By Nancy Garberson / Guest Column
Marketing and advertising are critical to the goals of your organization. But with limited resources it is important to make the most of your advertising dollar. Just blasting your message out as widely and as often as possible is only marginally effective and a big waste of time and money.
Visibility is essential for any kind of business – that is why advertising is important. Once an organization advertises its products and services, it is able to perform in a competitive environment. But knowing who your perfect customer is means you can reach the right targeted audience with the least amount of effort, dollars and time.
The significant purpose of a business is to sell products and services to earn profits. Advertising helps a business to earn profits by allowing more people to know about the products and services, and then get more sales. Consumers, on the other hand, will never get to know about the products and services if they are not advertised.
Today, advertising has become a huge industry because of the large number of products and services being offered. As a result, the competition has also increased, requiring every business owner to promote his or her products and services in the best possible manner. This has further led to the development of new advertising techniques and an increase in the number of advertising agencies. The aim of every promotional campaign is to enable the products and services to reach the right people by increasing the awareness about the product or service and its benefits.
Advertising can be achieved using various media, such as television, newspapers, radio, online ads and banners, direct mail, signs, brochures, websites and so on. Each advertising medium has its own pros and cons that need to be evaluated. The main objective to be considered is that the advertising medium selected must be able to reach a large number of your ideal customers.
Before you start, consider these dynamics:
Market analysis: First, you must study the market to segment your audience so you can target the right individuals. After researching your customer demographic, learn their habits and affinities. Use that information to reach your potential customers. Consider TV, radio, print, flyers, billboards, signs, and online ads, taking into account how you will reach your customers. Weigh cost vs. coverage vs. demographics in making this important advertising decision.
Audience:Â Who is your customer base? What do they value? How can you connect to them?
Selling proposition: Look carefully at your competition present to know how the advertising campaign would show your differences. How is your product/service better than the competition?
Message: What do your customers need? How will you convince them they need your products or services? And, how are you different from the competition? Give them a reason. Tell a story and connect.
Call to action: How does your ad compel your audience to take action?
Design – Your products and services do not want to be confused with any others. Remember your STP’s (What’s your segment, your target and your position?). Create a brand image. Develop an easily recognizable common color scheme, font, slogan and/or logo. Keep consistency from one advertisement to another, so that your ads immediately conjure up the image you are trying to convey and people instantly think of your product.
Advertising medium: The benefits and drawbacks of available media, such as television, radio, newspaper, internet, etc. must be studied in depth. Make an informed decision on the basis of their comparison and seasonal differences.
Cost-benefit analysis: This is to make sure a cost benefit of promoting a product or service using a particular advertising medium justifies the benefits it gains. Will it move the needle on customer growth?
Method of advertisement: Find the best approach to reach the perfect targeted audience from many methods, from large media to more guerilla tactics.
Creating the advertisement: The end result is the creation of an attractive and appealing advertisement that will get noticed and successfully communicate your organization’s benefits. When promoting products and services, there should be a clear message aimed at the right people.
Nancy Garberson is the owner of Marketing & Strategic Communication Strategies Inc., in Cedar Rapids, and an adjunct professor at Mt. Mercy University, teaching managerial marketing in its MBA and Master of Strategic Leadership programs.
