In order to create a successful TV ad, you need to have a budget that fits with your business' finances while also providing sufficient resources to create a good quality deliverable. Although you may consider producing the TV ad yourself or using other radical cost-cutting strategies to save money, this often leads to a poor quality result that reflects badly on your brand. Rather than trying to create a TV ad for the lowest price possible, you need to work from a thoughtful, well-planned budget instead. Below you will find several tips to help you create a successful TV budget.
Tips for Setting a TV Budget That Will Deliver the Best Results
1. Know your target audience
Every TV advertisement is aimed at a specific audience. Ideally, this should be the audience most likely to connect with your brand and become your customer base. Understanding the identity of members of your target audience helps you to create an advertisement that will resonate with them. To get an idea of how your advertisement needs to look and how it should be delivered, ask yourself the following questions about your target audience:
- Who are they? Take note of your audience's age, gender, occupation, and any other relevant identifying characteristic.
- Where they are located? Understanding the location of your audience will help you target your advertisements to the right region.
- What are they watching? Knowing the types of programs your audience is most likely to watch will help you decide which networks to use to distribute your advertisements.
- When they are watching TV? If you know your target audience is most likely to be watching TV on a certain day and/or at a certain hour, you can make sure your ads run during those times.
- How are they consuming their programs? Understanding the services your target audience uses to consume media will help you deliver your ads to them effectively.
2. Define the desired outcome for the advertisement
When creating a TV budget, you need to define your objectives for the advertisement. To define these objectives, ask yourself the following questions:
- What message are you trying to get across?
- What is the goal of the TV ad?
- What will your call-to-action be?
- Are you highlighting your business as a whole or a specific product/promotion?
3. Make sure your message is clear in advance
If you want your advertisement to be successful, you need to make sure the message you send to consumers is clear and concise. For example, if your call-to-action (CTA) is too subtle or difficult to understand, the ad won't be as effective. Likewise, if you try to cram more than one message into your spot, consumers may miss out on all of them. When creating a TV budget that will deliver results, you need to be zeroing in on one message and making sure it is the ad's sole focus.
4. Determine the length of your ad
One of the most important budgeting tips for TV involves selecting an advertisement length that is no longer than necessary but not too short to get your message across. Your advertisement length should be determined by your overall goal and objective. Ad spots will differ depending on what you are trying to achieve because certain objectives require different amounts of time. By working with a media company, they are able to help guide you through the process of determining the length based off of what you want to see and their expertise.
5. Determine what type of advertisement your business needs
The specifics of the advertisement you create will have a significant impact on the budget. For example, if you need to hire actors and/or rent a location, your expenses will increase. On the other hand, if your advertisement can be created digitally, you may be able to spend less.
6. Break down your costs and decide where to allocate your funds
After you have an idea of how your TV ad should look, you need to allocate funds to different aspects of ad creation, such as talent, script, production, and post-production. Some of these components may require more of your attention and money than others. For example, a strong script can capture the audience even if other aspects of production are low-budget.
7. Set very clear expectations for every phase of the process
Another of the best practices for setting a TV budget involves making sure your expectations and goals for every phase of the ad creation process are clear. Put these expectations in writing so you can refer back to them later.
8. Work with a trusted media company to streamline the process and stay within budget
One of the most successful TV budgeting tips is to work with a trusted media company. An experienced company with a solid reputation can help you accomplish your goals while staying within your budget.
Creating a successful TV budget requires careful planning and execution. With the tips above, you can develop a budget that fits your needs. In addition, working with a media company that is skilled in working with multi-media strategies will help you maximize your budget and improve the efficiency of the entire process due to their knowledge in all landscapes of media.