Earlier this week a student in England asked if it is now more beneficial for companies to advertise on the internet rather than on television? Bob Hoffman, who owns an agency in San Francisco that makes TV spots for McDonald’s and Toyota, says, “no.”
Beverly Thorne, senior VP-marketing, Century 21 is of another mind. According to Ad Age, Century 21 will stop running national TV and put that money into online advertising.
Century 21′s decision to pull all national TV advertising was reached relatively easily based on data it compiled in 2008 and 2007, Ms. Thorne said.
“In 2008, our year-over-year results from 2007 are that we saw a 237% increase in the number of leads we were able to produce for our brokers and agents,” Ms. Thorne said. “At the same time, our cost per lead dropped 62% year over year because we learned how to integrate our search methodologies with our display and enhanced listings to create a far more targeted and efficient lead process. Our decision from there was very clear.”
Real estate is a purchase that requires intense shopping, it’s more like a class you have to take than an expensive trip to the mall. This lends itself to multimedia treatments on the Web. Motivating someone to buy a burger is a different deal, one that still needs support from TV.
Ideally, a brand can spend in all important media channels. They can build the brand on TV and build relationships online and in person.