Do you know how much it costs to run an ad on the various platforms?
I was curious and did some research a little while ago (like 2017 ish). Some of the numbers are harder to come by, but I believe this will give you a good indication of what you get for you $$$.
Local TV Ad (15s) $45 morning spot
$380 prime time spot
$2-5K per month
Newspapers Half page from $1K
Magazines Half page from $1K
Local Radio $35-$100 per spot
(5 spots per day * 7 days per week *4.3 weeks* $35 = $5267.5)
Bus Ads From $2K for one back panel for eight weeks
Outdoor Advertising $1-$65K per month
Google or Facebook ads from $10 per day
Obviously, you can spend as much as you like on most of these platforms. Some of our clients spend $30K a month on Google ads. But they get 10X return in revenue from that. So why wouldn’t you?
If you set up a Facebook ad, and it doesn’t work, you change it. If you purchased a bus panel, you most likely have no idea how well it works. And if you know, it doesn’t work; it is a lot harder to update.
Anyways, in 2015 Australian businesses spent $6 Billion on digital advertising. In the 2020 financial year it was $9.1 Billion
In 2015 they spent $3.9 Billion on TV ads
$2.6 Billion on newspaper ads
$700 Mio on Magazine ads
$775 Mio on Radio ads
Your competition AND the big players are spending online.
If you don’t, you will miss out. Especially while all platforms are stagnating or declining Facebook ad spend is growing by 57% per quarter, and Google ad spend growing by 21% per quarter.
If you’re keen to find out more schedule a FREE STRATEGY SESSION
