Having spent the last 16 months in different levels of lockdown confined to our Island home there is a feeling that Brits will be queuing to book their next holiday and hurtling towards the departure gates. However, with so much uncertainty in the market can we make that assumption?
As marketeers we can often find ourselves chasing demand rather than creating it, becoming complacent, waiting for the searches to start and our retargeting strategies to kick in. But this reactive marketing is leading to diminishing returns and the brands with the largest pockets or lowest prices winning.
We measure clicks, likes and shares and spend £1m's on SEM and SEO waiting for the intent data that tells us someone is ready to purchase. Bidding to appear alongside 4 competitors at the top of a web page. Fighting for that last click in a cluttered and noisy environment where we win or lose the customer based on price or brand.
At any given moment there is a finite amount of existing market demand. So if you’re not out there creating demand, someone else is going to do it and they’re going to win your customers.
Yes, focusing on existing demand may seem like the lowest hanging fruit but in more mature digital markets such as travel it can require a high investment, minimizing profit and exacerbating a race to the bottom.
So how can you get ahead of the competition and create demand.
What if the playing field was level and you had 30 seconds to share your message with video, images and sound? To create a connection with a consumer in their home, to speak to them, to inspire them and direct them to your product or store.
TV advertising can reach 70% of the population in a single day and global studies have shown a 60% likelihood of buying a product when influenced by a TV advert. There is no better media for creating demand, plus TV creates 62% of short term profit from advertising across all categories.
It's not just for those with the largest budgets either, 888 advertisers spent less than £50k on TV in 2020. In addition, TV advertising has never been more affordable, the average cost of buying the media space to get one adult in the UK to see a TV advert costs just 0.6p
To capitalize on the market reset travel business need to market to the 99% of consumers who aren't actively buying. To create awareness. To evangelize the category. To drive differentiation. To influence product consideration. To CREATE DEMAND.
TV will allow you to win a customer higher in the funnel by CREATING DEMAND speak to us today to find out more
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