Advertising is an important component of your marketing strategy. The aim is to promote your business and communicate the information you want to send to your intended audience, usually with the aim of increasing sales or making your audience aware of your products or services. Until a customer deals with you directly and actually buys your products or services, your advertising may help to form their first impressions of your business. Advertising can certainly attract new customers - but only if it's done properly. Otherwise it can deter potential customers.
Importance of Advertising
Advertising plays a very important role in today’s age of competition. Advertising is one thing which has become a necessity for everybody in today’s day to day life, be it the producer, the traders, or the customer. Advertising is an important part. Lets have a look on how and where is advertising important:
Advertising is important for the customers
Just imagine television or a newspaper or a radio channel without an advertisement! No, no one can any day imagine this. Advertising plays a very important role in customers life. Customers are the people who buy the product only after they are made aware of the products available in the market. If the product is not advertised, no customer will come to know what products are available and will not buy the product even if the product was for their benefit. One more thing is that advertising helps people find the best products for themselves, their kids, and their family. When they come to know about the range of products, they are able to compare the products and buy so that they get what they desire after spending their valuable money. Thus, advertising is important for the customers.
Advertising is important for the seller and companies producing the products
Yes, advertising plays very important role for the producers and the sellers of the products, because
- Advertising helps increasing sales
- Advertising helps producers or the companies to know their competitors and plan accordingly to meet up the level of competition.
- If any company wants to introduce or launch a new product in the market, advertising will make a ground for the product. Advertising helps making people aware of the new product so that the consumers come and try the product.
- Advertising helps creating goodwill for the company and gains customer loyalty after reaching a mature age.
- The demand for the product keeps on coming with the help of advertising and demand and supply become a never ending process.
Advertising is important for the society
Advertising helps educating people. There are some social issues also which advertising deals with like child labour, liquor consumption, girl child killing, smoking, family planning education, etc. thus, advertising plays a very important role in society.
Advertising can be anything from your shop sign or a website, to an advertisement in a trade magazine or a 30-second radio slot.
- provide basic information such as your contact details and website address
- increase sales by telling potential customers about your product or service
- tell customers about changes to your service, new product launches and improvements
- increase your short-term sales with a specific one-off message - informing people of a special offer or a particular benefit of your product
- prompt specific action - perhaps getting customers to visit your premises or website, or use a discount voucher by a specified time
- remind existing customers about your business
- change people's attitudes and perceptions of your business
- help to create or develop a distinctive brand for your business to help you stand out from your competitors
- make your business first choice for customers, ahead of your competitors
- generate awareness of your business
- develop a particular market niche or position
Advertising doesn't always need to be about sales and marketing. You can also use it to:
recruit staff -a recruitment advertisement should also be a chance to promote your business
source suppliers and contractors -this also helps to position your business as active and expanding Target your customers
Decide whether your target audience is local or regional, national or international, or a mixture. Remember that a local business might benefit from national advertising, particularly if it is looking to expand into new territories. You can advertise in a wide range of different media. Using a media mix can help to reinforce the message or information you want to communicate.
Before selecting a particular type of media, you should find out from the media business and other independent sources about their circulation or audience figures and what the audience penetration, or 'reach', of their product is. Basically, you need to know how many, where and who to. Figures can normally be broken down into age groups, average income and other useful indicators.