Bigger Advertising is Better for Hyundai
We’ve all heard the phrase “no risk, no reward”. Hyundai took that phrase to heart dishing out an extremely high amount of money for their recent advertising ventures. Hyundai’s U.S. CEO states that this risk was well worth it.
Hyundai was a large sponsor of this year’s Grammy Awards, aired two commercials during the Super Bowl in February, and ran nine spots during the Academy Awards last month. Many auto manufacturers weren’t even willing to put up the money for one Super Bowl TV ad spot.
Hyundai’s advertising budget is roughly half-a-billion dollars, so in the grand scheme of things, advertising in the big events isn’t setting them back too far. In February Hyundai’s sales increased 12.8% and grew their market share from 4.4% to 4.5%.
Hyundai is looking to establish their selves as large brand, thus targeting audiences through these large media events makes them appear to be a large brand. Hyundai has had an extreme influx of traffic to their consumer websites, especially after those large promotional events.
The Elantra was promoted during the Academy Awards and sales grew 51.6% in February. Sales of the Accent subcompact car rose 23.8% in the month. Those are just two of the increases that Hyundai has seen since their new marketing efforts have been set into action.
The small Korean car manufacturer’s sales are on the rise. Consumers are eating up the highly publicized Hyundai vehicles, bringing in more return on their high invested advertising. It’s hard to debate Hyundai’s tactics after seeing their results.