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Advertising 101 Advertising: The Basics (from the Small Business Administration)

Think you have a great product? Unfortunately, no one's going to know about it unless you advertise. Advertising, if done correctly, can do wonders for your product sales, and you know what that means: more revenue and more success for your business. But be warned: it is not a panacea.

Below you will find a list of what advertising can and can't do for your business, along with the steps you can take to start using advertising to your business's advantage.

What Advertising Can Do For Your Business

-Remind customers and inform prospective customers about the benefits of your product or service -Establish and maintain your distinct identity -Enhance your reputation -Encourage existing customers to buy more of your product/service -Attract new customers and replace lost ones -Slowly build sales to boost your bottom line -Promote your business to customers, investors, and others

What Advertising Cannot Do For Your Business -Create an instant customer base -Cause an immediate, sharp increase in sales -Solve cash flow or profit problems -Substitute for poor or indifferent customer service -Sell useless or unwanted products or services

Two Important Virtues of Advertising -You have complete control. Unlike public-relations efforts, you determine exactly where, when and how often your message will appear, how it will look and what it will say. You can target your audience more readily and aim at very specific geographic areas. -You can be consistent. Presenting your company's image and sales message repeatedly to build awareness and trust. A distinctive identity will eventually become clearly associated with your company. Customers will recognize your brand and product quickly and easily if you're consistent in presentation.

Read more from the SBA.

 

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