Any number of claims will be made about this weekend’s Bronco victory in the AFC Championship game, but one stands out above the rest.
“Sponsorship evaluation firm Front Row Analytics said the city of Omaha got its money worth with each verbal mention of Omaha worth the equivalent of $150,000 in advertising.“
This claim, from an ESPN story about Manning’s calls during the game – each of which generated donations to Manning’s Peyback Foundation, ignores marketing reality and most likely determines the value of advertising based on conference championship football game advertising rates.
Problem is, that’s not what determines the value of advertising – though it can impact the price.
While the PR and donation campaign by the Omaha Chamber is pretty smart, don’t even think about believing the claim that “each verbal mention of Omaha is worth the equivalent of $150,000 worth of advertising”. In no universe is this claim going to hold water.
It’s quite clear that Omaha Steaks’ SVP Todd Simon understands the nature of this project – in this quote from the same ESPN story:
“This is really great for Omaha as a community and for the businesses that are embedded here,” said Todd Simon, a senior vice president of Omaha Steaks, which his family owns. “Who knows whether any of this will translate to the bottom line, if ever, but it can’t hurt.“
The emphasis in the above sentence is mine.
Don’t get me wrong. This was a very intelligent project by the Omaha Chamber and they should be quite proud of what they pulled off. It’s particularly impressive to see them jump on it so quickly and get something fun, beneficial and PR-friendly organized after last week’s game against the Chargers, where Manning said “Omaha” 44 times.
It’s also a great example of the “Use the news” tactic that we’ve discussed repeatedly in the past.
“It can’t hurt”
If each of Manning’s 31 mentions of “Omaha” are worth $150k, then Front Row should be able to describe how Omaha can track those mentions to purchase / investment and related actions made as a result. Obviously, I don’t believe they can do this. They can certainly inquire at every sale made over the next few months, but this is unlikely to produce results that would provoke someone into additional advertising investments.
Small businesses should not be investing their marketing budget in “who knows…but it can’t hurt” advertising.
Every bit of your advertising spend can be tracked so that you know whether it worked or not. Don’t let it out the door if it isn’t trackable.