FINANCIAL Security continues to dominate business headlines amid the ongoing Brexit and election uncertainty, although matters are to improve for consumers.
The latest development from Downing Street is the announcement that there will be a full-scale, Government commissioned review into zero-hours contracts.
Although a highly contentious issue, the merits of such contracts have been exonerated by McDonalds’ decision to offer all staff the option of guaranteed hours, with 80% choosing to remain within those contracts.
While this championing of the scheme is testament to the desire of many consumers to reside with such contracts, the financial permutations ensure that qualifying for credit, signing direct debit contracts and committing to larger purchases are inhibited.
From your business’ point-of-view the review ensures that it maybe mandatory for any company to offer permanent hours to workers, while strict, statutory stipulations enforced to marshal those who seek to exploit staff or the legalisation.
As a result, in terms of financial harmony those individuals who remain within the confides of a zero-hours contracts will be their voluntarily.
Whether it be through the desire of flexibility, or the need for a supplement to their existing income, the accountability of businesses will ensure that you can begin to advertise to more consumers.
With more guaranteed hours or knowledge of how zero-hours contracts are utilised, your business can begin to exploit consumer data on incomes for instance, or when they maybe in a position to spend more transparently.
Of course the ongoing uncertainty and fiscal ambivalence contemporarily is stymieing growth, as wages continue to fall behind inflation, but once the election result is confirmed and a long-term fiscal plan is implemented, markets, currency, inflation and interest rates will begin to reach states of equilibrium and buoyancy respectively.
With interest rates remaining low, house prices are beginning to fall once more, although with purchasing also decreasing due to the concurrent squeeze on savings, the current economic situation is accentuating any uncertainty you may have over advertising.
Any financial outlay at a time where profit margins continue to be squeezed will be appraised thoroughly for its prudence, thus the clamour for transparency and attribution will be manifest.
This coupled with expedience and the desire to enjoy better measurability has led to many business choosing an online only advertising output.
However given that TV remains not only the most successful, but also the most cost-effective in both the short and long-term, utilising a platform that variably inhibits itself in achieving results would be ill-advised at a time where maximising trends and improving efficiency is paramount.
In terms of overall payback, TV provides double the ROI compared to online, while online and TV as a partnership improves the efficiency of both.
At a time when you can measure the success of TV and online campaigns in realtime, efficiency and ensuring that your audience is optimised throughout your display period is potentially fervent.
Often efficiency in both the cases of TV and online campaigns suffer after time, as resonation declines, some may have already engaged with your product or creative may not be relevant anymore.
Knowing when your ad’s efficiency is beginning to decline is imperative, but is also easily attainable with the usage of analytics software that can directly attribute online traffic and sales from TV, or through data matching within targeted, inventory driven campaigns.
In the case of the latter, at a time when you are looking to drive more relevant traffic to your website, utilising software that can compare the success of two co-dependant metrics in realtime will be a vital marketing source.
Given the fact that more consumers will be in a position to engage with any DRTV campaigns, should you be able to drive your ads to them in realtime, your efficiency can be improved as well as ROI.
With the abilities to understand how and why consumers may have begun to reject your campaign of elements of it, ensuring you have the ability to refresh them quickly is imperative.
Given the downside of such specific targeting is that scale will be compromised, ensuring that either a new product, offer or creative change is exhibited is vital.
By producing an initial TV campaign that embodies your brand values, but can be ameliorated and augmented to provide a direct response mechanism, you will save on advertising costs, while maintaining increased consumer focus, sales and resonation.
Considering the volatility that currently persists, maximising any statutory reform that will broaden your consumer base- like the zero-hours contract review- will underpin prolonged ad growth, but crucially boost your ability to deliver ads to consumers when it compliments their financial circumstances.
Space City has been producing TV, online and radio commercials for 25 years, utilising their in-house editing and DaVinci Grading software to create new versions of ads from £4,000.
Contact the team now and maximise the team’s work with new and evolving technology like AdSmart to perfect your next advertising campaign.