Whoever says advertising is dead couldn’t be more wrong. Advertising is, and will always be, a very useful tool for helping businesses complete its marketing plan and strategies. It’s a way to get your company’s message out to the general public and if done correctly, can provide great ROI.
All businesses actually do some sort of advertising when promoting their products or services, but in today’s technologically driven business climate, most of that is done online via the Internet or social media. The traditional model of advertising is still practiced by placing ads in newspapers, magazines and direct mail campaigns, but many would rather spend their advertising dollars in the digital space. Here is how advertising can solve the biggest problems with your company and/or brand:
Create Brand Awareness
To get the word out on your company, products and services, you need to grab your customer’s attention. If you don’t, how will they ever know about what you do? To do so, a company needs to consistently create a unique and cohesive strategy to evoke their customer’s brand awareness by placing ads in places that will get a lot of eyes and is relevant to what the business does. These ads should communicate the benefits of your services and encourage the customers to want to buy your products. Beauty companies advertise in women’s magazines and beauty blogs because they know women always read these types of materials in search of new beauty products.
To Remain Competitive
With so many competition out there these days, a company needs to do all it can to remain competitive. If your competitor is advertising on blogs, websites and the local newspaper, then it might be time to think about doing the same. Because if you opt out to do so, your competitor will most likely have better sales at the end of the year because more customers became aware of their business through their advertising efforts. So while you refused to advertise to get noticed and spread the word on what your company does, your competitor not only increased their sales, but also their customer base. And all you’re left with is a fat zero for both. Advertising lets you stay competitive so that customers can see that your competitor isn’t the only one that offers a particular service or product.
If a business’ advertising efforts are effective, their ROI can be significant. Which is why many companies spend the extra money and time on quality advertising campaigns. If they’re not created in-house, many businesses look for third-part firms that specialize in advertising. If done correctly, advertising campaigns can significantly increase sales of new products, businesses and new services.
Develop Market Position
Advertising can be very effective in helping your brand develop its market position or build a particular niche. If you’re selling high-quality items, you might want your company to be recognized as producing only the finest item around and will want your advertising campaigns to reflect this particular theme that supports vital attributes of your product or service. Once a customer sees your advertising efforts, they’ll be able to associate quality with your company.