The following are the 13 Most Important Benefits Of Advertising Your Small Business:
- To introduce new product to the market
- Helps to increase market share
- Adverts Improve Sales
- Helps to fight competition
- To educate consumers
- Build relationships
- Better quality products
- To make your business more popular
- Product improvement
- Brand awareness
- Boost business image
- Enhances business profile
- Word of mouth marketing
Have you ever stopped to think how it feels for a company to import or manufacture products, keep them in the shop and nobody is coming to buy? Without customers, you will only remain in business for a short while. This is where advertisement comes in.
To help your business keep your existing customers and get new ones, below here are some of the reasons why you need to advertise your business:
Advertising Helps To Introduce New Products
One of the advantages of advertising your small business is that it should help you to educate potential customers when launching new products into the market.
Furthermore, if you do not advertise your small business many potential customers will not know that your business and products exist in the first place.
If you do not advertise your small business, you are like a man who lights up a candle and hide it under a table. Only a few people will see with the light. You will miss out.
Therefore, you need to move around, make noise here and there so that people will get to know of your business of your new offerings.
Ads Increase Your Share of the Market
Another advantage of advertising your business is that it should help you to increase your share of the market.
For example, you are not likely to be the only seller of your product in your market. You are only serving a few customers in the market. You have competitors who are also selling in that market. Every seller wants to maintain his share of the available customers.
Suppose for now that you are serving 50 customers in the market. And that after advertising your business for a while you now have additional 50 new customers.
Thus, you have increased your share of the market by moving from 50 to 100 new customers. That is what ads can do for you.
Therefore, you should advertise more to boost your sales and profits.
Adverts Improve Sales
Yet another advantage of advertising your small business is you can use advertisements to improve your sales. You can advertise your business products, using different strategies and methods.
For example, you can advertise your products on your website, face book, linkedIn, Pinterest, Instagram and lots more. You need to register your presence on the various social media platforms.
Consequently, when you advertise your small business, people who hear your adverts will tell their family and friends. Family and friends will, in turn, tell their associates and the circle continues on and on.
Therefore, you should advertise your business so that you can make more sales, keep your existing customers and attract new ones.
Ads Help To Fight Competition
Advertising your small business should help you to fight competition. Business is war and the common enemy is competition. Therefore, there will always be competition, no matter what.
Advertising your business should help you to fight competition in the following ways:
- Bring out the best in you and your business
- Identify newer and better ways of fighting competition.
- Help you to under the market better
- Locate your customers
- Find out the changes in their tastes, choices and preferences
- Meet and overtake your competitors.
- It should help to make your business stand out from the crowd.
Therefore, you should not seat in the comfort of your shop and think you are fighting competition. Advertising your business/products should be a continuous process.
Advertisements Educate Consumers
Another advantage of advertising your small business is that it should help you to educate your customers on how to use your products.
For example, you need to advertise to convince a villager that the particular rat killer you are selling is the best for him. There might well be other brands of rat killers in the market.
If you do not educate customers on the use of your product, they could misuse the product with harmful results. Consequently, this could make it difficult for you to sell more rat killers to other people. And you will lose out.
Therefore, you should regularly advertise your small business to educate consumers and inform them of the existence of your business.
Advertising Improves Relationships
Yet another advantage of advertising your small business is that adverts helps to create a lasting business relationship between you and your customers. Furthermore, it helps to build trust and confidence among your customers. Remember that business is built on trust and connections.
Ads Brings About Better Quality Products
By advertising your small business, you will receive feedback that might identify areas of weakness in your business.
For instance, customers will buy your products. If they are not satisfied, they will complain to you. You should then find out what went wrong. And go back to the drawing board to correct the error and ensure that it does not occur again in future.
So in a way, advertisements bring competition and competition brings about improved quality of products. At the end of the day, everyone benefit in terms of product quality and value for money.
Ads Make Your Business More Popular
Another advantage of advertising your small business is that ads should help to make your business more popular. Those who have never known your business before will get to know it. This should lead to more customer engagements and conversations.
For example, I know a man who started the business of selling generating sets about 12 years ago. The owner of the business runs ads from January to December every year advertising even already popular products.
The company has now grown into a group of companies with interests in estate development, entertainment, hotel and tourism and so many other businesses. Besides, hi business name has become a household word. Everybody hears it. Everybody knows it. It is popular.
Ads Helps To Show Product Improvements
Advertising your small business should make the public be aware of any improvements you might have made on any of your existing products.
You can even advertise upfront for products that you hope to launch in the market.
Furthermore, letting people know of the improvements you have or intend to make on your products should help to your boost sales. Needless to say that the more sales you make, the more profits you should bring into your coffers.
Ads Helps To Improve Brand Awareness
Advertisement should help to keep your brands in the minds of customers. Even if they do not buy immediate, someday somehow they will buy, if your products appeals to them.
Although it is often difficult at the beginning to market a new brand, ads will help you to bring more awareness to potential customers. In addition, it should help you to retain your existing customers.
Therefore, you should not undermine the power of advertisements as a powerful tool to boost sales and move your business forward.
Advertising: Helps To promote Your Business Image
Advertising your small business could help to bring back the image of your company, its image and products.
In other words, advertising will help you to update your offerings. Furthermore, it could help to erase any negative impressions some customers might have had about doing business with you.
In addition, ads should help you to recover the lost sheep; that is, customers who have left you for one reason or another. Look for them.
Ads Can Boost Your Profile
For example, if you are a consultant and want to be known for your expertise, advertisement can help to boost your professional profile.
Advertisement can help to set you apart as an authority in your areas of specialization. Thus, you will get more customers/clients. It should help not only to retain but to upgrade your reputation.
Word of Mouth Marketing
Word of mouth marketing is an inexpensive but effective way to market your products. The beauty of WOM marketing is that it is free. Satisfied customers will spread the good news about your business. They will talk the talk for you. After all, talk is free.
In conclusion, therefore, you should not think that your business is too small and so there is no need to advertise your small business.
Do not belong to the small business owners who think that money spent on adverts is money wasted.
Advertisements drive sales. Try it and you will be glad you did.
By Samuel Ijenhi