The three traditional goals of advertising are to inform, persuade, and remind. However, you should add one more goal to that list, especially if you run a small or medium-sized business. That goal is to break even on the cost of running your ad. If the ad makes money immediately, that's a bonus.
Why just break even?
Your strategy should be to create an ongoing relationship, not just a one-time transaction. You want to build a base -- a growing list of customers who come back to buy over and over again. Long-term growth and stability are the keys, not just one-time, short-term gains.
"The man who stops advertising to save money is like the man who stops the clock to save time." - Henry Ford
Advertising your business is important. Advertising your business on a consistent basis is even more important. Your business has to get noticed. It needs traffic, and that traffic needs to buy.
Instead of thinking about advertising your business as an expense, think about it as an investment. It's an investment with the goal of breaking even quickly while generating ROI for years to come.
Here are eight reasons you need to advertise consistently with a purpose and goal in mind.
- Get Noticed -- At any given time and in any market, only 2 to 4% of consumers are ready to buy what you sell. It's nearly impossible to predict when this group is going to actually make the purchase. They'll buy from the company that comes to the top of their mind when they're ready. The company that's most consistent in being seen and getting noticed will win the business most of the time.
- Remind Them -- People tend to forget quickly. Busy lives and long to-do lists can make anyone forget about your business. Just because you sent one postcard doesn't mean a prospect will remember your business when it's time to buy. In the advertising race, the tortoise beats the hare.
- Your Competition -- Your competitors won't quit advertising anytime soon. You shouldn't either.
- Shifting Quicksand -- Your market is constantly changing. You have to be nimble and adjust with it. Change up your ad copy and design. Test it, measure it, and tweak your ads until you achieve your desired return on investment.
- Momentum -- Advertising consistently not only informs your audience that you mean business but also serves notice to your competitors that you're in it for the long haul. Advertising boosts the morale of your own staff as well, signaling the vitality of your brand.
- Current Customers -- You know your competitors are nipping at your heels, trying to steal away your customers. Don't take your current customers for granted in your ad campaigns. Remind them on a regular basis the unique value you bring to the table and deliver for them. Don't assume they know already.
- Past Customers -- One of the fastest ways to boost sales is to reactivate past clients. Most customers leave a business because they feel unwanted and neglected. Tell them you're sorry and that you want them back. Give them an incentive to come back again. Many will come back. This time, don't neglect them. Communicate regularly and tell them that you appreciate their business. Advertising is not just for boosting sales; it also works for retaining customers. It's much cheaper to retain a customer than to find a new one. Advertising to current and past customers is an investment that makes lots of cents!
- Competitive Advantage -- Nothing helps you maintain a lead over your competitors like consistent advertising. Whether you're there now or you'll get there soon, once you have the lead, keep the foot on the pedal, so the competition has little chance of catching up.
You must have both strategic and monetary goals in mind when advertising your business. When done with a purpose and vision, your ad campaigns will produce real ROI and real customers who will pay you back for years to come. To start and build momentum, advertise consistently. You'll end up creating your own economy.