What is Advertising?
Advertising is the attempt to increase the buying behavior of customers with an effective selling message about products and/or services. In business, the goal of advertising is to attract new customers by defining the target audience and reaching out to them with a successful ad campaign.
The famous product or service in the world won’t make any income unless consumers know it exists.
- Online Ads: – Posting ads on websites is one the famous & attractive way to generate heavy traffic to get the word out about your business. For the internet in general you’ll have many options for ad placement. The best known service is Google AdWords.
- Social Media Marketing: – Today, most of the Social media platforms are an attractive marketing tool for businesses. The catch is that you’ll need to invest considerable time in building a presence, and making your content more engaging enough to be worth following. If you want to attract more consumers to your business, you can grant in the form of discounts, giveaways or “flash sales,” for your followers.
- Newspaper Ads: – Daily and weekly newspaper ads allow you to target specific geographic audience. You can purchase an ad in a section relevant to your business – for example, a car sale business ad in the automobile section – can also help you to reach your target clients.
- Radio & Television Advertising: – Radio and TV Advertising are form what is commonly referred to as the traditional media. As with most other media used for advertisement message delivery, television and radio offer definite advantages.
- Hangers and Flyers: – Canvassing the door to door, placing flyers in mailboxes or hanging ads on doorknobs is a better way to target a specific area and to make sure your prospective customers have seen your information.
- Event Sponsorship and Appearances: – Advertising your product or service via occasion sponsorship can take many forms. You would possibly receive an acknowledgement in the occasion program, have an on-web site vicinity wherein you could deliver out sample product, or your company emblem might appear on the occasion posters.
Marketing is the process of interesting potential consumers and clients why they should choose your product or service over those of your competitors, and is a form of effective communication. Marketing includes building the product or service concept, recognizing who is likely to purchase it, promoting it, and moving it through the proper selling channels.
Stages of Marketing
Every Company must go through multiple stages of marketing to make sure their products or services are ready for selling.
- Ideation: Marketing starts when you invent an idea for a product or service. Before initiate a product or services, you must decide what you are selling, how many alternatives are available, and how it will be packaged and presented to customers.
- Research and testing: Before you can take your idea public, you should execute marketing research and testing. Marketing teams usually test new product concepts with target groups and surveys to gauge consumer interest, filter product ideas, and determine what price to set. Researching your competitor’s products and services can help you set an optimal price and initiate ideas for positioning your brand in an existing market.
- Advertising: The information you gather in your research will help you clarify your marketing strategy and you can create a better advertising campaign. Campaigns can include different forms of media, events, direct advertising, paid partnerships, and more. Before beginning an advertising campaign, set standards that you can use to measure how effective that advertising campaign is.
- Selling: Decide wherein and the way you plan to sell to customers. Customer product agencies, as an example, sell to wholesalers who then sell to shops. In the commercial market, the purchasing process is longer and includes greater choice-makers. You may sell locally, nationally, or even the world over, and some corporations only promote their services or products online. Your distribution and sales channels impact who buys your products and services, when they buy them, and how they buy them.
Advertising vs Marketing
Why wasting tons of dollars on advertising without doing marketing?
I have observed a lot of small and medium scale businesses are spending a huge portion of their capital into advertising with the intention of growing the business without doing a proper marketing.
According to Philip Kotler, marketing is a management process of identifying, anticipating and satisfying of customer needs and wants profitably and socially responsibly. Simply, advertising is letting people know that you have something which can satisfied someone’s need gap.
Most of us used to advertise so we waste a lot of time, money and energy on advertising to everyone. That is not a good thing. If you are a marketer, businessman or an entrepreneur you should do the marketing before you do the advertising. Your product or service is not for everyone. Therefore, you should find the correct market, let them know that you have a better product or service which can cater their needs and grow in your market. But still yes there is an advertising needed, but it is just a tiny little part of marketing.
Marketing is a mix of elements
Simply for a product the definition of the marketing mix is making the product available in the right place, at the right price, at the right time. In order to do so the basic understanding of the marketing mix is very important. This is the basic theory and the model someone must follow in order to have a holistic approach of marketing.
- Product / Service – What is the product or service that you develop? How can you develop that?
- Price / Fees – At what price are you going to sell it? What is the best price and how are you going to determine it?
- Place / Access – How are you going to make the it available at the right place for your target customer? What are the delivery and distribution options available for you? E.g. online store, in-store, etc.
- Promotion – This is how are you going to reach your target audience in the best way in order to make an effective sale. This includes Advertising, Direct Selling, Sales promotions and Public Relations.
- Physical evidence – What are you going to use in order to delight your customer with your service. E.g. trained staff, impressive buildings, attractive website.
- People – This is all about people that you are going to use to deliver the service. Who are they specifically and what are their required skills?
- Processes – What are the necessary steps – functions, processes, activities or tasks to be carried out in order to deliver the service to a consumer.
Having said that, the advertising is only a one element comes under promotions which will be mainly divided as above the line advertising (ATL) and below the line advertising (BTL). This is literally how and which communication channels are being utilized based on the characteristics of the target audience, target market.
Sales vs Marketing
All these time if you had a dilemma whether the marketing is actually the sales, I believe now you have the answer for it. Just like Advertising, also Sales comes under the promotional mix. Sales is a process which takes place once you know that there is a prospect for your product in the market. This process includes prospecting, preparation, approach, presentation, handling objections, closing and follow-up.
New trends in marketing
- Conversations – This can be either AI chatbot or a person who would be chatting with the potential customer through a live chat.
- Videos – Making the product or service more familiar to the target audience through more of videos
- Live events – Still the customers are willing to engage live events while they spend more time online. Live events such as a small engagement with potential customers at a sponsored occasion.
- Collaborations / Influencer marketing – Collaborating with people who can bring your brand message to the target audience. For instance, collaborating with YouTube channels who can create attractive or viral content on your product or service.
- Celebrity endorsements – Having a suitable celebrity as a spoke person of your brand can bring the message of your brand into the general public pretty much easily. It brings more credibility to your brand.
- Media buying (online) – There are plenty of website which facilitates you to advertise. You can use similar web or semrush or even google keyword planner to do a basic competitor analysis of your keywords to find out all the places online that have your customers.
- Search Engine Optimization – This is pretty much important for ecommerce businesses as well as B2B businesses. Amidst of huge competition for your website to be appear on top locations of the search results you have to target right set of keywords.
- Email marketing – This is a very much niche approach to reach the targeted customers with an attractive email which can gain their attention. Call to action and making sure the email won’t go to the spam folder, or the customer won’t unsubscribe the email is very important.
- Paid media advertising – Facebook ads, google ads, LinkedIn ads where you can reach the exactly targeted customer segments and facilitates you to measure the result of what you spend for, with analytics.
- Creativity – Whatever you do either online or offline in order to market your product or service you have to be more and more creative. Call to action will not work in the modern era if the message is not creative.
I will be bringing you more content on marketing for you to grow your business in future articles.
Enjoy your business!