If you work in advertising, you know that it's harder than ever to capture the attention—let alone win the affection—of your desired audience. Your competition faces the same challenges, but if they have deeper pockets it can seem like an insurmountable advantage.
A more evolved approach to advertising budgets is one that allows you to capitalize on the hard work of your competitors, take advantage of their overexposed campaigns and ultimately reach the same audience, even if you can't afford a prime television spot.
Ideally, brand marketers divide their spend across television and digital. This combination maximizes reach and improves recall. With Collective's TV Accelerator, advertisers can target TV viewers on the Web by linking set-top data with online traffic data.
While this tactic is often used to supplement and increase the effectiveness of a TV buy, it can also be deployed to undercut a competitor with a digital-only campaign. And despite driving the same number of impressions, a digital video campaign generally costs a fraction of the price of a 30-second TV spot.
A competitor's overexposure provides another opportunity. There may not be a magic number for the amount of times an advertisement should be viewed—approximately seven is a common opinion—but there is a consensus that all ads are eventually a story of diminishing returns. Even a successful major campaign is likely to show limited results after 60–65 percent of the budget is spent.
Thus there's a great opportunity for savvy brands to piggyback on a competitor and then intercept its audience with a more appealing deal, a clearer call to action or simply a more memorable piece of creative.
Before attempting to steal a competitor's audience, it's important to understand how to target an audience effectively in the first place. Collective makes it possible for media planners to execute competitive conquesting while increasing the overall efficiency of their advertising spend, across all mediums and devices. Check out "The Upfront Guide to Buying TV Smarter":