In 2003, Absolut Vodka, the 3rd largest international spirit in the world, had the writers of Sex and the City create an entire episode around a fictional cocktail, the ‘Absolut Hunk’ in a bid to increase sales in New York. The episode featured a fictional advertising campaign whereby the flesh and blood ‘Absolut Hunk’ appeared naked on billboards and posters across the city except for a strategically place bottle of Absolut- a clever use of paid placement advertising.
However, assuming you are NOT the 3rd largest liquor company in the world, can you imagine trying to justify that kind of media spend to your stakeholders??
Forward to 2012, nearly a decade on and in Ireland you will find that paid media within the digital sphere is stealing all the appeal. Why? According to IAB/PwC, 80% of all Irish people are online. It would seem advertisers are taking note, with a 12.8% increase in online advertising spend in the first half of 2012. This is in contrast to a 6.7% decrease in traditional media spending in the same period. According to IAB Ireland chief executive Suzanne McElligott, these figures reflect the fundamental role that online now plays within Irish marketing campaigns;
Advertisers are doing so through the use of banner ads, paid search and sponsorships. However it is essential to have a media buying plan in place which allows you to identify your target audience and how to obtain the greatest reach. A useful and free measuring tool for this is Google Adplanner, which allows advertisers to establish traffic (unique visitiors, reach, impressions) and audience information (age,gender) to websites which they may wish to advertise on. Important to note however is that it only includes domains which are part of the Google Display Network (You Tube, Google partnering websites, and other Google properties). The below image illustrates the statistics that Google Adplanner has to offer, allowing advertisers to strategically justify such media spend. Phew!