Does the budget affect the success of an advertising campaign in Ukraine?
As is well known, there has been increased the cost of marketing and design services in the field of development of advertising campaigns in Ukraine. Last year alone, this rate has been increased by an average of 28% which indicates an unprecedented development of this industry in our country. No such spikes have been observed at least over the past 14 years.
It concerns advertising on the radio first of all. The banking sector, for example, has been reduced advertising on TV giving preferring to the radio and the mass media. Pharmaceutical companies have been invested significant funds in brand promotion. Therefore, the growth of investments in radio advertising in individual companies has been reached 600%. Representatives of large techno-markets such as Rozetka, Foxtrot, etc., are not too far behind their colleagues. Lots of business owners have been switched to the Internet to save on TV advertising since such advertising is no less effective but much more affordable in price.
Advertising on TV remains popular among alcoholics and pharmaceutical companies as well as the entertainment sector. The foreign companies are the leaders within the advertisers on the Ukrainian TV market. They spend on advertising about 52% of the total cost.
The popularity of advertising in the printed media is significantly increased, and the advertising design today is focused specifically on these formats accordingly. The advertising in magazines such as Burda Ukraine, Edipresse Media Ukraine, Multimedia Today, and others are most in-demand among big companies and brands.
There are some interesting indicators in the field of political advertising in Ukraine. Mostly such advertising costs are confidential but some data we can obtain exactly.
However, experience shows, large advertising budgets do not mean a company’s victory. For example, Natalia Korolevska’ project well-known as “Forward, Ukraine!” during which more than 300 cu was spent per voter, was an epic fail. Obviously, quality is not always expensive.