- by Josh Harris
Advertising is a preferred method for introducing people to products and services. Advertising cultivates new prospects. Advertising builds awareness. Before exposure to advertising only one in five buyers is aware of a company and/or its products. Six out of ten suppliers claim that maintaining or increasing awareness is a marketing objective. Buyers are always more aware of the most aggressively marketed products. A significant number of sales are lost because the consumer simply did not have enough knowledge of the product. As awareness increases, buyers are more likely to consider purchasing that specific product.
End-users believe that buying a familiar brand usually guarantees approval (81% according to Simmons Research) while buying unfamiliar brands is risky (82% according to Simmons Research). Brand preference is directly impacted by investing in advertising. Advertising is a proven means of raising a brand's reputation and preference level among end-users.
End-users prefer to learn more about products through advertising. Advertising becomes the knowledgeable salesperson missing from many stores today. Advertising turns wants into needs. Advertising helps educate, and it helps differentiate benefits and features.
In a world with fewer knowledgeable salespersons, advertising reduces direct selling costs. Knowledgeable end-users often know exactly what they want to buy, reducing the time needed to sell them. It costs about one-fifth as much to retain and sell to an existing end-users as it does to acquire and sell to a new one. Advertising is a tool for selling existing end-users more and reducing the cost of sales.
One study found that nine out of ten buyers continue to look at a vendor's ads after making a purchase. Close to 90% of buyers (88%) cite one of the top reasons to read ads from vendors they have purchased from in the past is to learn about new models and upgrades. Advertising reassures buyers that they have made a good decision. After-purchase assessment is important to 43% of all buyers surveyed. And, 92% of buyers continue to read ads for a product after a purchase is made, increasing the odds that they will be happy with their purchase and buy from you again.
Advertising builds traffic, provides incentives for acting now and links to websites, coupons and toll-free numbers, which all can directly help close the sale. Point of sale ads, and as-seen-in-ad signage are used as sales tools by advertisers to speed the closing process. Advertising reinforces good decisions and creates the best prospects for future sales.
Seven out of ten salespeople surveyed said they use ad reprints as a selling tool.
End-users believe advertising saves them time and money in comparison shopping. Therefore, the end-users who has been exposed to advertising is closer to making an informed decision, saving you time and money as well.
Advertising can, but rarely, produce significant instantaneous results. It's an investment in your company's future growth. It creates a "mind share," putting your business in a better position to capture those customers ready to buy when you are top of mind
Millions of manufacturers, retailers, service businesses, and individuals advertise every day, over and over again, because advertising works.