Inflation figures point to better than expected economic performance; advertising productions can help stimulate immediate sales increases
INFLATION Figures released by the Office of National Statistics have revealed advertising can enjoy a better than expected pre-Christmas resurgence.
Although the ONS data has revealed a marginal increase in the cost of living for consumers, wages have risen too, with the 2.7% average increase outstripping the former’s rise of 2.5%.
While this is still a nominal gap, your business can still exploit the increases in overall spending, with actual demand for products and services increases in line with production.
Given that the Christmas advertising period is set to begin after August, producing adverts that incite consumer spending will be crucial in optimising success, but decision making should also be underscored by brand.
Direct response is a key demand generator, but as you approach key, emotionally symbolic periods, ensuring that the emotive underpinnings are prevalent to ensure of expedited resonance.
Regardless of the severity of swing in factors such as inflation or interest rates, consumers are still inclined to spend during this period, but the most successful advertising campaigns will factor in the need for savings during the new year period.
Looking at incentivising savings later on for consumers; reward schemes and cheaper services, will be key as citizens look to more austere spending plans.
Therefore, your advertising needs to be adaptable and be future-proofed from issues that will arise, as you need to focus on more brand-driven campaigns in the more subdued sales periods.
Why consumers will continue to spend if you advertise post-inflation rise
Production will inevitably increase with the rise of money in circulation, which will in turn generate the demand for services and products, which your business provide.
While not an a pivotal leveraging force, it does illustrate the scope that exists elsewhere for your sales to flourish.
This is why you can exploit the markets that have been placated by transient market news, to offer incentives and increased value for consumers who seek to purchase cheaper offerings from your business.
The ability to target consumers of all demographics omniplatform ensures you can segment your campaigns in a complimentary fashion, to extract data streams that will enable your business to deliver relevance for everyone.
Key to your success, though, in this instance, will be to ensure that you do not personalise your campaigns too much.
What you can do to deliver lucrative TV advertising productions amid the inflation rise
When segmenting audiences and editing your brand and response campaigns to appeal to customers spanning all demographics, the key for your business will be to not alter any brand messaging and its context.
While onscreen graphics can change; offers, call-to-actions for instance, your overall emotive context needs to remain the same across all your ads to ensure your business is trusted across all advertising mediums.
This manner of advertising ensures that your chances of enjoying brand advocacy are increased, which is key as you look to foster engagement online, as well as off it.
The wider online success rate is determined by numerous factors, but TV is one that is consistently neglected, amongst other inbound related elements.
Therefore, to make your campaigns lucrative, having subtle and subliminal references to social media; people accessing your product or service online, or even including it in your script, will assist with maximising this underexploited means of engagement.
TV is successful because it stimulates conversations like no other; it ensures people discuss your business, but online advert conversation can be improved: this is what you need to focus on.
Why online conversation is important and how you can leverage it
The news regarding the changes to inflation will stimulate conversations on and offline like other topics that actively affect day-to-day life.
In order for your business to succeed in this fashion, facilitating versions of your ad that compliment the cross-platform world we live in.
When you know someone has viewed your TV ad — through an addressable advertising campaign for instance — you can ensure that your products and services appear potently in search and retargeting campaigns.
As a result, you can placate the need consumers have for finding products themselves online, while also boosting awareness and early levels of trust through the targeted campaign.
Once viewed, you can continue this trend of retargeting and engaging on social media to further incentivise consumers and provide them with a journey that can create lasting relationships, which can survive the test of transient economic volatility.
If your business is leading conversations online, your organic SEO will be strengthened and your content will enjoy increased leverage – supporting the generation of data you need to deliver your next TV, online, or radio advertising production.
Space City is the UK’s most cost-effective TV advertising production company. Take advantage of their unrivalled knowledge of direct response to exploit the change in interest rates.