As new brands enter the market daily, companies struggle for the attention of their target audience with customers having more options. So, what role does the advertisement play here? Advertising is one of the most important aspects of any business. It is the most direct and important connection between the company and the consumer.
When consumers feel personally connected to a company they are more likely to prefer its products or services. For some businesses, it is a vital question whether or not to invest in an advertising budget? Will it be worth it? Here is a list of benefits your company can achieve if it opts for a good advertising scheme.
Advertising allows companies to target their customers and maintain a strong and lasting connection with them. It builds familiarity and trust within the consumer, ensuring that they would remain loyal to the business. It makes use of images, words, and ideals to grab your targeted demographic and influences them to stay devoted to your business.
INCREASES COMPANY TRAFFIC
Customers often come to know about a business after viewing an advertisement. More the customers, more the sales, leading to business scalability. A survey found that advertisers who expanded advertising over five years, gained an increase of 100 percent business growth, and on the other hand, companies that eliminated advertising witnessed 50 percent growth.
A POSITIVE IMAGE
Advertising makes consumers and your competitors think that you are open and ready for business. Strategic and well-planned advertisements can attract consumers to your business regardless of the finances and competition around the market.
ATTRACTS NEW CUSTOMERS
The market is constantly evolving and new customers are moving in and out of the area of your business. New customers mean a new targeted audience to which your advertisements need to reach. Advertising reaches the consumers that are new to the market and makes sure that your business is at the top of the line and attracts them.
HELPS IN CLIENT RETENTION
With all of the choices consumers can make, many once-loyal consumers have moved from previous businesses to new businesses in search of other options. Advertisements help in reminding your consumers why they chose your business in the first place and why they should continue to choose you in the future.
There are plenty of customers that are willing to buy your company’s product at any given time. Advertising helps businesses stay at top of the game while being in competition with other businesses. Advertising helps your business to convince the consumer that you are the one they should choose.
Advertising produces continuous business in this large world. Not every consumer needs your business’s product today, but every day there might be a new consumer ready to buy your products or services. Advertising reaches the consumer when they are in need. A continuous visit of consumers to your business is the first step to increase your sales. As the number of customers increases, the business profitability increases. Advertising creates business for now and for the future.
KEEP YOUR BUSINESS ON THE CUSTOMER’S MIND
In this wide market, there are so many options available to consumers. And they might oftentimes want to shop around and compare different products. Advertising makes sure that your company is always at the front of a consumer’s mind reminding them why they should opt for your company and its products.
KEEPS UP TO DATE
Whenever your company launches a new product or event, advertising allows your consumers to be well informed and aware of the details. Advertising does all the work for your consumer to gather information in one place and provide it, rather than forcing your consumer to hunt down the information.
Finally, it is quite obvious that Advertising works. Advertising grabs customers’ attention to your business and increases your sales. When customers see solid and positive advertisements they are more likely to buy and choose your business thus invest in advertising for your business to watch it grow and succeed.
- In 2014 Coca-Cola used the FIFA World Cup campaign, ‘The World’s Cup’ where they featured a series of events like unveiling the photomosaic that they’ve created at the start of the games, to hold the FIFA World Cup Trophy Tour across 90 countries. It was one of the most successful advertising campaigns which helped in increasing the brand equity to $81 Million, ranking 3rd on the Interbrand Best Global Brands in 2014
- Apple’s brand value has been constantly on the rise over the past 10 years and ranked first on Interbrand Best Global Brands in 2019 with a brand value of $234 Million.
An average person sees more than 4000 ads per day which means that there is a high probability for your products’ advertisements to reach a wide audience while displaying your products or businesses in just a few matters of time.
Doesn’t matter whether you are advertising for your start-up or for a big company, there is no doubt in the fact that advertising has proven to be an essential aspect of every business.