10 Benefits Of Advertising
Whether a business is a multi-billion dollar national chain store or a small "mom and pop" shop, all businesses should know 10 benefits of advertising. Every time you pick up a newspaper, turn on the radio or watch television, you’ll be exposed to adverting by businesses who understand the importance of marketing.
- Identify Advertising lets people know you’re in business. It conveys your business name and the type of products or services you offer.
- Reach out A big example of the benefits of advertising is bringing potential customers to your store who might otherwise never know you exist. A storefront is only seen by people who walk past your door, but advertising can reach out to others in the surrounding towns and counties.
- Special sales and promotions can be advertised that get people’s attention. Perhaps someone has been thinking about getting a new mattress, and when they learn about your store having a sale, it could be just the incentive they need to make a purchase.
- Hours of operation. Nothing is more frustrating than going to a store to buy something you need and realizing they are closed. The potential customer may just go somewhere else to make their purchase. One of the benefits of advertising the days and hours a store is open is to help prevent a loss of sales.
- "Word of mouth" is said to be one of the best forms of advertising, and it’s true. A satisfied customer will often tell others of their experience, which can result in future sales. Media advertising in newspapers, on radio and TV will help get new customers who will then increase business by their spreading the word to their friends.
- Seasonal Promotions There are great benefits of advertising for specialty items or seasonal products. Perhaps you sell products that only your store has locally, such as musical instruments. Advertising special seasonal items, such as selling Christmas trees, can bring additional sales at certain times of the year.
- Confidence Business owners often don’t realize that one of the benefits of advertising is making potential customers feel more confident in a business they see advertised. It gives them the sense that the business is professional, stable and reputable.
- Blitz Every time you watch a football game on TV, you’ll see beer advertisements. These companies are huge, and they have plenty of customers, but their goal is to keep their products’ names in front of consumers. If you see a commercial for a certain candy bar dozens of times, the next time you’re in a convenience store and see that candy bar, you’re more likely to buy one.
- Consistency A business that stops advertising may give the impression that the business is out of business. When people see a business advertise for a long period of time and then stop, they may get the false impression that the business is no longer there, even though it is still open. Consistent advertising yields the best results.
- Invest Another of the benefits of advertising that many businesses don’t realize is that it takes money to make money. An old saying in the marketing industry is "Advertising doesn’t cost, it pays." Sometimes you have to invest money to make money, and advertising should be an investment that is included in a business’s annual budget.