The average TV commercial costs between $3,000 and $25,000 to produce. Companies such as Geico, Domino’s, and T-Mobile spend considerably more, of course (as in, add a few zeros! Per ad!) but the point is that it costs considerable money to produce a commercial. Other than production, TV stations must run these ads, which also costs money.
A lot of research and creativity go into traditional marketing like TV ads. However, even after all that work, the ads that run are not always trackable. This means that it isn’t always easy to determine whether a particular ad is effective or not.
Enter content marketing—specifically social media video marketing. Livestreaming videos alone currently account for $2 billion in annual revenue for companies, and this is expected to quadruple in the next year!
The key difference between traditional marketing and content marketing is engagement. While traditional marketing can only offer information and output, content marketing like live video offers an opportunity to connect the product to the consumer and vice versa.
It’s time for businesses to truly capitalize on social media. Marketers are constantly trying to find ways to make ads personal, and live video cuts right to it with minimal cost—these free platforms offer perks that beat the production of any TV ad. At this point, a company is no longer selling a “thing” but an “experience.” Further, that company goes from spending thousands hoping it reaches its target market, to knowing the details of that free reach instantaneously.
If you are in the market to move your company forward, or to quickly scale your advertising, then ironically, it’s time to shrink your audience to one.
Not literally, of course, but the idea is right. Live video is the logical and profitable option for this, because although someone promoting a product might technically be speaking to thousands of people, it feels like they’re looking right at you and you alone. That personal touch is the key to not only drawing your target audience in, but creating a faithful following.