Every year, millions of Americans huddle around their TVs with their friends and families to watch one of the most iconic sports of USA culture, football. So, with such immense popularity, smart people realized that advertising during that time would be a major necessity . And as basic microeconomics states, with greater demand and such a limited supply (of time in this case), prices have soared. There are reports that companies paid roughly $5 million just for a small 30 second time slot during the game. This is more than most small businesses have for a marketing budget for maybe 5 years.
But more over, Super Bowl marketing has not only changed the way businesses think about advertising, but also have shaped marketing strategies inherently. With new sources of media, a younger generation not watching TV and instead picking up their iPhone, and an overall changing attitudes, cultures, and even attention spans, businesses have to be agile and flexible to adapt to the evolving consumer.
So, let’s identify the key changes in Super Bowl advertising and even try to learn some key takeaways.
First is the Changing Media.
It doesn’t take a rocket scientist to see that the digital platform has grown considerably. Less and less young adults are watching TV and instead are preferring their social media such as Facebook, Instagram, Snapchat, Twitter and Youtube. These growing sites actually accrue more views per day than the Super Bowl has in its 50 years.
Companies have in fact shifted their marketing strategies in order to better accommodate. They have even started making trailers for commercials, in order to create brand awareness and excitement for the actual commercial to come. These ads are carefully crafted to first target the buyer (cars are usually bought by parents, or in this case an overprotective father), then target the user (car finding would be great to track when your child is driving), and then target the product (showing off the great sleek new car with premium functionality).
Second are the Shifting Trends.
With the fast-paced, on demand nature of present consumers, businesses need to work harder to create creative, funny, interesting, or really memorable commercials. 10 years ago, advertisements were mainly informative, trying to sell you the product or the brand. But nowadays, ads often have nothing to with the product at all. But, still they are considered highly effective and successful. Why is that? It’s mainly because of buzz.
Like a promoter of a club, these businesses thrive off of buzz, this ethereal concept of popularity. The more buzz, the more likely a business will thrive. Companies are also trying to associate their brand with just a feeling or an emotion. An excellent example of this is Coca-Cola. Coca-Cola is legitimately affiliated with the word happiness, and all of their marketing material expresses this.
A more recent example is how Red Lobster sales exploded after Beyonce’s song ‘Formation’ was performed during half-time at the Super Bowl.
Or how Budweiser sales rose after champion QB of the Denver Broncos, Peyton Manning, inconspicuously dropped product placement.
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