Question

Description and analysis (regulation(small print), product, price, segmentation) of 5 different advertising in the financial sphere!

Answer 1

5 different Advertising in financial sphere:

1. Online Advertising:

Being on the internet can be a cost-effective way to attract new customers. You can reach a global audience at a low cost. Many customers research businesses online before deciding whom to buy from. A well-designed website can entice customers to buy from you. There are a number of ways you can promote your business online via paid advertising or to improve your search engine rankings. Learn more about doing business online. Other ways to advertise your business online include promoting your products or services on social media sites, blogs and search engines and other websites that your target audience visits.

Analysis:

• Regulation: as per online portals guidelines
• Products: Less complex financial products like credit card offers or trading account products etc.
• Price: would be according to the online portals depending on no of times of views, pay per clicks etc
• Segmentation: Millenials and office going population

2.  Television Advertising (Media):

Television has an extensive reach and advertising this way is ideal if you cater to a large market in a large area. Television advertisements have the advantage of sight, sound, movement and colour to persuade a customer to buy from you. They are particularly useful if you need to demonstrate how your product or service works. Producing a television advertisement and then buying an advertising slot is generally expensive

Analysis:

• Regulation: as per broadcasting associations guidelines
• Products: less to medium complex financial products like credit card featues, Digital wallets, mortgage, insurances etc.
• Price: Advertising is sold in units (e.g. 20, 30, 60 seconds) and costs vary according to the time slot, the television program, whether it is metro or regional, if you want to buy spots on multiple networks.
• Segmentation: 18 - 31 and 31- 65 age groups and ads according to the Tv shows preferbly on business news and information channels.

3. Radio advertising:

Advertising on the radio is a great way to reach your target audience. If your target market listens to a particular station, then regular advertising can attract new customers. However, sound has its limitations. Listeners can find it difficult to remember what they have heard and sometimes the impact of radio advertising is lost. The best way to overcome this is to repeat your message regularly - which increases your costs significantly. If you cannot afford to play your advertisement regularly, you may find that radio advertising does not generate strong results.

Analysis:

• Regulation: as per radio broadcasting associations guidelines
• Products: medium complex financial products like mortgage, insurance etc
• Price: Advertising is sold in units (e.g. 20, 30, 60 seconds) and costs vary according to the time slot, the program, whether it is metro or regional
• Segmentation: 31- 65 and over 65 age groups

4.Outdoor and transit advertising:

There are many ways to advertise outside and on-the-go. Outdoor billboards can be signs by the road or hoardings at sport stadiums. Transit advertising can be posters on buses, taxis and bicycles. Large billboards can get your message across with a big impact. If the same customers pass your billboard every day as they travel to work, you are likely to be the first business they think of when they want to buy a product. Even the largest of billboards usually contain a limited amount of information; otherwise, they can be difficult to read. Including your website address makes it easy for customers to follow up and find out more about your business. Outdoor advertising can be very expensive especially for prime locations and supersite billboards.

Analysis:

• Regulation: as per local authority guidelines
• Products: less complex financial products like credit card offers or mortgage offers etc
• Price: Depends on the location
• Segmentation: Working professionals, morning walkers

5. Print Advertising:

Newspaper:

Newspaper advertising can promote your business to a wide range of customers. Display advertisements are placed throughout the paper, while classified listings are under subject headings in a specific section. You may find that a combination of advertising in your state/metropolitan newspaper and your local paper gives you the best results.

Magazine:

Advertising in a specialist magazine can reach your target market quickly and easily. Readers (your potential customers) tend to read magazines at their leisure and keep them for longer, giving your advertisement multiple chances to attract attention. Magazines generally serve consumers (by interest group e.g. women) and trade (industry/business type e.g. hospitality). If your products need to be displayed in colour then glossy advertisements in a magazine can be ideal - although they are generally more expensive than newspaper advertisements. Magazines do not usually serve a small area such as a specific town. If your target market is only a small percentage of the circulation, then advertising may not be cost-effective.

Analysis:

• Regulation: as per local authority guidelines
• Products: medium to highly complex financial products like mortgages, bonds and stocks products , credit products, life insurances etc.
• Price: Depends on publisher house reputation and reach, space needed in print ad
• Segmentation: Working professionals, Stay at home people and ads should be prefered on Business magazines and newspaper to target right people.