.
Like targeting a customer profile in Adwords but on TV by profiling information such as location, age, income, gender, marital status, profession, and buying habits, you can reach the selected audience at a fraction of the cost if you were doing typical terrestrial UK-wide TV advertising.
Sky AdSmart is the revolutionary approach to TV advertising which levels the playing field, so businesses of all shapes and sizes can benefit from the advertising impact of TV. With Sky AdSmart different ads can be shown to different households watching the same programme. This means brands and businesses can now advertise on national channels but to relevant audiences.
Advertisers are able to cherry-pick their audiences using thousands of combinations from age, location or lifestyle. All this means the power of TV can now be used to greater effect by existing advertisers, whilst becoming accessible for the first time to niche brands, small & medium-sized businesses (SMEs) and location-specific advertisers.
To figure out which markets are worth investing in, test your profile size to find out who and how many people you can reach with the budget you set.
In the business world, change may be inevitable, but growth is not. Business growth always depends on the strategies, the actions that you take to make it happen and the budget available. Regardless of the degree of market growth required to meet your particular business goals and objectives, the need for growth and a plan to accomplish it is fundamental to a successful business venture. Without it, you will leave your business vulnerable to market pressures such as increased competition or regional economic downswings.
A systematic approach is the best way to find a new TV market. Without it, you can waste a lot of precious resources — something a small business does not have an excess of. The following steps will effectively and efficiently guide you through the new TV market development process:
Define Your Target Market(s)
Do Your Market Research
Decide To Enter This Market Or Look For Another
Enter The Target Market
Step 1: Define Your New Target Market(s)
The first thing you will need to do as you begin your market expansion effort is to determine the demographics and the geographic location of your TV target market. Determine which of the following categories characterises your expansion efforts:
- Same Target Group, New Geographic Area
- New Target Group, Same Geographic Area
- New Target Group, New Geographic Area
Step 2: Do Your Market Research
Once you have developed a customer profile and identified the extent of your TV target market, then you can do some basic market research to determine the interest in your product or service.
- Do customers currently use your product/service?
- Do customers have a need for your product/service?
- What would customers be willing to pay?
- What other products/services would they be interested in?
Your market research is a very important piece of the market expansion process. The more you know about your potential customer base and your competition, the easier it will be for you to identify your niche in this market.
Step 3: Decide to Enter this Market(s) or Look for Another Target Market(s)
After you complete your analysis, you should have a good sense of the growth potential for your products or services and whether it is a sound financial decision. Your market analysis will help you make a “go/no go” decision, but don’t be afraid to rely on your instincts. You may see something about the market that isn’t easily identified with research data. Remember that the market analysis can only help you make a well-informed decision. There is always some degree of risk in any business decision you make. Taking well-informed risks is an essential part of being a successful business owner.
Don’t be discouraged if you decide not to enter this market. Look for another one. There are plenty of opportunities out there. You will eventually find the market with the right growth potential for your products or services.
Step 4: Enter the Target Market
After you have made the decision to enter a new market, your next step is to develop and implement a good strategic plan for promoting and delivering your products or services to that market. This plan should focus on three key areas:
Promoting your products or services. Develop a video-marketing plan that details how you will introduce and promote your products or services to the TV target market. Once you have created your video, you should include as many other channels to assist and compliment your campaign– Facebook Ads, Instagram Ads, Twitter Ads, your updates on your website, direct emailing and your sales force.
Since you are already in business, you should have some ideas of what has worked for you in the past, just remember your video-ads needs to be slightly different for each channel.
At this point the more you involve Numo group in this process after you have decided to enter into TV Advertising the better. We will be able to help you determine the best marketing method for establishing and increasing market share.
Delivering your adverting message to the customer. Smart TV advertising is not the silver bullet so don't forget any strategy these days needs to be combined with other campaign channels. If you are in retail and you are moving into more social advertising then you might want to consider influencer marketing, social-video advertising and remarketing via capturing users interests.
Cultivating market share and sustaining current business through customer satisfaction. As you begin to establish new target customers, you must remember to stay focused on meeting their needs. It is much easier to lose customers than it is to gain them. Find out what your customers like and dislike. Talk to them personally and ask them what they think of your brand, product, service, ads etc. If your business is driven by a desire to meet your customers’ needs, then you will always be successful in business and the unrivaled power of (Video on demand) TV, as well as established markets.
Please contact the office, if you want more on target TV (VOD) Video on Demand advterising.