Are Super Bowl Advertisers Wasting Money?
Do They Really Get A Big Bang For Their Buck?
Is It Really Worth It?
It’s time for another Super Bowl and that means it’s time for outlandish spending when it comes to advertising dollars. Many people say it’s the Super Bowl ads which pull them to watch the game. Some go as far as saying the best part of the game revolves around what advertisers do with the Super Bowl commercials.
But, at a whopping $3 million for a mere 30 second ad! It begs the question – Are advertisers wasting their money on these crazy ads?
Then, toss in the fact that the economy is in a hard way these days, and just this week alone thousands of people were pink-slipped, you have to wonder what company execs are thinking. How can these same execs that are handing out pink slips and slashing budgets, justify spending $3 mil on a 30 second ad?
A Big Waste Of Money
According to University of Tampa researcher Stephen Blessing, the $3 million spent on the 30 second spot is pretty much the same as throwing money out of a window. Reality is, few people even know what’s being sold in the commercials in the first place. Meanwhile, Lisa Haverty of Boston advertising consulting firm Brain on Brand interviewed a group of students one year after the 2006 Super Bowl and discovered they could only remember the ads that entertained them.
They didn’t know what was being sold. But they knew they were entertained.
Of course the findings are certainly not what adverstisers want to hear. Even though the commercial might hit a humorous or emotional chord, most people don’t make a link between the commercial and what products are being pitched. Steve Blessing concludes that if advertisers want viewers to make a connection with what they’re selling, they need to tie their product to an existing memory structure. Otherwise, advertisers are simply throwing their money away.
What brought us to this place where overpaid company executives don’t blink an eye at overpaying for commercials on Super Bowl Sunday? Could it be they’ve lost focus on what’s important? It’s no longer about the product. It’s turned into a competition with the other company to out-do them in an outlandish commercial. It’s not about selling their product, it’s about saying they had the best commercial. With that in mind, maybe it’s time for the stock holders in the various companies to stand up and say no more!
On the other hand, the networks carrying the Super Bowl ask the crazy high price because they know they can get the money. With that in mind maybe it’s time for the advertisers to simply stop buying the time. We live in a world of supply and demand. When the supply is low, such as commercial slots on the Super Bowl, but demand goes up, TV networks charge crazy prices. In a different economy, that’s no problem. But, in the current economy, when thousands of people are losing jobs, and houses, how can advertisers, or networks, live with themselves when it comes to $3 million for a 30 second commercial.
What will I be doing this Sunday?
Not watching the Super Bowl.
Maybe it’s time to send a loud message to the TV networks and advertisers and simply tune out. Advertisers know the commercials have no sticking power, but they continue to waste the money. Maybe they should simply stop buying the time. Network execs know they’re charging too much, but they still charge it. Maybe if everyone tunes out, they’ll get the message that it’s time to stop throwing money out the window.
Just my two cents,
Dr. Rus
Although I’m amazed at the price of the ads, I’ll be watching the game because I love to watch football. The ads will be like appetizers for the main course–the game. I love seeing the creativity of some of the ads, too. Although I think Ad agencies are in the process of transitioning away from expensive TV campaigns, it will always be a tactic until TV is not such a large portion of the pie for consumers and big moments where millions are watching don’t happen any more.