It was perhaps inevitable that during a recession, the most expensive form of advertising media would suffer first and suffer hardest. Commercial TV channels have certainly felt the effects of reduced marketing budgets more than most, to the extent that Thinkbox, the television marketing body made up of stakeholders such as ITV, Channel Four, Five and Sky have created their own TV advert, advertising the very media upon which it’s appearing.
An advert advertising advertising? It might sound odd, but TV media is a saleable product just like any other and it’s great to see that Thinkbox are taking a pro-active approach to fighting the effects of the recession. Elsewhere in this blog, Adrian talks about the number of organisations who are cutting back on their marketing and then complaining that their sales are down and blaming it solely on economic factors that are outside of their control.
It’s also a fantastic ad to boot - if you haven’t seen it already, click here.
So, has the death knell sounded for TV advertising? Highly unlikely. As with all forms of advertising media, it’s horses for courses. Print, web, outdoor and radio advertising have their place of course and TV may be extremely expensive, but no other form of media draws such a huge audience and creates such an impact. Thinkbox have done a great job of getting this message across. All premium price products are affected when there’s less money around, but I’d expect to see a resurgence in TV advertising once the economy picks up and it’s the brands who are brave enough to continue doing it now that will be best placed when we come out of the recession.