Advertising 101
By Vishal P. Rao
Advertising has truly become a part of all of our lives as
consumers, as business owners, as parents, as concerned citizens. We
simply cannot escape from its presence no matter how hard we try.
Considering how pervasive advertising is in our daily lives, it's no
surprise that people have such extreme views about it.
Many home-based business owners want to steer clear of it
altogether. They might dabble in marketing or use some sales
strategies, but most don't want much to do with actual advertising.
Unfortunately, this is a mistake on their part and it usually comes as
a result of not understanding the purpose of advertising.
So what is the true reason for advertising? According to Michael
Corbett, author of The 33 Ruthless Rules of Local Advertising, you
should advertise “to create an equity position in a target market and
to ...motivate a sufficient number of consumers...” In simple
language, you advertise so that people will know you exist and will
keep you in business. What's so evil about that?
Absolutely nothing! Here are a few very good reasons why you need
to start advertising today:
1. Potential customers are constantly shopping
The truth is that most people are always looking for ways to spend
their money. They don't always realize it, but they are. That's why
banner ads, commercials, and billboards work even though they are
being viewed miles away from the business. If you don't advertise,
you're missing out on a chance to tap into that human desire.
2. Potential customers may forget you
While the desire for shopping may be permanent, a consumer's memory
is not. Even if they have had a tremendous experience with your
business, even if they've recommended you to their friends and family,
even if you were the only company they ever thought of doing business
with, after awhile they would forget you or forget how to get in touch
with you.
3. Potential customers don't always make buying decisions
immediately
Another tried and true rule about consumers is that they don't
always decide to buy as soon as they see an ad. For example, if you
see a commercial for a fast food restaurant right after Thanksgiving
dinner, you're not going to run right out to the drive thru after
seeing the commercial. However, the next time you're hungry, you might
remember that commercial and choose to stop in then. So the idea of
advertising is to plant an image in consumers minds so that when they
need your product, your business comes to their minds.
4. Customers rely on name recognition to guide their consumer
choices most of the time
Why do people still buy name brand products over generics even when
the price difference is significant and the quality of the products is
equitable? Because of name recognition! Consumers respond to names
that are familiar whether they are buying a new car, a computer, a
lawyer, or ketchup. If you want to succeed, you need to be sure that
your targeted audience will know your name when they hear it and will
think of your name when they need your product. Advertising can make
that happen.
On the other hand, many business owners see advertising as a quick
fix. If business gets a little slow, a newspaper ad or a direct mail
piece will fix everything in a jiffy. That's not the case either. Let
me give you a few reasons why.
1. Advertising works on a six month cycle
Many times when people think their advertising hasn't worked, it's
because they haven't waited long enough to see results. Generally, the
advertising you do today won't fully pay off for another three to six
months. For that reason, if you want to ensure a consistent stream of
customers, you need to continue to advertise all the time. Advertising
only when business is slow simply won't save your business because by
the time you start seeing results, it may be too late.
2. Your problems are related to another step in the process
Another reason advertising can't cure everything is that simply
attracting customers is only one step of the process. Once you lure
them in, you need to have the content or the customer service to
convince potential buyers to take that next step. If any step in the
process is lacking, then no amount of advertising is going to help.
3. You are neglecting your current customers and their potential
Don't make the mistake of focusing all of your efforts on finding
new customers when your best source of additional revenue is being
neglected. Past customers are more likely to become repeat customers,
plus they don't require the additional expenses of marketing and
advertising.
As you can see, the truth about advertising is that it can be a
powerful force for your success if handled correctly. Too many people
see it as an evil force or as a business miracle when the reality is
somewhere in between.
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Vishal P. Rao is the owner of
Home Based Business Opportunities - One of Internet's leading
website dedicated to starting, managing and marketing a home based
business.
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