Business is Great! What Are the Benefits of Advertising?
Working in the field of advertising and marketing, I often come across people who don’t understand the benefits of advertising. “Business is great,” they tell me. “So why should I continue to pay money to push out ads when I could be spending money elsewhere?”
You probably already know that the main point of advertising is to obtain-and-retain customers that will spend money with your business. But, assuming you’re a law firm, a consultant, or an ecommerce retailer who does most of your business through word-of-mouth networking and referrals, you may find yourself questioning whether your market budget could be better allocated elsewhere. The same people will tell me that since business is fine, there’s no need to waste money by pushing to get more. Oh, if only that were the case.
If we were to rely on that kind of logic, then you wouldn’t see daily ads from the nation’s biggest brands such as Coca-Cola, Pepsi, or Disney. [quote]Business is booming at these companies, and yet they still spend millions of dollars each year to remain in the public’s consciousness.[/quote] So, if business is generating high profits and you’re wondering whether your ad budget should be spent elsewhere, the team at our Florida advertising agency wants you to consider the following:
Are You Concerned With the Possibility of Market Share Erosion? If you’re not advertising and your competitors are, then don’t be surprised if your potential customers choose the company that keeps advertising its lower fees and better results.
Are You Satisfied with the Market Itself? By not advertising, you could be implying that you have little concern that others are offering better services and better deals. This is a sure way to lose out to your competitors.
Do You Worry About Losing Touch With Potential New Customers? If you’ve been in business for a while and aren’t advertising, then you must consider how you going to rebuild your customer base when your target audience outgrows your business or service? By advertising, you can continue the cycle of trying to reach new customers without having to scramble once it’s too late.
Does it Bother You that People May Forget About Your Business? People forget quickly, especially in this age of social media. The more advertising and marketing touch points you have in place to actively engage with potential customers, the higher the likelihood of making these people convert. This is precisely why ad remarketing and site retargeting work so well.
How Do You Feel About Losing Your Existing Customers? The more you can be a part of peoples’ daily lives, the more they’re going to continue to come back to you. This is why advertising, social media, email marketing and direct mail are such effective methods of retaining customers. They have to remember you to want to select you, and when they don’t remember you, that’s when you lose them.
Need more convincing of the benefits of advertising? Let BIGEYE show you real results. Contact us today, and we’ll show you how happy we’ve made our clients and their customers.
The reason big companies spend so much money on advertising every year is because they know it works. And, it can work for your business, too. To learn more about the ways that advertising can maintain steady business and potentially grow your revenue, contact the team at our Orlando advertising agency for a consultation. We can help you to navigate the complex landscape of advertising to help achieve the highest return on investment for your company, no matter the industry.