The simple answer is, yes! Commercials can be a very effective tool for your company, if done correctly. A study done by MarketShare from 2009-2014 shows that TV is still one of the top ways to reach your audience, beating out online ads and radio commercials.
Reach Your Target Market
Like with any other type of marketing, its not about reaching as many people as you can. It's about reaching as many of the right people that you can, the people in your target market. You want to make sure your commercial is on the right channel in and the right time slots to ensure your commercial is being seen.
Think Outside the box
If you're worried about people who no longer have cable or satellite TV, aka "cord cutters", then you still have options. You can have your commercials appear on TV Streaming services, like HULU. The commercials are location driven and can even be played during a certain show. For instance, if you sell flooring you can make sure your commercial appears to people in your area that are watching "Fixer Upper". This is an excellent way to reach a new but desirable market as well.
Now that you know TV commercials are still an excellent, if not one of the best, way to reach your audience all you have left to do now is plan your commercial!