Why Should You Advertise?
My store has been here forever… Everybody knows about us… We’re doing just fine without advertising… I have such a great location, I don’t need to advertise… Don’t kid yourself. It’s virtually impossible to build a successful businesses without advertising. There are many good reasons to advertise, including attracting new customers, increasing sales and business growth. Below we present 10 of the best (courtesy of the Radio Advertising Bureau).
1) You must advertise to reach new customers.
The market changes constantly. New families moving into the area mean new potential customers for you, or for your competition. Customer’s income levels are constantly changing, which means changes in lifestyles, needs and buying habits.
2) You must advertise continuously.
Shoppers don’t have the same store loyalty they once had. Automobiles give shoppers mobility and freedom. The National Retail Merchants Association says “mobility and non-loyalty are rampant. Stores must promote to get former customers to return and to attract new ones.”
3) You must advertise to influence shoppers throughout the buying cycle.
People often go from store to store comparing prices, quality and service. Advertising must reach them consistently through the entire decision-making process. For example, the average new car purchase is a 13-week cycle. Your name must be fresh in their ears and minds when they ultimately decide to buy.
4) You must advertise because it pays off over a long period.
Your advertising today is selling customers whose buying decision may be weeks away. Advertising gives you a long-term advantage over competitors who cut back or cancel advertising. A 5-year study of more than 3,000 companies found that advertisers who maintained or expanded advertising over the five years saw their sales increase an average of 100%.
5) You must advertise to generate more store traffic.
Continuous store traffic is the first step toward sales increases and expanding your base of shoppers. For every 100 items shoppers plan to buy, they make at least 30 unanticipated “in-store” purchases.
6) You must advertise to make more sales.
Advertising works! Businesses that succeed are almost always strong, steady advertisers. Look around – you’ll find the most aggressive and consistent advertisers are almost always the most successful.
7) You must advertise because there is always business to generate.
As long as you’re open for business, you’re got overhead to meet and new people to reach. Advertising will generate customers now, and in the future. Your doors are open. Even the slowest days produce some sales.
8) You must advertise to keep a healthy positive image.
In today’s competitive marketplace, rumors and bad news travel fast. Advertising corrects misleading gossip and punctures “overstated” bad news. Advertising that is vigorous and positive can bring shoppers into your store regardless of the economy.
9) You must advertise to maintain store morale.
When advertising and promotion budgets are suddenly cut or cancelled, salespeople may become alarmed or demoralized. Positive advertising boots morale. It gives your staff strong, positive, motivational support.
10) You must advertise because your competition is advertising.
There are only so many consumers in the market ready to buy at one time. You must advertise to keep your share of customers or you will lose them to the more aggressive competitors.