The Benefits of Advertising Your Business

 


The Benefits of Advertising Your Business

Advertising plays a major role in the business world. Why do companies spend millions of

Naira’s in advertising? What benefits are there in advertising? SD Motions share some of

advertising’s major advantages. see the benefits below




Introduction of New Products

When a company launches a new product, advertising helps to promote the product and create

awareness about it. It would take a lot of time and invariably a lot of money to get people's

attention to a new product without advertising it.


Increase in Sales

Advertising increases awareness of a product and leads to increase in sales. When sales

increase, the result is an increase in production. Increased production usually lowers the cost

per unit of production. So, in the long run, advertising boosts sales and lowers production costs.


Makes a Lasting Impression

A creative advert can have a lasting impression on people. Some people can still remember

some television advertising they saw as kids well into their adulthood. One way to create this

type of impression is through repeated advertising. Some marketing books prescribe advertising

a product about 20 times for it to be able to reach the potential customer's subconscious mind.

Advertising using a consistent medium and format will achieve this and make customers to

readily purchase your product.


Complements the Company's Brand

Advertising your company's products regularly makes it easily relatable to your customers.

Many Nigerians would easily identify a yellow shopping cart on a white background as a

Jumia.com logo. That is the kind of popularity advertising gives to a company's brand. That

constant reminder makes customers to subconsciously relate with your company on a more

personal level. Now, it won't be a hard choice if such customers are asked to pick a product or

service from you or from other unpopular brands.


Provides Options for Customers

By giving the selling point of each product, advertisers enable the public to make informed

choices based on individual preferences. For instance, FedEx had a slogan "When it Absolutely,

Positively has to be there Overnight" This slogan often used in there adverts was a constant

reminder of their ability to deliver fast, efficient service when it mattered. The customer can

now make a choice based on the urgency of the delivery. Another example is in the Fast Moving

Consumer Goods industry. A product manufacturer can place an advert that emphasizes the

quality and effectiveness of its product while another might focus on the affordability of its

products. The consumer is then allowed to make an informed choice.


Advertising Promotes Competition

Companies also advertise so as to remain competitive in the market. When the product of a

company saturates the market, it loses customers to newer companies. For the company to

regain its market share, advertising is necessary. Some companies however have a regular

advertising schedule, and advertise even when sales are just fine. Competitiveness also benefits

customers because it ensures that all the competing businesses up their game, providing better

customer service and product quality.

Employment Opportunities

Advertising is a multi-billion dollar industry employing thousands worldwide. It provides

employment for the market researchers, the designers and many other professionals.

Reduced Cost of Running the Media

Media houses are financed through adverts. They advertise products and services, charge for

their advertising service and as such remain in business. Can you imagine a world without the

television networks, radio stations, newspapers or the Internet? Then you can fully understand

the powerful role advertising plays in our lives.