I noticed recently that the sports announcers have shortened the name of the University of Minnesota’s stadium from TCF Bank Stadium to “The Bank.” TCF attached its name to the stadium of the Minnesota Gophers for many reasons, but the principal reason was to have TCF Bank repeated whenever the name of the stadium was mentioned. With that goal in mind, TCF Bank paid a large sum of money to have its name attached to the stadium.
Sports announcers referring to the stadium as “The Bank” does not accomplish what TCF intended. Think about it. When said aloud, “The Bank” could refer to any bank. It doesn’t specifically say TCF Bank. While sports announcers have nicknamed the stadium the bank in an effort to say fewer words, this is not good for TCF Bank. Rather than hearing TCF Bank every time the stadium is mentioned, people are hearing the bank.
If you don’t know to what the bank refers, you could wonder why athletic competitions are being held at “the bank.” That’s odd, isn’t it?
I mention this situation to you because it is a great example of businesspeople not getting what they expected from their advertising expenditures. Most businesspeople don’t check to see that they received what they expected. I’m not talking about the amount of sales they expected. Many uncontrollable variables affect the sales outcomes of advertising, and they come from the advertising media, the business, and the business environment. I’m talking about the controllable facets of advertising including number of advertisements run, placement of the ads, and value-added promises such as promotional announcements or banner ads.
In TCF Bank’s case, that includes that the full name of the stadium is said by sports, news, and professional announcers every time, no exceptions.
I have never encountered a businessperson who follows up to make certain that the advertising ran as agreed. Businesspeople seem to be happy to get the advertising schedule placed and the ad approved. At that point, they consider the transaction completed when actually it is incomplete. Interestingly, they do not follow this procedure with any other part of the business. New inventory is always checked against purchase orders. Hours worked are compared to hours scheduled. Payments are assigned to customers’ accounts, and the discrepancies addressed.
Why is advertising treated differently?
I think it’s because businesspeople have an attitude toward advertising that it is an untrackable expense. Many are frustrated with their advertising, and that feeling is evidenced in their not following up. TCF Bank executives may be the latest example of that. TCF Bank certainly is not being said in connection with the stadium. I wonder if TCF Bank marketing managers have noticed? I wonder what they are doing about it?
Do you check that your advertising ran as you agreed?
This week's marketing trivia challenge is What advertising have you tracked? E-mail me your answer.
Sports announcers referring to the stadium as “The Bank” does not accomplish what TCF intended. Think about it. When said aloud, “The Bank” could refer to any bank. It doesn’t specifically say TCF Bank. While sports announcers have nicknamed the stadium the bank in an effort to say fewer words, this is not good for TCF Bank. Rather than hearing TCF Bank every time the stadium is mentioned, people are hearing the bank.
If you don’t know to what the bank refers, you could wonder why athletic competitions are being held at “the bank.” That’s odd, isn’t it?
I mention this situation to you because it is a great example of businesspeople not getting what they expected from their advertising expenditures. Most businesspeople don’t check to see that they received what they expected. I’m not talking about the amount of sales they expected. Many uncontrollable variables affect the sales outcomes of advertising, and they come from the advertising media, the business, and the business environment. I’m talking about the controllable facets of advertising including number of advertisements run, placement of the ads, and value-added promises such as promotional announcements or banner ads.
In TCF Bank’s case, that includes that the full name of the stadium is said by sports, news, and professional announcers every time, no exceptions.
I have never encountered a businessperson who follows up to make certain that the advertising ran as agreed. Businesspeople seem to be happy to get the advertising schedule placed and the ad approved. At that point, they consider the transaction completed when actually it is incomplete. Interestingly, they do not follow this procedure with any other part of the business. New inventory is always checked against purchase orders. Hours worked are compared to hours scheduled. Payments are assigned to customers’ accounts, and the discrepancies addressed.
Why is advertising treated differently?
I think it’s because businesspeople have an attitude toward advertising that it is an untrackable expense. Many are frustrated with their advertising, and that feeling is evidenced in their not following up. TCF Bank executives may be the latest example of that. TCF Bank certainly is not being said in connection with the stadium. I wonder if TCF Bank marketing managers have noticed? I wonder what they are doing about it?
Do you check that your advertising ran as you agreed?
This week's marketing trivia challenge is What advertising have you tracked? E-mail me your answer.
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