Are consumers likely to be attracted to certain advertisements in periods of economic turmoil? The answer is yes, at least according to Oricom, a local advertising agency.
In a down economy, consumers prefer ads that are rich in content, cheerful and stylish as well as those that get to the point rather quickly and convey a sense of trust, according to an analysis by Oricom. The institute analyzed the top 200 advertisements selected by consumers online (www.TVCF.co.kr) from last October to May, a period when the economy was in the dumps.
Of the 200 ads, 60 percent introduced products directly, and nearly 70 percent highlighted facts about the products. About 15 percent of the ads used entertainment and special effects, and 59 percent used humor.
Based on the analysis, Oricom came up with some tips for companies looking to advertise during a bad economy. For one, businesses shouldn’t be timid in promoting their products, the agency said. Companies like Woongjin Coway and Cuckoo, for instance, aired ads frequently to communicate with consumers.
Businesses also should avoid beating around the bush. Doosan Heavy Industries and Prudential Life Insurance developed well-liked ads centered around the fact that they are the top companies in their sectors.
Consumers also prefer ads that are rich in content, and they want to know the benefits of the products, Oricom said. Also, the company said advertisements should be simple and convey hope. For example, consumers liked the slogan for a Samsung Group ad - “We will make it again” - and one by KB Financial Group, “Tomorrow’s hope.”
“Companies can turn things around by promoting efficient brand marketing ads in a bad economy,” says Hur Woong, director of Oricom’s brand strategy efforts.
In a down economy, consumers prefer ads that are rich in content, cheerful and stylish as well as those that get to the point rather quickly and convey a sense of trust, according to an analysis by Oricom. The institute analyzed the top 200 advertisements selected by consumers online (www.TVCF.co.kr) from last October to May, a period when the economy was in the dumps.
Of the 200 ads, 60 percent introduced products directly, and nearly 70 percent highlighted facts about the products. About 15 percent of the ads used entertainment and special effects, and 59 percent used humor.
Based on the analysis, Oricom came up with some tips for companies looking to advertise during a bad economy. For one, businesses shouldn’t be timid in promoting their products, the agency said. Companies like Woongjin Coway and Cuckoo, for instance, aired ads frequently to communicate with consumers.
Businesses also should avoid beating around the bush. Doosan Heavy Industries and Prudential Life Insurance developed well-liked ads centered around the fact that they are the top companies in their sectors.
Consumers also prefer ads that are rich in content, and they want to know the benefits of the products, Oricom said. Also, the company said advertisements should be simple and convey hope. For example, consumers liked the slogan for a Samsung Group ad - “We will make it again” - and one by KB Financial Group, “Tomorrow’s hope.”
“Companies can turn things around by promoting efficient brand marketing ads in a bad economy,” says Hur Woong, director of Oricom’s brand strategy efforts.
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