Why would a digital business run television ads? This question has come up a lot since we announced our commercial will be running on CNBC as of Wednesday, September 16th (Check out the Hawke Media commercial)
The answer is simple. There is no better platform than television to get the requisite number of impressions in the shortest amount of time.
The key is to start with digital first. Most digital marketing channels allow you to be incredibly iterative. Test your messaging, test your funnel, test your product, and do so with minimal incremental spending.
Once you see the following results from your digital tests, you are ready for Television:
- The conversion rates you want
- A lifetime value and retention rate of a customer that works
- You have a great lead nurturing system (Television is about impressions, which will drive attention, but then you need to continue to communicate through email and retargeting if you ever hope to convert)
- Your messaging is honed and tested
Most of the people and CEO’s I have discussed this strategy with have a very common response, “Isn’t that really expensive?” The honest answer is no. You can test a well executed television campaign for your business for as little as $10,000. This budget will allow you to generate the proper learnings to quantify if televisions will be a successful channel.
Major e-commerce companies like The Honest Company and Dollar Shave Club spend the majority of their marketing budget on television. This is due to the fact that they determined that television is the best medium to get their message across at the most efficient price possible. If you are at the point you are looking to scale significantly, there is still no better place than television. BUT, always make sure you have your digital strategy honed first.