1) Advertising is Key! Truth is…you can’t afford not to advertise. Statistically speaking, research shows…companies that maintain their advertising throughout a recession are poised to reap benefits over their competitors, who do not advertise, especially once the market begins to recover. Therefore, slightly increasing your advertising in order to get the edge over your competition is a good idea. However, if you’re not in a position to do that, try to maintain your normal spending levels if at all possible. First and foremost… advertising is the promotion of a company’s products or services carried out essentially to drive sales of the products or services, but also, to build a brand identity and communicate any changes or new products or services to the customer base. If you want to grow your company’s profitability and improve your bottom line…you must ADVERTISE!
2) Choose your advertising method wisely. Here are some options.
a) Print advertising: newspapers, magazines, brochures, fliers & direct mail
b) Outdoor advertising: billboards, kiosks, trade shows and events
c) Broadcast advertising: Television, Radio and Internet
d) Covert advertising or in layman’s terms “product placement”: now this is the advertising you see in motion pictures-or with sitcoms on TV…this is a unique form of advertising that companies do to showcase their product or service.
e) Public Service advertising: is traditionally reserved for socially relevant messaging, political integrity, poverty, religious or civic events, nonprofit 501 (c) (3) organizations.
f) Celebrity advertising: of course this is when a famous person is asked to be a spokesperson for your product or service. Today there are growing companies that bank on the power and influence of celebrity advertising. In most cases, the celebrity lends instant credibility and influences the target customer base positive manner thereby increasing the company’s profitability.
3) The difference between having an advertising plan and having an advertising strategy is critical. It’s like this…if you want to get from point A to point B that’s your plan. Your strategy is how you’re going to do it. For example if my plan is to drive to Savannah then I have to formulate a strategy on how I’m going to get there…either by car, plane or train etc. Once I determine the how, then I must map out my route…that’s my strategy. Your advertising plan consists of what your goal is. For instance, let’s say your plan is to increase sales by 30% and promote your special July 4th sale including half off of everything in stock. Well the advertising strategy must include the execution of the plan. If you want to inform your prospective customers about your sale…you’ve got to figure out “the how factor”…how are you going to get that message across? What vehicle will you use? Then you must strategize an effective campaign relaying the pertinent information to the target audience utilizing a creative advertisement to effectively communicate your message. You may decide to combine flyers, TV, radio & internet along with a celebrity endorsement. So the advertising plan and advertising strategy are very different but function in partnership…because one doesn’t work effectively without the other.
4) The one key word to use in advertising The best word in advertising is…”FREE” anything free is going to instantly grab attention and make your customer curious to find out what is being offered for free! However, if you’re limited on what you can offer for free…there are other advertising techniques you can use…i.e., special offers are nothing more than good old fashioned “bribery” because you hook the customer with the BUY ONE GET ONE OFFER or Buy TWO GET ONE HALF OFF! This technique is very effective because you have given the customer an incentive to spend more!
5) The most important element in effective advertising The industry terminology is called “THE CALL-TO-ACTION.” But I like to call it, the WOW Factor or the “Special Sauce.” In today’s society we are spoiled. Most of us want everything now, at our convenience and deeply discounted. Consumers today don’t want to spend too much time or energy looking for a great deal. Most importantly we look for a quality product or service at a great price. Thus, the key for any company or business…is to offer their target audience something unique that’s going to “knock their socks off!” However, you must offer something that will influence the target customer to take action right away! The WOW Factor equals activation! To make sure you get that activation; you must give it the KISS test; KEEP-IT-SWEET & SIMPLE!