Advertising is a strategic way of communicating with an audience or potential customers about a product or service. Whether online or on billboards on top of the building, the aim is simple, to create awareness that’ll promote patronage. That said, if you’re new to organizing or managing advertising campaigns, not to worry. With this article, you’ll understand the basics of advertising, the various types, and the essential tips you need.
Importance of Advertising
Advertising isn’t just crucial to big firms or large companies that want to reach a large audience. It has become an essential part of every economy that its importance cuts across the producers, middlemen, end-users, and society. Here, we will define the importance of each one.
Today’s market is a competitive one. So, an organization can’t improve its revenue position unless it can significantly multiply sales turnover. Advertising comes in here to increase the awareness of a company’s product or services. Furthermore, manufacturers use adverts to control or maintain market prices, especially in the retail market.
Businesses use different platforms to showcase their brands, from large billboards on highways to social media platforms and even chan boards. Right now, you might be wondering: what are chan boards? They’re image boards/online forums that offer users a platform to share images and discuss topics. Examples include 8chan, 8kun, 4chan, and 2chan.
With only a few boundaries, rules, and of course, moderators to maintain sanity, it’s a platform of free speech or expression where people can create a thread in anonymity.
Middlemen are often sellers of products from different manufacturers, so advertising is key to driving quick sales of their different products. Unlike manufacturing companies with different strategies to drive sales, including sales and marketing teams, retailers most have only a few salespersons or none. Meaning, advertising has to do most of the selling and attracting of customers.
Whether you’re a retailer or manufacturer using large billboards or building signage to make your brand known, you’re likely an end-user as well. So, you’d probably agree how adverts have helped you make good purchase decisions or discover new options that are better and more cost-effective. Advertising also helps produce jobs since other businesses can emerge, knowing the products consumers need. What’s more, this can help break monopoly in markets.
Types of Advertising
In today’s modern market, the following are some types of adverts small and large businesses are taking advantage of to grow their profit and brand.
1. Outdoor Advertising
These are adverts used to reach an audience when they’re out in the open. Examples include billboard adverts, transit/sidewalk ads, digital signage, bus/train ads, subway ads, etc. Though this type of advertising is is common with large companies, the small local businesses also jump in by adopting small banners or other small exterior signage.
2. Social Media Advertising
Relatively affordable and sometimes free, social media advertising is one of the most popular means of reaching different demography. Facebook, Instagram, LinkedIn are excellent choices.
3. Mobile Advertising
This one is digital advertising served to audiences on their mobile devices, such as phones, tablets, etc. They include mobile display ads, broadcast messages, mobile videos game ads, and mobile app ads.
Vital Advertising Tips
1. Target an Audience
To maximize your advertising budget, you need to identify your target audience before designing your ad—research what catches their attention, including where you can find them. You also want to keep in mind that an authority or local law exists to guide advertising. So, your ad must not be misleading, false, contain illegal content, or even be unfair to competitors.
2. Track Your Success
Another important thing is knowing how to measure the success of an advertising campaign or effort. This way, you can make informed decisions, especially on how to improve on future ad campaigns.