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Advertising is big business. How big you ask? According to eMarketer, total global ad spend in 2018 was an eye-watering US$628.63 billion.
Leading that charge are the big spenders of North America, home to the world’s most expensive broadcast advertisement slot – the Super Bowl. Every second of advertising in this celebration of audacious marketing budgets cost a stupendous US$175,000. Every. Second.
While North America celebrates its spot at the top, Asia Pacific is quietly catching up. Projections estimate that the region will be the leading source of global ad spend by 2022. With accelerating spend across the Asia Pacific, it’s good to understand what advertising means in practice. Where better to start than the basics? Here’s our simple guide to your advertising future.
What is advertising?
Advertising is a marketing tactic designed to promote and communicate the value of your product or service to an audience.
See, told you we’d start simple. Basically, an advertisement is a way to get the message out there that what you do is awesome, and people should get involved. That fundamental principle is the same whether you’re advertising the coolest new digital toy or the world’s most efficient pencil. That’s what advertising is in general, but what are the specifics you need to know?
10 Types of Advertising to get stuck into
Advertising is a broad spectrum of opportunity, that’s more true than ever with the advent of our connected digital world. Here’s a quickfire summary of the most notable opportunities for advertising.
Broadcast media covers the likes of television and radio, and has traditionally been the big hitter advertising tactic for reaching large audiences. Despite the rise of digital, this old school favourite still has a big part to play in your advertising decisions. Brands aren’t shelling out US$5 million for a 30-second Super Bowl advert just for the prestige, important as that is, it’s because a captive audience of 100 million people is hard to beat. That same sentiment holds true in Malaysia, with a 2017 Nielsen study revealing that TV and Radio are still 2 of the top 3 forms of advertising for audience reach.
An often big money player in modern advertising is the concept of product placement. The most obvious (and damn are some obvious) examples are big brand placements in huge Hollywood blockbusters. You can be sure those particular agreements cost a pretty penny. Yet smart negotiation around mutually beneficial deals doesn’t have to cost a fortune. Just don’t set your hopes on the next Avengers movie.
Print media can be an important part of a modern marketing strategy. That’s placement in things like newspapers and magazines. Even as digital trailblazers, the team at Content Nation still respect the importance of this kind of traditional media format.
Print media is almost always cheaper than broadcast media, creating an important and affordable opportunity to reach your audience in a trusted way. That trust is vital, especially in Malaysia, where newspaper and magazines are consistently seen as the most trusted form of advertising after word-of-mouth.
Outdoor media is exactly what it sounds like. We’re talking giant billboard by highways, adverts on the side of buses, small signs lighting up busy KLCC streets. The rise of digital billboards is adding a modern twist to this format, but the benefits remain the same. The same 2017 Nielsen study reveals that outdoor advertising remains one of the top formats for audience reach in Malaysia.
But don’t be stuck by conventional ideas and standard spaces. There are some great opportunities for outdoor advertising, from innovative designs in quirky urban spaces to awesome installations like giant paint pots spilling down walls.
Event marketing is an often overlooked form of advertising. It’s an important combination of face-to-face contact and outdoor media. When done right, event marketing not only presents a positive static image of your brand much like print or outdoor advertising does, but showcases the genuinely dynamic talent and ability to deliver on what you do. Whether it’s a kiosk on the street handing out free samples or a huge integrated event with all the bells and whistles, event advertising is something you can’t afford to dismiss.
Direct advertising is a broad term, and one which in some definitions includes broadcast or print advertising. What we at Content Nation mean by this term is the form of advertising focused on contacting people directly to inform them of your product or service.
Direct advertising encompass things like mail delivery shots, outbound telephone calls, direct SMS messages, or even something like handing out flyers. In today’s modern world, the benefit of direct advertising over alternative methods is a fierce debate. The response rates on this advertising method are notoriously low, and many brands are moving towards more digital alternatives.
Digital advertising is a broad term for… you guessed it, advertising online and in the digital realm. It covers some of the specific elements of search engine and social media advertising, as well as a wide range of online placement advertisements like those in blogs or native content. If that’s all a little vague, don’t worry, Content Nation have a handy guide to online advertising to help.
Search Engine Advertising
Search engine advertising is a specific form of online advertising based around search engines like Google. This form of advertising is about paying to promote your brand’s online presence for key search terms and results. For example when someone searches for ‘Delicious Food KL’, your restaurant brand gains a prominent position that filters traffic to your website. It’s a complex landscape for newcomers, but our online advertising guide should help. If not, get in touch with Content Nation and explore what we can do.
Social Media Advertising
Facebook, Instagram, YouTube, you can’t afford to build a digital advertising strategy that ignores these platforms. Facebook alone has more than 1.5 billion daily active users. We’re not saying you want to target all of them of course, but it’s hard to ignore the kind of platform that offers access to over one-fifth of the entire global population. Platforms like Facebook hold an almost alarming amount of information about their users, which creates a fantastic targeted advertising opportunity for your brand. Its up to you to determine your target audience, and then leave it all to The Marketing Heaven, while observing the organic growth of your social media status.
Influencer advertising is an important emerging tactic for brand visibility. Think of it like product placement, but instead of placing it in traditional media, you’re giving it to some dazzlingly trendy YouTube or Instagram star who then pretends they like your product. That’s a pretty cynical view of it all, but there’s no doubt that influencer advertising can have a substantial reach. There are handy influencer payment guides out there exploring the cost, but comparing that cost to traditional media outreach is often touted as a favourable economic proposition.