How much does it cost to advertise on TV or radio? What kind of return can you expect from advertising?
Advertising has always been a major part of our lives. Whether it was through billboards, newspapers, magazines, television, or radio, ads have played a huge role in shaping our culture. In fact, they’ve become such a big part of our everyday life that we often don’t even realize that they exist.
Advertising is a form of marketing where companies pay to promote their brand or products. The goal is to get consumers to purchase their products. There are two main types of advertising: paid (or sponsored) and earned (or organic). Paid ads are usually seen in print media, whereas earned ads are found in social media platforms.
Sponsored Ads
A company purchases an ad space to promote its product or service. These ads appear alongside articles or other content, but may also be placed at the top or bottom of pages. They’re typically very high-quality, using celebrities, athletes, or other popular figures as endorsers.
Earned Media
An advertiser pays for people to share information about their brand or product via social media sites like Facebook and Twitter. This type of advertising is commonly called earned media because users must “earn” the right to post by sharing content with friends. Earned media is one of the most effective ways to reach customers directly.
How Much Does It Cost To Advertise On Television Or Radio?
It depends on the size of your budget, how many viewers/listeners you want to attract, and what medium you choose to use.
TV Advertising Costs
In 2017, the average cost per thousand impressions (CPM) for national cable TV networks was $3.50. For local cable TV stations, the CPM was $2.40.
Radio Advertising Costs
Radio costs vary based on the size of your audience, the time of day, and the frequency. A typical commercial radio station charges anywhere between $1-$5 per 1,000 listeners.
What Kind Of Return Can You Expect From Advertising?
To calculate ROI (return on investment), advertisers compare the amount spent on advertising against the number of sales generated. If you spend $10,000 on a campaign, and you sell 100 units, then your ROI would be 10%.
If you spent $100,000 on a campaign and sold 500 units, then your ROIs would be 5% and 20%, respectively.
Advertisements
Advertising is everywhere. From billboards to television commercials, ads are a part of our daily lives. They play a major role in influencing our purchasing decisions. In fact, they are responsible for almost half of all consumer spending.
Types of Advertisements
There are three main types of advertisements: paid, earned, and owned.
Paid Ads
These ads are purchased by businesses who wish to promote their brands or services. They’re typically very expensive, so only large corporations can afford them.
Earned Ads
These ads are shared organically by users across social media platforms. They’re free to use, which makes them ideal for small businesses.
Owned Ads
These are advertisements that are created by businesses themselves. They’re similar to earned ads, except they don’t have to be shared.
Why Is Advertising Important?
Advertising is important because it helps companies grow their business. Without advertising, there wouldn’t be any new products or services. Companies rely on advertising to make money, and without it, they’d go out of business.
Who Uses Advertising?
People use advertising to learn more about a particular topic, find new jobs, and buy things.
How Do People Use Advertising?
People use advertisements to learn about different topics. They may watch an ad while browsing through online news articles or read a magazine article about a certain subject.
They also use advertisements to find new jobs. Many job search websites offer paid ads that help employers find qualified candidates.
They also use advertisements to purchase items. Popular shopping apps like Amazon allow shoppers to browse items and get recommendations from other buyers. When they click on a link to view a specific item, they see an advertisement that offers additional details about the product.
How Much Does It Cost To Run An Advertisement?
The price of running an advertisement depends on several factors, including the type of medium used, the target market, and the desired results.
For example, if you want to advertise on Facebook, you’ll pay less than if you wanted to run an ad on Google.
You could also choose to advertise on multiple channels at once, such as TV, radio, and print. This will increase your overall cost, but it’s worth it if you plan to reach a broad audience.
But advertising isn’t always positive. Some advertisements are misleading or even downright deceptive. And some companies spend millions of dollars to get their message across.
Here are five of the worst examples of advertising gone wrong:
1. Volkswagen Beetle
Volkswagen’s famous Beetle ad campaign encouraged drivers to buy the car simply because it was fun to drive. But after the company was caught cheating emissions tests, the ad became a source of embarrassment for them.
2. McDonald’s Happy Meal
McDonald’s has been criticized for years over the toys that come with kids’ meals. The fast food chain originally included plastic toy guns in Happy Meals, which were later replaced with plush dolls.
3. Pepsi Max
Pepsi Max has been accused of promoting obesity among children. The soda company’s tagline “Drink more, eat less” suggests that drinking the sugary beverage will help dieters lose weight. But critics say the slogan encourages young consumers to drink large amounts of sugar.
4. American Apparel
American Apparel has long been known for its provocative clothing designs. However, the company has recently faced criticism for using models who appear underage in their marketing materials. The controversy led to an investigation from the Federal Trade Commission.
5. Kellogg’s Corn Flakes
Kellogg’s Corn Flakes have been around since 1906. But the cereal giant has only been able to maintain its position as one of America’s top cereals by consistently coming up with new flavors.
6. KFC
KFC has become synonymous with fried chicken. But the fast-food chain has also been criticized for its unhealthy menu options. One study found that eating just two pieces of KFC could add up to about 800 calories to a person’s daily intake.
7. Diet Coke
Diet Coke has been accused of deceiving consumers into thinking that it is healthier than regular cola. Critics claim that the soft drink contains artificial sweeteners that can cause health problems such as headaches and nausea.
8. Nike Air Jordan
Nike Air Jordan sneakers are considered some of the most iconic shoes ever created. But the sneaker company has been criticized for its controversial marketing campaigns. For example, when Michael Jordan first appeared in his signature shoe, he wore a visor while playing basketball. After seeing this, many people thought that Jordan was trying to hide his eyes so that he could not be seen. This made him look like he had something against eye contact.
9. Listerine
Listerine has been on the market for decades, but the mouthwash company still maintains its reputation as one of the best. In fact, Listerine is probably better known today than it was before. That’s because the company spent money on television commercials that helped make it a household name.
10. Ford Pinto
Ford Pintos may have seemed like a good idea at the time. They were smaller, cheaper cars that appealed to younger buyers. But they turned out to be fuel guzzlers – and now Ford must pay $1.6 billion in fines to the government for misleading regulators and consumers.
11. General Motors
General Motors faced heavy criticism after announcing plans to cut 15 percent of salaried workers at its Lordstown plant in Ohio. GM blamed its financial struggles on poor sales of small cars.
Conclusion
Advertising is an important part of our culture. It helps us form opinions about products we use every day. And advertising works — or at least it used to work. Nowadays, companies spend millions of dollars to create ads that influence what we buy. But these ads aren’t always effective. Sometimes they’re even counterproductive.
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