Advertising is essential for informing and attracting potential customers. James F. Kelly, brand leader for PricewaterhouseCoopers, says that advertising is "a highly efficient way to say hello and offer a sense of ourselves to potential clients." Writing for Forbes, Kelly claims that advertising keeps a business's name in customers' minds, drives growth, builds the brand and has the potential to increase revenue.Know More
The U.S. Small Business Association lists several benefits of advertising, including enhancing a business's reputation, establishing a distinct brand identity, encouraging and reminding existing customers and attracting new customers. The U.S. Small Business Association considers advertising essential for small businesses because print, Internet and television ads give business owners more control over their image. Ads can boost sales of a high-quality, lesser-known product. However, the U.S. Small Business Association warns that advertising is not a quick fix for failing businesses, substandard products or low sales.
Writing for Businessweek, Steve McKee claims that businesses that incorporate advertising costs and strategies as an essential part of doing business are often more successful than businesses that use advertising as a last-ditch effort. McKee, a marketing consultant specialist, further asserts that businesses should not rely on good service or superior products to gain customers. He advocates structuring advertising expenses into profit-and-loss statements and considers 5 percent of revenue a baseline starting point for an advertising budget.Learn more about Advertising
Advertising influences people by appealing to their emotions. There are several techniques advertisers use to influence the buying decisions of buyers and encourage an emotional relationship between the buyer and the product.Full Answer >
Advertising directs the public’s attention to a particular product or service and is intended to prompt a person to take action. It is designed to be memorable and persuasive.Full Answer >
Referral Key is a type of social networking platform where individuals and businesses can receive business referrals. It is designed around building professional relationships. Referrals at Referral Key come from colleagues that know an individual who can use the services a person provides.Full Answer >
Advertising may be done as a way of introducing a product, ensuring customers continue buying a product, switching brand or switching back. Having a definite objective when determining an advertising strategy is key to achieving success, notes CBS News.Full Answer >