The importance of advertising your business
Whether you are a small business owner or in a management level position with a major corporation, you are probably well aware of the fact that an advertising or marketing campaign is a significant yet necessary expense. When you are a small business owner, the survival of your business depends on your ability to manage your own advertising and marketing campaign. So you will need to educate yourself about this, especially is if you are just starting a new business.
In decades gone by, advertising fell into three distinct categories – print, radio, and television. It’s a different story today. With the advent of the internet, advertising online is now inescapable no matter what sites you are visiting while using your computer. There is one other venue that has been in use as long as the three primary venues mentioned above, if not longer. We’re referring to outdoor advertising, which is classified as either mobile or stationary in design. The most important consideration with advertising is establishing and maintaining a budget to accommodate this on a consistent basis.
With the onset of the industrial revolution and the concept of mass production, modern advertising techniques began being developed in the late 19th and early 20th centuries. The bottom line is that businesses and corporations advertise primarily to sell their products or services, although advertising is also used for other activities and events. What is important here, is how you advertise and what venues you choose to get your message across to the consumer.
The main rule of thumb to know is that you need to employ multiple forms of advertising in order to benefit your business more quickly. In other words, never put all of your eggs in one basket. Regardless of the venues you choose, remember that you need to target the right demographics. For instance, a company that rents and sells video games is going to target a completely different audience, or demographics, than an assisted living facility. What you want to remember is just using one venue will not be as cost-effective as you might think.
Electronic media (i.e. radio and television) advertising won’t reach all the consumers you are trying to get your message to. They target specific time periods during the day in order to attract their listening and viewing audiences, therefore there are gaps in your advertising.
Print media typically involves brochures, bulletins or flyers, magazines, and/or newspapers. Brochures, bulletins, and flyers typically target specific activities, businesses, or events and are normally distributed as hand-outs. Although magazine and newspaper advertising is more common, not everyone reads them.
If you are going to succeed, and you want your business to benefit quicker, use a three-way mix of:
Radio and/or television ads (budget considerations)
Print media such as the local newspaper
Outdoor advertising – specifically yard signs, banners, and car magnets