Technology has created an environment where advertising is front and center on a number of platforms. No matter how small or large your business is, finding a way to advertise can help you reach your audience and increase sales. In fact, in 2018 businesses made an average of $2 in revenue for every $1 spent on Google Ads, and appearing in mobile search ad results can increase brand awareness by 46%. Businesses who have kept up with advertising trends and stayed the course have seen success. Here are seven reasons why your business needs to be advertising:
1. There are Customers You Have Yet to Reach
Businesses often think if they have longevity, they don’t need to advertise. This mindset of ‘everyone who needs to know about our business already does’ will not work. Anheuser Busch is a great example of a company that has been around for a very long time but still uses advertising as an effective tool to their advantage.
While your brand might be well known by the majority, consumers are constantly transitioning where they are at in their buyer’s journey. And even though they haven’t been a potential customer in the past, there is a chance that they are making lifestyle changes that will place them within your target demographic. Through consistent advertising, you are able to stay in front of your target audience and potential consumers.
2. To Position Your Business as an Industry Leader
By continuing to advertise, you can position your business as an industry leader. Your ads have the ability to put your business ahead of the competition or the curve by utilizing upcoming trends. According to Business Wire, two-thirds of consumers can recall a specific brand they have seen advertised within the last week.
3. Reach New Goals
Advertising can help you reach your goals through increased foot traffic, generating leads, introducing new products, bringing traffic to a web page, improving brand awareness, and highlighting product enhancements. There are effective ways to do this.
For instance, HBO wanted to get more viewers and subscribers for the final season of Game of Thrones. They partnered with Bud Light to create a mash-up shown during The Super Bowl that catered to NFL fans, Game of Thrones fans. This resulted in the new Game of Thrones fans that started watching (and buying Bud Light) as a result of the advertisement. Working with a media company you can count on will help you utilize the right campaigns and platforms to meet and possibly exceed your goal.
4. There is Always Something to Advertise
As a business, there should never be a point where there’s nothing to advertise. Businesses have holiday sales, flash sales, promotions, product/service launches, community outreach, success stories, testimonials, and how-to’s on a revolving basis.
By working with a media company, they are able to guide you in the right direction to make sure that you are advertising on a consistent basis that speaks to your target audience’s pain points and where they are in the buyer’s journey. When you strategically plan out your advertisements based on important factors, you can see more success in your efforts.
5. No Business is Too Big or Too Small for Advertising
Some businesses may reach certain milestones and think they no longer need to advertise. There is always someone you can reach that doesn’t know about your business and new customers transitioning into the space of your target audience. Pepsi is well known, but still advertises with great success. Why? They consistently revamp their campaigns and add new ambassadors to connect with existing and potential customers.
6. Any Chance to Increase Brand Awareness is One You Should Take
When your business participates in community outreach, it should be advertised. More often than not, business partners with local organizations and charities to do good in the community. Creating a video for social media, running an advertisement on TV, launching a social media campaign, or having a dedicated landing page on the website can have an impact and reach. Working with a media company in this area will help with utilizing best practices for advertising these kinds of efforts to increase brand awareness.
7. Advertising is Forever
Advertising has been around for a long time and will continue to evolve in different ways. A trusted media company is able to guide you in the right direction, helping provide insight, and selecting platforms and mediums that will benefit your company.
No matter how big or small, successful or seasoned, your business may be, there is no excuse why a business should not advertise on a consistent basis. This will always be an important element of business success and by staying on top of the trends, utilizing your knowledge, and being consistent, your business should always see results from your efforts.