Trust and Historic Television Viewership Equal Brand Sales
November 10, 2020
By Brad Seitter
Before advertising on broadcast TV, Roof Fix closed sales at no more than 30 percent regardless of the medium they advertised on. Once they moved to broadcast TV, their close ratio jumped to 80 percent and revenue grew exponentially over the next five years. Duane said that having built trust with consumers via broadcast TV advertising made the difference when it came to discussing advertising. This isn’t to say TV is the only way, but studies confirm its efficacy in building trust with consumers over digital and social. Often TV works in synergy with these other media to get optimal results.
According to a 2020 Engagement Labs study, 81 percent of consumers say they trust the news they hear or see on broadcast news, 59 percent trust cable news and 31 percent say they trust news on social media. In the same study, consumers were asked where they believe fake news is most prevalent. Fifty-nine percent said social media, while only 5 percent said it’s most prevalent on local broadcast TV. This is a useful snapshot of consumer sentiment that can help guide strategic advertising decisions. Ultimately, the combination of a trusted viewing environment and extensive viewer reach equals opportunity for marketers.
Former head of marketing for Toyota North America, Steve Sturm provided an analysis on how trust and viewership works similarly for the automotive category. The auto market suffered its largest decline in over 10 years with the impact of the pandemic. Monthly vehicle sales fell by 42.6 percent at its lowest point in April, but by September sales were only down 2.8 percent from last year. New vehicle sales are now forecasted to finish 2020 between 14 to 14.5 million vs. an original forecast of 16.8 million.
Read the full ANA (Association of National Advertisers) article, here.
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