Reasons Why You Should (And Shouldn’t) Advertise
Do you advertise your products and services?
I’m sure you do. If you don’t, you should not be in business.
I’m going to assume you advertise. What I want to do is find out the REASON why you advertise. Are you advertising for the right or wrong reasons? Let’s see where you belong.
Here are the reasons why people advertise.
1. To get results: sales, prospects, contacts etc.
With this, when you place an advert, be it on TV or in the papers, you are expecting instant response. Let’s assume you are in the seminar business and you put up a BIG seminar and then spend BIG money promoting it. Except you are an idiot, you will want people to respond to your advert. You will want them to pick up their phones to ask for more details. You will want them to send you emails signifying their interests. You will want them to
2. To create visibility and build a brand.
That is gaining a mind share so people always have you in mind so when they need a product like yours they come to you. Great for the long term.
If Samsung pays Chelsea millions of pounds so they can have their names on Chelsea’s shirts, Samsung is not expecting people that watch Chelsea to go right out to the shopping malls to buy Samsung electronics.
No.
They are staying put in your mind so that when you need electronics, you will think about them.
Recently in our sports betting business (NairaBET), we spent a million naira on carrier bags, jotters and pens carrying our name and logo. Were we expecting people that see it to go and join NairaBET right away?
No.
So why did we do it?
Because its good for gaining mind share for future sales and of course because…
If you use this method, you will go broke before seeing results.
3. Because everyone advertises so they have to.
Some people don’t even have an idea why they are advertising. Or should I say they have no advertising goal. They started their business and heard (or have always heard) that it is normal to advertise so they take out money to spend on the most enticing advertising medium.
Such people are not meant to be in business. They are better off getting a job.
4. To feel really cool with themselves
This is the silliest group of all.
They say things like…
“Did you see that ad on DSTV? That is our ad”
“Make sure you buy The Punch Newspaper tomorrow. You will see our nice ad on page 14.”
“Don’t you think our ad is really really cool?”
As a small business owner, go for number 1.
When you begin to make money, add the second.
Never do the other 2.
PS: Do you really think any sensible person should advertise because of reasons 3 and 4. If you know anyone like that please tell him that he is…
I’m sure you do. If you don’t, you should not be in business.
I’m going to assume you advertise. What I want to do is find out the REASON why you advertise. Are you advertising for the right or wrong reasons? Let’s see where you belong.
Here are the reasons why people advertise.
1. To get results: sales, prospects, contacts etc.
With this, when you place an advert, be it on TV or in the papers, you are expecting instant response. Let’s assume you are in the seminar business and you put up a BIG seminar and then spend BIG money promoting it. Except you are an idiot, you will want people to respond to your advert. You will want them to pick up their phones to ask for more details. You will want them to send you emails signifying their interests. You will want them to
Pay For The Seminar!
That is called direct response advertising.2. To create visibility and build a brand.
That is gaining a mind share so people always have you in mind so when they need a product like yours they come to you. Great for the long term.
If Samsung pays Chelsea millions of pounds so they can have their names on Chelsea’s shirts, Samsung is not expecting people that watch Chelsea to go right out to the shopping malls to buy Samsung electronics.
No.
They are staying put in your mind so that when you need electronics, you will think about them.
Recently in our sports betting business (NairaBET), we spent a million naira on carrier bags, jotters and pens carrying our name and logo. Were we expecting people that see it to go and join NairaBET right away?
No.
So why did we do it?
Because its good for gaining mind share for future sales and of course because…
We Could Afford It!
My problem with this type of advertising is not good if you have a small advertising budget. Imagine if your entire advertising budget is N20,000.00If you use this method, you will go broke before seeing results.
3. Because everyone advertises so they have to.
Some people don’t even have an idea why they are advertising. Or should I say they have no advertising goal. They started their business and heard (or have always heard) that it is normal to advertise so they take out money to spend on the most enticing advertising medium.
Such people are not meant to be in business. They are better off getting a job.
4. To feel really cool with themselves
This is the silliest group of all.
They say things like…
“Did you see that ad on DSTV? That is our ad”
“Make sure you buy The Punch Newspaper tomorrow. You will see our nice ad on page 14.”
“Don’t you think our ad is really really cool?”
Dumb! Dumb!! Dumb!!!
My Advice:As a small business owner, go for number 1.
When you begin to make money, add the second.
Never do the other 2.
PS: Do you really think any sensible person should advertise because of reasons 3 and 4. If you know anyone like that please tell him that he is…
Really Stupid!
Peace.
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