Marketing or Advertising is the exceptional manner to talk to the Clients/Customers. Advertising and marketing help inform the customers about the manufacturers available in the market and the type of products useful to them.
Advertising is for everybody including kids, old and young. it is done using numerous media types, with different techniques and strategies most suited.
Let us take a look on the main targets and significance of advertising.
Objectives of Advertising
There are basically 4 main objectives of advertising which we are going to be discussing about today and they include the following:
iii. Brand switch
iv. Switching back
Let’s take a look on these various types of objectives.
1. Trial: The organizations which can be in their introduction stage normally work for this objective. The trial goal is the one which includes convincing the customers to shop for the new product introduced in the market. here, the advertisers use flashy and attractive ads to make customers take a look on the products and buy for trials.
2. Continuity: This goal is concerned about keeping the existing clients to stick on to the product. The advertisers here normally keep on bringing something new in the product and the advertisement so that the existing customers will maintain buying their products.
3. Brand Switch: This objective is basically for those companies who need to attract the customers of the competitors. here, the advertisers attempt to convince the customers to interchange from the existing brand they are using to their product.
4. Switching Back: This objective is for the companies who need their previous customers back, who have switched to their competitors. The advertisers use unique approaches to draw the customers back like discount sale, new advertisements, some reworking carried out on packaging, etc.
Basically, advertising and marketing is a very inventive way of communicating with the customers. the primary characteristics one should have to get on their objectives are excellent communication skills and very good convincing power.
Read Also: 10 Smart Ways to Advertise your Business
Advantages of Advertising / Marketing
Prompting Immediate Action
Your print and other types of advertising must also prompt people to act immediately. Include a coupon in your ad to get people to try your product at the store. Include a deadline on your coupon so people know the offer is only good for a short time period. Offer a free trial of your product, or provide something free along with the product.
For example, a small mail order publishing company may offer a free book on investing if you buy its financial newsletter. Offer multiple products for the price of one. Another strategy is to state that you have a limited supply of products available.
Replacing Lost Customers
Small companies use advertising to replace lost customers. Your customers may switch brands, move away, or die, which is why advertising on a continuous basis is imperative. Increase the advertisements that are producing customers and orders, and drop ineffective ads. Look for new ways to advertise, including social media sites like Twitter and Facebook.
Building Sales and Profits
Advertising is designed to increase sales and build profits gradually, according to the U.S. Small Business Administration. People must try your products or services before they become repeat users. They may also tell their friends and family, which is additional advertising for you.
The key to building sales and profits is to gradually increase your advertising over time. Many small companies budget their advertising by allocating a certain percentage of sales toward it.
Building Brand Awareness
Small companies also advertise to build brand awareness, which is when people know a particular brand is yours. Brand awareness is usually calculated as a percentage. For example, if 1,000 people out of 10,000 in a market can identify your brand, your brand awareness is 10 percent. Your primary objective in building brand awareness is to make people think of your brand first when they are ready to purchase.