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Elizabeth Kraus has over a decade of first-hand experience building and growing a digital marketing agency and double that in managing the marketing of small and medium-sized businesses. She provides expert answers to marketing questions related to branding, content marketing, web development, email, social media and SEO.
How Much To Advertise On Local Radio
Audrey is a writer for Fit Small Business with over 4 years of writing and marketing experience in the startup industry. She writes content for marketing topics that help small businesses reach their goals.
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If you’ve ever wondered how much a 30-second commercial costs, the short answer is: a lot. TV advertising costs are well-known for reaching atmospheric heights, with 30-second Super Bowl ad prices at $6-7 million in 2023. But that’s far from average – you can stream TV commercials for as little as $1,000 per month locally or around $200,000 nationally.
Read on to learn more about TV advertising costs, from ad production costs to average prices to run a TV commercial.
The factors that determine the cost of a TV commercial involve two main expenses: production and distribution (which in this case is airplay). Production costs include the creation of the actual TV commercial, such as hiring an advertising agency and a professional production team. Our article describing how to get a TV commercial provides more information about the production of TV commercials.
On the other hand, broadcast or distribution costs are the prices you pay to a television network (whether regional or national) to broadcast your advertising message. Recently, advertising on streaming services has gradually become a more viable way for advertisers to reach their audiences.
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Production costs for TV commercials vary widely, but you can expect them to cost between $1,000 and $50,000. to buy or rent production equipment and studios.
The cost to run a 30-second commercial on network television averages just under $105,000. These costs vary primarily depending on the selected broadcast area (regional or national), time slot (prime time slots are more expensive) and duration. of your ad.
You can produce a TV commercial in several ways, depending on your team’s creative abilities and advertising budget. Teams producing their own in-house TV ad can spend as little as $1,000 with proper budgeting. This figure often includes the costs of purchasing or renting production equipment such as cameras, microphones and lighting, hiring talent such as actors or voiceovers, and renting studio space. .
On the other hand, outsourcing to an advertising agency for a professionally produced TV commercial will cost closer to $10,000 or $20,000, but it can go up to $50,000. This cost can increase exponentially if, for example, a celebrity is hired to appear in the ad, or if your video requires complex special effects that require additional talent.
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Remember that the length of your ad will affect both production and delivery costs. So a shorter ad (eg 10-15 seconds) will naturally cost less to create and run than a longer ad (eg 30-60 seconds).
For local TV stations, advertisers can expect to pay between $5 and $100 per 1,000 viewers for a 30-second ad. But when it comes to nationwide distribution, the costs increase dramatically.
Meanwhile, the proliferation of streaming services such as Netflix, Hulu and Disney+ has opened up new avenues for advertisers. Ads for these services, also known as over-the-top (OTT) advertising, can cost between $25 and $75 per 1,000 impressions.
In addition, how often you want your ad to appear will also affect your total delivery costs. If you have a budget or are not sure that you want to make such a large investment, you should consider other advertising and marketing channels, such as billboards or running online advertising through platforms other than YouTube.
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Also consider prioritizing reach over frequency of ad placements. Arthur Worsley, founder of The Art of Living and former McKinsey associate, who holds a master’s degree in psychology from the University of Oxford, notes that the impact on conversion diminishes each time a person sees the same TV ad.
Worsley says: “Research has shown that reaching a new person with a TV ad often has a much greater impact on conversions than reaching the same person more than once. Reaching new audiences with TV advertising, in instead of increasing the frequency of existing audiences, can generate meaningful results for a fraction of the cost.”
TV advertising is billed at cost per mile (mile is Latin for “thousand”) or CPM, which is the cost for your ad to be seen by 1,000 people. CPM varies greatly depending on various factors, such as where your ad appears, the benefits for each audience set to advertisers, and the number of advertisers willing to pay for limited ad space, among other factors.
For example, a television show with a predominantly female audience would be more desirable to a company that sells products primarily aimed at women. In addition, viewer demographics, timing and placement of advertising may result in higher or lower advertising costs.
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TV ad costs vary depending on a number of factors: broadcast medium, TV program, viewer demographics, audience placement, frequency and timing of ad placement, etc. With all of this in mind, you’ll be better prepared to understand how much it costs to run TV ads and how to get the most out of your TV advertising dollars.
The cost of a 30-second TV commercial varies greatly depending on where you want to air it. To obtain advertising rates for regional television, you must contact the local television stations. However, for estimated cable TV advertising costs, see the pricing table below. It includes some of the most popular cable TV channels.
Beyond television, several other media channels are available to deliver your advertising, from billboards to radio. Here are the average CPMs for other forms of broadcast media.
In general, while TV advertising costs a higher upfront amount, the extended reach means that CPM remains relatively affordable. However, CPM only tracks impressions, which does not necessarily equate to higher engagement or more sales.
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The cost of television advertising is significant, especially for small businesses. So we reached out to media and advertising experts and asked them for tips you can use to avoid unnecessary ad spend and improve your return on investment. Here’s what they had to say:
Colin Jeffries, vice president of marketing and communications at BrightView Health and host of the Rethink Marketing podcast, says knowing your purpose, audience and times to avoid is key:
When considering the cost-benefit of TV advertising, start with the pros and cons. Benefits include the likelihood that your TV ad will increase sales and viewer engagement, the credibility offered by the medium, and the ability to reach a broad and captive audience. Disadvantages include limited targeting options and tracking data, people’s tendency to ignore or skip ads, and the large upfront costs involved.
As digital advertising is poised to surpass TV advertising in ad spending, recent studies show that consumers find traditional media ads, including TV ads, more trustworthy than digital ads. Additionally, according to research from Finecast and Amplified Intelligence, TV ads engage audiences more actively and consistently than digital platforms, which translates positively into increased sales.
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The best way to reach your target audience with TV advertising is to do intensive research. Dig deep into the audience makeup of networks (local or national) and TV shows to find the audience set that best matches your target audience. Then bid on the time slot where they are likely to watch TV.
Creating a TV commercial involves building an advertising strategy and deciding on a production method: either in-house or through an agency. Next, you need to develop an ad concept and creative (copy, scripts, vision boards, etc.), hire talent, produce your ad, and secure ad slots. If you work with an agency, they can handle all of this for you. Get a complete overview of the steps to get a TV commercial.
Although the cost of TV advertising can be lavish compared to other mediums, they have been a mainstay of the advertising world for many years due to their consistent effectiveness. Whether it’s the ease of connecting with a large audience, building instant trust or fostering brand loyalty, the benefits of TV advertising often outweigh the long-term costs.
Now that you know how much TV advertising costs, start creating your own with the professionals at Fiverr. You’ll find professionals for everything from script writing to voiceover recording at affordable prices.
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