For every dollar spent on marketing, the average return on investment is $0.70.
To even make a profit, you’d need to figure out how to increase your return on investment, and then you’d need to let the cents add up over thousands of dollars. At this speed, think about how many hours you’d need to spend on your marketing strategy just to earn $100 worth of profit.
But when you understand the importance of advertising, you’ll be able to create a more effective strategy. This strategy will be better suited to your business and audience, whether that’s social media, outdoor, or print advertising.
So why is advertising important for your small business? Keep reading to find out and finally get your small business out of its marketing rut!
Builds Brand and Product Awareness
One of the biggest benefits of advertising is that it helps new companies showcase their brands.
Using color and font combinations as well as having a great logo will help build brand recognition as well.
This way, even if some people aren’t your customers yet, you’ll be at the top of their list when they end up having a problem that your product or service can solve.
If you’re an existing company, advertising will help you make a large number of people aware of your new product.
Promotes Sales
Ads are also a great way to inform your customers about any limited-time offers, holiday sales, and promotions.
While you can do this through your email list, you can’t guarantee that all your customers are going to open up your emails.
But let’s say you run a banner ad instead. This way, you can let both existing and new customers know about any limited-time promotions you have going on.
Lets You Target Ideal Customers
One of the top advertising tips is to use your ads to reach out to your ideal customers by aligning with their values.
For example, let’s say you’re a company that sells healthy snacks for kids. Your brand values are likely to be about clean eating and helping kids grow with the right nutrition.
When a company like this shows these values in its advertising, like-minded parents are more likely to connect with it and buy the product.
Helps You Stand Out From Your Competition
If we take basic items like toothbrushes, we know that they don’t vary all that much in their effectiveness.
But let’s say you run types of advertising that consumers like and get to the root of their problem. Then, you’re much more likely to stand out from other toothbrush companies.
This also helps when you’re advertising in high-traffic areas, such as with mobile billboards (check out this page for more).
Now You Understand the Importance of Advertising
We hope this article helped you understand the importance of advertising, no matter how small or new your business is.
No matter what types of advertisements you go with, always remember to show customers why your brand offers the best solution to their problem.
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