Advertising 101

Advertising. My first business taught me the most important fact about advertising; you will never succeed without continuous advertising. The success of ChamberMaid proved that true. I have seen many businesses fail because they do not see the need for advertising. Businesses grow, or die, in cycles.

A retail outlet may have a lot of walk in traffic, but that does not mean it will sustain the same level traffic on a continuous basis. A business possesses a certain level of synergy when it starts. Customers walk in out of curiosity, interest, or just to browse. This large segment of these customers will not become long-term, nor is it a good representation of your clientele. Your business may boom for two years, but trends change, the novelty wears off, and traffic dwindles.

There is a catch 22 involved. A business that advertises continuously, sales will sustain continual growth through continual advertising. A company that does not advertise learns too quickly, by the time they need to advertise their income has dropped low enough they cannot afford an effective advertising campaign.

PLUS

The advertising cycle is six months. An advertising campaign must run for six months to start drawing new customers into the store. The advertising placed now will not produce results for half a year. This is why it is so important that each industry understands the types of advertising that appeals to the consumers needed for them to sustain growth.

AND

Advertising is a learning curve. You need an affordable, high circulation type of advertising to build NAME RECOGNITION for the business. This should contain a graphic version of the company’s name, and a recognizable slogan or graphic. These should appear in every ad.

These ads keep the name in the customer’s subconscious. Then, when it is time to insert an expensive ad in the newspaper then people will pay attention. But, if you do not advertise, then putting one big ad in the newspaper, even offering 50% off, you will not garner the response need to meet the necessary goals.

In short, when a business needs customers it is NOT the time to start advertising, by then it is about 6 - 8 months too late.

In advertising, a owner needs to learn what works for them.

The high-end boutique mentioned earlier as an example will probably not do well by advertising in the local paper. They could insert a $2000 ad on the society page and receive nothing but name recognition - no sales. That same owner could support the local theater/symphony, paying $3000 for a season, and not only receive name recognition, but increase sales.

Owners believe one myth new business about advertising that cripples them from day one. An ad must produce sales. This is not true. I cringe when I hear business owners say, ‘I inserted an ad, but it didn’t work.’ Remember, a person must see an ad a minimum of three times before they will stop to read it, and a few more times before their interest is peaked enough to read it. One ad will never work.

So, why is all this important to ‘checking out the competition?’ Pay attention to the ads: billboards, posters, newspapers, community newsletters and papers, magazines, transit ads, radio, cable, park benches, and ‘sponsored events.’ Track the competitions advertising, and estimated their advertising budget. This will reveal the advertising campaign’s size, cost, and legwork, need to maintain a fair share of the market.

Advertising does not always cost money. It is possible to call the people in charge of events. Ask if to exchange work for promotion. There are many places and organizations eager to accept gifts, door prize, etc., in return they offer a promotional opportunity.

Telesales are a good way to do business. While the consumer fears telemarketers, business owners and consumers are willing to listen to a business owner who makes their own calls. This does not mean you cannot take advantage of the wealth of sales expertise on the web to build scripts and increase the success ratio.

One overlooked means of advertising is the internet or e-mail.

Having your customers sign a card with their e-mail address, builds a data bank which enables you to keep in touch with them when it is time to have their hair done, check up on their file, etc.

Park benches, billboards, door-to-door fliers, brochures, newspapers, grocery store receipts, sponsoring events, local tourist information magazines, sporting events,
Purposes of Advertising

Direct response: Demands an immediate response from consumer
Branding: This builds an image, and name recognition for the company

Consumer Education: Explain to the customer why they need a product or service

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