We’re getting closer to finals season, and the excitement has already begun. With the Super Bowl earlier this month in the US, the Carabao Cup final last weekend, and plenty more sports finals in the coming months, there is plenty to look forward to.
When you watch sports finals on television, the adverts shown during the broadcast will be from huge brands that pay massive sums of money to be placed in the prime spot in front of millions of viewers.
The experts at BusinessNameGenerator.com have broken down the costs for businesses when placing an ad in front of millions at a sports final, and you won’t believe the numbers.
The type of sport
The price of an advertising slot hinges largely on the nature of the sport and the scale of the event. The greater the anticipated viewership, the steeper the cost.
Take, for instance, a scenario where England is competing in the World Cup. A televised advertisement during such an event could set a business back up to £500k. Contrasting this, advertising rates on Sky Sports typically range from £3 for daytime slots to £20,000 for national exposure during premium matches.
Across the Atlantic, a similar dynamic unfolds, with the apex of pricing reserved for the Super Bowl, the pinnacle of televised events in the US. Securing a mere 30-second spot during the Super Bowl demands an astronomical $7 million investment.
Justifying the costs
The Super Bowl stands out as one of the most widely viewed sporting events globally, attracting potentially up to 100 million viewers worldwide. Consequently, the greater the exposure a brand receives during this event, the higher the cost associated with securing that exposure.
Likewise, in the UK market, when major events like the World Cup or domestic cup finals are broadcast, the surge in viewership significantly inflates the price of advertising slots.
Competing for spots
Competing against large corporations for TV advertising in prime spots can be daunting and costly. An alternative successful approach involves diversifying ad placements across various time slots and channels.
Consistency is key in television advertising strategies. Maintaining a threefold increase in frequency ensures reaching 50% of the audience, enhancing memorability, and standing out amidst competition.
Advertisements that truly resonate with TV viewers are those that deliver a compelling message at the right moment. Often, it’s the sustained presence of ads, rather than a single exposure during a major TV event, that cultivates the awareness necessary to convert viewers into customers.
Local TV spots
When you think of advertisements aired during huge sports finals, the ones that come to mind are nationwide companies that attract thousands of people at once. However, not all advertising that airs during major programming is reserved for national spots.
Local affiliates also offer advertising slots during highly popular TV broadcasts. If your business targets a specific market (such as a city or region), a local television ad provides a cost-effective means to reach a captive audience of potential buyers. Moreover, you can access these valuable viewers without incurring the steep expenses associated with national ad placements.
Invest more in digital and social media
Whilst television advertising is an effective way of advertising to large audiences, digital and social media advertising are becoming much bigger ways of promoting to large reaches of people. This could include moving your video adverts to YouTube, and making them compelling enough that your audience doesn’t skip after five seconds.
If your business targets a younger audience, this is the way to go. Watching traditional TV channels has almost stopped among younger viewers, with 90% of 18 to 24-year-olds heading straight to their favourite streaming service, according to a report by the media regulator Ofcom.
This means that in the coming years, advertising through YouTube and TikTok will become a much more effective way to advertise, meaning the high price of sports finals likely isn’t worth it.