I’m going to make an educated assumption that SM Hypermarket / Taste Asia spent no more than P300.00 per head for the Taste Asia Blogger Meet. Factor in the 150 guests and we come up with a magic figure of P45,000.00 for the food.
What can P45,000.00 buy in terms of advertising?
- It can buy a half page or a full page advertisment in a commercial publication
- It can barely pay for a 30 second spot in a TV ad or radio ad
- It is the overpriced talent fee of a nobody endorsing a product
Or it can be used to revive a product using not so traditional marketing. Taste Asia had been refurbished with air conditioning, wireless Internet and flat screen televisions.
It dispels the notion that marketing people look ONLY at demographics. Frankly, traditional marketers don’t really look at content, because they don’t have time to do this. The line “I don’t care about your content — what I care about is guaranteeing me 500,000 impressions.” is fairly common in traditional advertising. In this case however, the “less is more” principle pays more attention to the credibility and experiential writings of people who came and enjoyed the event and wrote about it online.
It may be safe to say that pass on readership for one magazine could lie in the one hundred thousand — and that’s pushing it. That’s a little bit over P45,000.00. Think of how many bloggers it takes to generate a hundred thousand visitors in a month. The surprising answer is … one or two really good ones.
So is it actually cheaper to do online campaigns, or is my logic completely flawed?
7 replies on “P45,000.00”
Very good point Jayvee. Now we need to get `em marketers to attend this http://www.interactivesummit.com.ph/ 🙂
Military campaigns are dictated by the terrain and the target. One of the reasons the French were defeated at Agincourt was that they did not know the nature of the area – a muddy field that led to a cul-de-sac, which bogged and trapped them down.
Efficacy of marketing campaign it seems depends on the product that your trying to sell,the product, and the intended market. For example if one were to market a video game, a book and a humuhumunukunukpuaah it would make sense to do on-line campaigns here in the Philippines. Because a)People who would be interested in it are people who are relatively young and/or on-line b) The same people on-line, in the Philippines at least, would have a degree or the capability to buy such things – via cash or credit.
On the other hand if one were other commodities and you would like to reach the wider market an on-line campaign would not hurt but a traditional marketing would be far more effective.
I totally agree with you that online marketting is cheaper.
Jayvee you’re putting the sexy back in marketing for me. Agree! Not just cheaper in the strictest sense, but more bang for your advertising expense buck. Also agree with Juned though on targeting…
[…] Fernandez assesses that SM saved a lot of money by doing an online campaign rather than a traditional advertising campaign. What’s more is that SM seemed to reach a […]
We did the Blog Parteeh last January and it cost somewhere around 60k. That doesn’t include the giveaways and prizes which amounted to another 50k. Though the food and drinks budget was just 40k for 100 people, it was pretty limited compared SM which seemed overflowing. IMO, the event would have cost somewhere between 150k to 200k if it were all shouldered by some other entity and paid SM Hypermart to organize it.
owe it to the fact that SM owns the venue too 🙂