Advertising is arguably the most critical part of a business, next to delivering a unique value proposition. It is the most direct and crucial link to the consumer. Customers are more inclined to do business with you if they feel personally linked to your company.
Some businesses baulk at the advertising cost, which is a significant error. Around 50% of customers who see your Pay-Per-Click ad are more likely to purchase than organic visitors. That’s a significant opportunity cost you don’t want to miss out on. Here are five essential reasons why advertising is a business’s best friend.
1. Bring in New Customers
The market is constantly changing, and new customers are constantly entering the market, from fresh employees to newly-married couples. A new set of customers imply a new target audience for your advertising campaigns. Advertising keeps your company products in customers’ minds and helps them remember your company is the best in the business and the one they must choose when the need arises.
2. Increase Business Sales
What it all boils down to is that advertising works. Advertising draws consumers to your business and boosts revenue. When customers see appealing and convincing marketing, they are more likely to buy and pick your company. If you invest in advertising for your company, you’ll help it reach greater financial heights.
3. Foster Loyalty to Your Brand
One of the advantages of advertising is that it instills a sense of brand loyalty. A product shown in advertising conveys pictures, values, and a personality corresponding to the targeted demographics. Consumers can better relate to a product if these values are closely aligned.
Businesses rely on the notion that this emotional connection will result in the customer purchasing the goods. A commercial for an Italian-style scooter, for example, may depict a youthful 20-something having a cappuccino on the streets of Italy. This image may appeal to young ladies, causing them to connect with (and, preferably, purchase) the goods.
4. Make Your Business Stand Out From Competition
How can one stand out from millions of businesses, old and new? Competitive and targeted advertising. A firm may sell something as simple as soap and outperform a competition merely by running advertisements that people enjoy. The soap needs to perform its job, but the difference between one soap to the next is typically marginal. It all boils down to branding and marketing.
5. Advertising Helps You Target Ideal Customers
Strategic advertising allows a company to reach out to the clients who are most likely to buy from them. Previously, this included selling health items in fitness publications and broadcasting toy commercials during children’s television shows. Thanks to digital marketing and in-depth data analytics, businesses can get incredibly specific about who sees their advertising and has already purchased their items, lowering cost and maximizing ROI.
6. Raise General Awareness of Your Product
Advertising also informs customers about the unique aspects of the company’s products. This is especially important for new enterprises or established organizations introducing new and innovative goods. For example, tech companies often produce ads showcasing their product’s intricate features to entice future-oriented individuals looking for the next possibilities. Brochures, online tutorials, and how-to videos are great ways of advertising that raise product awareness and build your company’s credibility.
There is no reason a business shouldn’t advertise, no matter how big or small. This will always be a crucial aspect of business success, and by staying on top of trends, using your knowledge, and being consistent, your company should see an excellent ROI.
Marvel Marketing is an advertising agency in Calgary that can help you convert leads to purchases by utilizing A/B split testing and other strategies to lower your cost-per-click and increase high-quality conversions. Learn your advertising pain points and how to solve them by booking a consultation with us today!