TVB’s Brad Seitter, EVP Business Development moderated a members-only session exploring how local TV sellers can drive growth opportunities by developing strategies from TVB’s proprietary Purchase Funnel Study and BIA Advisory Services forecasts. BIA’s ADVantage local market intelligence service forecasts media ad spending for each local TV market across 12 key business categories. Seitter was joined by colleagues Dave Buonfiglio, VP Digital and Brian Allers, SVP Business Development. Allers interviewed a special guest, Greg Crowley who owns Kansas City-based Crowley Furniture & Mattress.
In TVB’s Purchase Funnel Study conducted by GfK, consumers were asked about the role media played in their purchase decision making. For the Legal category, TV scored higher than all other media with 54 percent saying TV “made them most aware of this category.”
BIA ADVantage data show that Legal Services businesses will spend $8.1 billion in paid media advertising in 2022, of which 17.5 percent ($1.4 billion) will go to TV OTA. Another $1.2 billion will be spent on Digital Display and $708 million on Local Search by Legal Services businesses.
Given the high awareness scores earned by TV OTA, local TV sales teams might do well to educate these businesses that deeper investments higher in the purchase funnel with local television likely will drive higher ROI for investments in lower funnel digital paid ads in display and search. Indeed, the GfK study highlighted that 90 percent of consumers said TV influenced their searches.
TVB has published an on-demand video from the webinar on their website that is viewable here. BIA is currently developing a Vertical Ad Report for Legal. Email us if you’d like to be notified when it is published.