Hyundai has implemented a “big voices in big places” advertising strategy. In order to back this new strategy Hyundai spent an extremely high amount of money in their recent advertising ventures. Fortunately for them, it seems to be working just as they had hoped.
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.
It’s obvious to see Hyundai’s strategy has recently been successful, but how long can the sales increase? The highly viewed programs are started to spread out through the rest of the year, it will be interesting to see what is going to happen to Hyundai’s sales in the next year.
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