As many entrepreneurs know, launching a new product can be tricky. Several factors come into play when attempting to propel your product to compete with established, big budget brands, and advertising is a huge one. This week, we’re approaching the ultimate advertising opportunity, which captures the attention of millions of Americans and keeps them talking for weeks: Super Bowl ads.
While most new, small businesses don’t have the budget to advertise at the Super Bowl -- this year’s ads are expected to ring in at around $4 million -- the truth is they might not need to. Big budget ads created by your competitors can actually work to your advantage.
Coke and Pepsi have faced off in iconic Super Bowl ads for years (with SodaStream also entering the fray). This year, Greek yogurt takes center stage with a " battle of the taste buds " featuring Chobani and Yoplait. Chobani, an industry leader with billions of dollars of yogurt sales in 2013, has 39 percent market share. Yoplait has 8 percent, but claims consumers prefer its Greek yogurt. Both brands’ Super Bowl advertisements are highly anticipated.
So what does this mean for smaller Greek yogurt brands such as Three Happy Cows ? It presents an opportunity for large-scale recognition. Competitor’s big advertisements can help raise awareness for smaller brands in the following ways:
Big ads draw attention to your industry. Last year’s Super Bowl attracted an estimated 109 million viewers. That means Greek yogurt advertisements will have America’s attention for a few precious minutes, putting a focus on the industry as a whole. When consumers head to the dairy aisle seeking Greek yogurt, they’ll also be looking at Three Happy Cows, Brown Cow, Greek Gods and several other brands. Half the battle is getting consumers’ eyes on your product!
The media spotlight. To some, Super Bowl advertisements are arguably as entertaining as the game itself. Media pay attention to these ads, ranking and analyzing them. This presents a great opportunity to start a conversation with media about your brand. Highlight what’s unique about your product and set yourself apart from the competition.
It gives you a platform to discuss what you have to offer. The buzz created by the Super Bowl is unparalleled. Prominent ads in your industry also provide an opportunity for social conversation. Take to Facebook, Twitter, Instagram or your company blog to join the conversation around the Big Game.
While big brands spend big money to get their name in the national spotlight, remember there are ways for small brands to join in and ultimately benefit as well. Being part of an industry that is well represented in Super Bowl ads provides a great opportunity, but other large advertising campaigns can also give smaller competitors a chance to get noticed.
Make sure you’re aware of what other brands in your industry are doing and take note of what makes your product stand out. This way, you’ll be able to capitalize on opportunities to get major recognition for your brand.