There are many untruths or fallacies around the relevance of advertising your business. Questions arise in the business world about advertising such as:
- Is advertising necessary?
- Advertising is too expensive
- Advertising is a waste of money
- Advertising cannot help my business; I have tried advertising before and it didn’t work.
- My good business reputation is advertising enough.
People often shy away from advertising not only due to the cost but also because they do not know how to achieve the expected results. These businesses do not understand the long term affects for advertising and are looking for a quick return on investment.
ONLY SOME BUSINESSES NEED TO ADVERTISE
If advertising is not working, it is due to poor advertising campaigns or poor execution of campaigns. With poor results, companies feel that advertising is not for them. These companies need to understand where they went wrong. Did they target the correct market? Did they send the correct message? Did they use the correct mediums?
Advertising works for each and every company or business only if it is executed properly. The simple rule of advertising: The correct target market with the correct message at the right time on the correct media channels.
OUR INDUSTRY REPUTATION IS ADVERTISING ENOUGH
In a competitive market, a company reputation is not enough. While your business may be sustainable with your current consumers, if you are looking for growth, advertising is imperative. Not all prospective consumers know about your company or products. In this case your industry reputation will not save you especially in a volatile economy with stronger competitors.
Companies are not always aware of the modern forms of advertising which are built around a clear calculation of ROI. Advertising is critical for any company’s sustainability and for future growth and to remain relevant.
ADVERTISING IS ONLY NEEDED WHEN BUSINESS IS SLOW
Advertising is a constant process which needs to revolutionize in line with new trends when necessary. When business is slow, advertising needs to be increased for brand/product awareness to help improve its market value and to remain relevant.
ADVERTISE THAT ARE NOT SELLING
This is simply not true. If a product is not selling, it is possibly not wanted or needed. If no one is using it, it simply will not sell. Businesses sometimes do not understand their customers’ needs and these unwanted products will remain on the shelves regardless of how much a business advertises them. Advertising doesn’t mean selling what you as a business want but what rather what customers want.
ADVERTISING CREATES NEEDS AND WANTS
Another fallacy. Advertising helps sell up to date products and products that are trending. It replaces old things with new and does not create needs. You cannot create a product, advertise it and hope it sells if you don’t understand consumers needs and wants. It needs to be relevant in order to sell.
EFFECTS OF ADVERTISING, LASTS FOR DECADES
Untrue: Minds are captured through the product itself. It’s the quality of the product which remains and advertising helps increase sales of the product and keeps the product top of mind. Advertising therefore needs to remain consistent and regular. Businesses cannot hope that their products will remain relevant by advertising every now and then. Constant presence is key.
HUMOUR IN ADS
There are times when humour in ads can hinder delivery of the correct message. However, sometimes humor can also create a positive attitude and can make an ad more memorable. It can especially help in today’s society with an influx of ads. The humorous ones are the ones that seem to stand out above the rest. It also breaks through the daily challenges that are faced in difficult economies/social settings.
CREATIVITY IS THE MOST IMPORTANT FACTOR
An ad needs to be creative to attract customers but it is not the only selling factor. The content of the ad, or the message being delivered must be equally important as well as the media selection. Creativity without relevance, will not thrive in an Advertising environment.
ADVERTISING IS TOO EXPENSIVE
While advertising does cost money, one has to consider the results in the form of increased sales, increased reputation in the industry, recognition of the product, brand awareness and increased market value. Advertising is more of an investment than an expense. Businesses cannot afford not to advertise especially in today’s competitive market.
TV IS DEAD
In today’s age of digital with ads on social media, they can be skipped by or ignored. Most people watch TV and consume TV content on multiple devices even at different times of the day. TV is here to stay, where ads cannot easily be skipped unless you change the channel. When watching TV there are no options to say skip ad as there are on social media. The idea of TV creates false boundaries to what’s possible with video advertising when you now consume video in so many new ways.
The correct advertising can be controlled and measured which allows businesses to see their return on investment. If their ROI is not what they were expecting, there are opportunities to change their communication/campaign strategies. It also allows businesses to reach a very specific target market. They are able to match personal messages to a select audience which gives them a greater connection with the audience which increases sales and results in a better ROI. Advertising also creates awareness of your brand. It’s a force that drives a great deal of conversion and trust building of your brand. The truth is advertising is a necessity.
“The man who stops advertising to save money is like the man who stops the clock to save time” Thomas Jefferson