Advertising is a form of communication that is meant to be encouraged and persuade the target audience to take some action. Now days the businessmen try every trick that can be think of to motivate the target customers to take action.
One of the most important ways through which a business can be successful is advertising. An effective advertise does four things to the audience: gets attention, holds interest, arises desire and makes to take action of buying. There are many different ways of advertising but there are very few companies, if any, can survive without some form of advertising.
Let’s start by an outstanding advertising campaign. Two decades ago, GEICO was just a little-known auto-insurance industry. But with the passage of time, thanks in large part to an industry-changing, big-budget advertising program, featuring an enduring tagline and a likeable but unlikely spokes-lizard, GEICO has muscled its way to the number-two position in its ultra-competitive industry.
GEICO has come from bit player to behemoth through good advertising. Founded in 1936, GEICO initially targeted a select customer group of government employees and non-commissioned military officers with exceptional driving records. Unlike its competitors, GEICO had no agents.
For nearly 60 years, GEICOS’s marketing relied almost entirely on direct mail and telephone advertising. In 1994, GEICO decided to expand its marketing and entered the world of mass media, a shift that would dramatically change the face of insurance advertising. GEICO started slowly, spending a paltry $10 million to launch its first national TV, radio, print ads.
Then, in 1966, billionaire investor Warren Buffett bought the company and famously told the marketing group “money is no object” when it comes to growing the business, so “speed up.” Over the next 10 years, GEICO’s ad spreading jumped 50-fold to more than $500 million a year.
What really set GEICOS’s advertising apart was the inspired way the company chose to bring its value proposition to life.
GEICO continues to invest heavily in advertising and content marketing, outspending every other insurance company in measured media by a nearly two-to-one margin. Its annual advertising budget, now nearly $1 billion, makes GEICO the fifth-most-advertised U.S. megabrand.
However, the brand’s creative and relentless advertising messaging, plus its heavy investment, have paid big dividends. The once little-known GEICO brand now enjoys well over 90 percent awareness among insurance shoppers. And after years of double-digit market share gains, GEICO recently passed Allstate to move into second place in the ultra-competitive U.S. car-insurance market.
In present days, Advertising is one of the most important things present in or society today. Advertising helps to keep the consumers informed about whatever new products or services are available in the market at their disposal. It helps to spread awareness about products or services that are of some use to consumer and potential buyers. Businesses use advertising to accomplish varied goals, and companies place those ads in diverse media.
HOW EFFECTIVE ADVERTISING IS CONDUCTED?
Effective advertising can bring a great success in your business. Below are five reasons why you must advertise for a successful business:
1. Advertisement as only medium you control: If you want your message to hit on the day a product launches or event is about to happen, this is the only vehicle you can control completely
2. Advertising allows you to target the ideal customers: When you match a very personal message to a very select audience you get far greater connection.
3. Advertisement creates responsiveness for the content: The force that drives a great deal of conversion and trust building these days is educational content, e-books, seminars and blog posts-advertising is a great way to help get that content found and consumed once you’ve gone to the effort to produce it.
4. Advertising adds reliability to your message: The perception that you can afford advertising is often enough to sell and resell prospects and customers alike and makes it easier to get attention for your entire message.
5. Advertising amplifies everything else you’re doing: When you are using advertising to create awareness for your content you automatically create more awareness for everything you are doing. Journalists find companies that advertise, referral sources remember companies that advertise, people fan and follow and friend from ads and employees can point to well-placed ads as a source of pride in the place they work
THE MEDIUM FOR ADVERTISING
Advertising can be achieved using various media such as television, newspapers, radio, banners, pamphlets, websites etc. Each advertising media has its own pros and cons and one must evaluate all of them before choosing a particular media. The main thing that needs to be considered is that the advertising medium chosen must be able to catch a large number of customers.
When someone starts a business or is running a business, he needs to make people aware of the fact. Promotion is really important for any type of business to let others know about the business. Any type of business, whether it is run online or offline requires customers so that it can experience a good business turnaround. However, the only means of reaching customers is advertising. This is why advertising is important for a business. Once a business advertises about its products and services, it is able to run in a competitive environment. Advertising is important for the business on the whole as it lets the business gain more customers. Advertising helps a business to earn profits by enabling more people to know about the products and services and thus resulting in more sales. Today, the advertising industry has become a huge industry because of the large number of products and services being offered. As a result, the competition has also increased, requiring every businessman to promote his products and services in the best possible manner. ■