Why Is Advertising So Important to Business?
Probably one of the most famous advertising quote is Henry Ford’s : “A man who stops advertising to save money is like a man who stops a clock to save time”.
The sole purpose of a commercial business is to sell products and services and return a profit. Advertising is not complicated, it simply as a tool to help a business to earn profits by enabling more people to know about the products and services, which consequently results in more sales.
Consumers will never get to know about who you are and the products and services you provide if they are not advertised.
Consumers now have more choice on any product or service than at any time in history!
Competition has increased requiring every businessperson to promote their products and services in the best possible manner. The aim of every promotional campaign is to enable the services and benefits the business provide to reach the right people by increasing the awareness. This is important for the success of all businesses.
So where does advertising and marketing sit on your balance sheet?
That should be simple, look on advertising not as an expense, but an investment in the company.
Companies that view marketing as an investment understand that in order to grow their businesses, they must continually invest in creating new leads and new customers!
Does your business need advertising? Most definitely!
You may think you can get away with “word-of-mouth” but you can’t. Advertising is critical to your business’s long-term success. It can win you new clients, help you keep existing clients, build brand awareness, and enable you to establish a foothold in new markets.
Here’s what business guru Peter Drucker says: “Because the purpose of business is to create a customer, the business enterprise has two - and only two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.”
Astoundingly, according to studies and average person sees at least 5,000 adverts per day which means that it is possible for your businesses advertisements to reach out to a large audience while communicating the exclusive selling points of your products or services in just a few minutes or even seconds.
Remember the old adage “market yourself in the future in the same way you did in the past expect the same results”.
Advertising increases awareness and sales for your business and does so by helping to distribute your content, distinguish your brand from your competitors, increase brand awareness, create desires, and building new and retaining existing customers. However, getting to know the importance of advertising is just the beginning of the enjoyable journey to grow your brand.
We hope that this article has assured you that advertising is a vital component of your business in helping achieve your goals!