The Importance of Advertising to Modern Businesses

Advertising is a great tool that when it is rightly deployed can help businesses to easily reach more customers and grow sales within a short period of time. According to Steuart Britt “doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does”. For a business to continue existing, it needs steady patronage which should also result in optimum revenue.

There are several means of advertising a firm can use to create awareness for its product/service and attract customers. Depending on what suites a business, adverts can be done in prints, handbills, commercials, billboards and even branding of cars but the internet has provided a larger platform where businesses can access customers that are thousand miles away.

An advert that can communicate and convince a potential customer at first contact is always the best to deploy when a company is introducing a new product/service or when it sets high sales target. Advertising can assist modern businesses in the following ways:

Winning New Customers

An advert that educates potential customers in a convincing manner will easily win new ones as those with similar need will be prompted to try out the proposed value.

Awareness

When a company advertises, it is creating an awareness which may cover a wider range of population. Severally awareness creation has helped businesses to win customers and also earn referrals. A good example is when one experiences aches; there is always a brand of popular analgesic that people around will always prescribe to be taken.

Customer Retention

When your existing customers who are satisfied with your product/service are reminded continuously of your presence, it improves the level of confidence they have on the brand and thus improving customers’ loyalty.

Competitiveness

When a company’s advert totally convinces the potential customers that its product/service is of better quality than its substitutes. It helps the company to compete favourably.

 

This article was written by Sule Muhammed Lawwal

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