When it comes to advertising a business and its products, business owners need to ensure that their advertising is targeting the right demographics. How can business owners make sure their advertising hits their mark?
If business owners want to make sure their advertising is as relevant as possible, they need to hit the right demographics. But in today’s advertising space, it can be a big challenge for business owners.
“In the old days when you marketed something, you would make a TV ad, you would make a press ad, and you might run some radio, and that was your marketing execution,” Scott says on the My Business Podcast.
“There'd be magazines, and it would be quite a focused way of spreading the word that a new product was coming.
“Well, that ecosystem has just gone ballistic.”
Scott says that customers do not only want to look into advertisements quickly, the number of channels to advertise on has increased, too.
Using the example of advertising for car manufactures, Scott says technology can help provide business owners with insights into their customers, but only if they track the right information and couple that with the relevant content.
“There's these very clever content management systems that drive websites now and the use of data. You can really home in on what people are after, but that's pointless if you haven't got the content to feed them. There's this massive desire for heaps and heaps of different content,” Scott says.
“In the case of the automotive industry, we want to show the car – but to this person, we want to show it to him with a kayak on the roof rack because we know he's into adventure sports, or we know this person loves skiing so we want skis on the roof rack and we want the environment to be with snow.”
Traditionally, trying to represent these different desires would be a costly experience by creating different advertisements for different demographics, as advertisers would spend time and money into creating different layouts.
However, despite this desire for tailored content for multiple demographics, Scott says marketing budgets have been getting smaller.
“Marketing budgets haven't gone up. If anything, they've probably shrunk. Yet the channels of dissemination of this data have grown, and the ability to home in on individuals and what they might be interested has grown,” he says.
Scott suggests in order to create these different ads, computer graphic (CG) visualisation allows for multiple variations to be created without incurring a large cost, particularly for manufacturers.
“You need to be able to produce the content cost effectively enough to be able to feed that out into all these channels. This sort of technology, this CG visualisation, if done properly, done cleverly, will allow you to do that without blowing your budget,” he says.
Although the cost of entry to implementing CG visualisation may appear to be high, Scott says the cost has come down significantly in recent times, and it's quicker and cheaper to change CG rather than constantly altering an actual model.
“You could do all this 20 years ago, just that it would cost you a million dollars every time you wanted to create an image … [now], the hardware has become cheaper,” he says.