Recently, I started to watch a couple of television series and one that intrigues me the most was this show called Shark Tank. For those of you who never heard of this TV show, the show features a panel of potential investors, called “sharks,” who consider offers from aspiring entrepreneurs seeking investments for their business or product. The sharks are paid for their participation in the show, but the money they invest is their own. The entrepreneur can make a deal on the show if a panel member is interested. However, if all of the panel members opt out, the entrepreneur leaves empty-handed.
When I was watching this, it got me thinking how this tv show have successfully attracted thousands of people to come to the show and have resulted in a lot of successful businesses because of their partnership with the investors. But what’s more intriguing is how the businesses that didn’t get a partner or investor in the show, manages to be a successful business because of the indirect advertising that they get. By appearing in the show, the business gets indirect advertising of the products that they offer, this leads to consumer awareness of the product and the brand. Just look at this picture how one contestant fails to get an investor, but receive an immediate effect on their business due to the free advertising they get by appearing on the show.
This got me thinking how TV still plays a huge role in marketing a product. On a couple of my blog I’ve written how TV may be obsolete in the future, but by seeing the impact of only one TV show that I watched, I can say that TV could possibly still be a very great marketing channel for marketers to utilize.
So, what do you guys think? Should marketers move on from TV and advertise their product through mobile marketing or any other advanced method? Or should they still advertise on TV as it is still a major means of advertising a product? Feel free to leave your opinion on the comment below! 🙂