The world of advertising has undergone considerable change. DVR's and the Internet have drastically altered the way businesses all over the globe promote their products and services. Aspiring sales people are being introduced to a whole new set of buzzwords. Terms like 'audience fragmentation' and 'consumer-centric campaigns' are now the focus of sales training programs and classroom lectures far-and-wide.
These relatively new terms originate, more or less, from the purported assertion that people no longer sit in front of their TV passively watching commercials. Similarly, it is widely held that people are not reading newspapers and magazines or listening to radio with regularity. Sure enough, the promotion game has evolved dramatically beyond the traditional outlets of television, radio and print. It now includes the widest ever spectrum of visual, audio and electronic media. Today's web sites features pop-ups, popovers, audio messages, flash videos, RSS and animated sales people who actually interact with customers.
Does all this mean the end of traditional advertising? Not a chance. It does, however, place sales people at the crossroads. To thrive in the face of constantly growing competition, it is essential to recognize these rapidly changing technologies. As always, advertising is a powerful driver of a business's success, and has a substantial influence over the way the marketplace perceives their offerings. The difficulty, especially on a limited budget, is knowing how to sift through these evergrowing options, and determining which mediums most benefit your particular situation.
The solution is, knowing who your customers are . . . which mediums they use and what their interests are. By doing so, you will identify promising leads, and ensure that your money is spent in an efficient manner. Beyond increasing sales, advertising has several enormous benefits which need to constantly be reinforced with prospects and current clients.
Here's why businesses should continue to invest their hard-earned money in advertising.
Builds Awareness: People forget fast. They are inundated with an estimated 2,800 messages a day. The more impressions a business makes, the longer people will recognize a company. Advertising reaches customers regardless of their reading, listening or viewing habits. Awareness and recognition build familiarity and trust.
Reach New Customers: The market changes constantly. 20% of U.S. families moved last year. 2.4 million people married
and 3.3 million babies were born. People are also earning more money each year. A bump in income usually means a change in lifestyle and buying habits. The shopper that a business did not consider a few years ago, may have evolved into
a prime prospect.
Hold On To Existing Customers: Many companies flourish on repeat visits or on referrals. If existing customers do not hear from you or about you, they'll tend to forget about you.
Continuity: Shoppers do not have the store loyalty that they once had. Businesses must advertise to keep up with the competition. Stores must promote themselves to not only seek new customers and keep current customers, but must also convince them not stray to the competition.
Remain With Shopper Throughout the Buying Process: Customers postpone buying decisions for a myriad of reasons. Many go from store to store comparing price, quality and service. Advertising must reach them steadily. The business name must stay fresh in their minds.
Because The Competition is Advertising: There are only so many consumers in the market who are ready to buy at one time. Advertising must be done to counter balance the advertising efforts of the competition.
It Pays Off in the Long Run: A troubled economy can be an advantage to the marketing-minded business owner. Advertising when times are bad can give a business a long-term advantage over a competitor who cuts back or cancels promotional efforts.
Generate Traffic: Advertising tells your customer and competition that your doors are always open. Continuous store traffic is the first step toward increasing sales and expanding you base of shoppers.
Maintain a Healthy, Positive Image: In a competitive market, rumors of bad news travels fast. Advertising corrects misleading gossip. It also strengthens your identities. When a company stops advertising, they are short changing their reputation and reliability.
Preserve Morale: When advertising is suddenly cut or canceled, employees may get worried. They may start sales rumors in a sincere belief that the business is in trouble. Advertising also improves the owners morale, when they witness the benefits of an ad campaign.
Traditional advertising is not dying - far from it. It is still one of the basic marketing expenses for almost every business. At the same time, controlling costs and maximizing the impact of every dollar spent is critical for almost every business. Businesses have come up with the clearest advertising strategy based on what their customers want.
POWERFUL AS EXPOSURE!
To find out more about Television Advertising, and what Television can do for your small business, call our local sales managers at KTAB or KRBC TV at 325.695.2777