There are several reasons for that, but in general, you need not just to gain profit but make your business grow and retain customer loyalty.
1. Advertising can propagate awareness to your target market.
When you know that your presence is highly felt by your target market, then you feel optimistic that even if you’re
in such a poor economy, you can still get your desired profit and determine the real worth of your business to your customers. Most of all, it gives them the assurance that they will always be in the minds of their buyers whenever they have to make a purchase decision. It’s also for this reason that there are several businesses nowadays, both multinational and small time, which venture into online advertising, besides going for other traditional forms of media, like print, newspaper, and radio.
Nevertheless, you have the ultimate power to soften the blow or prepare yourself with the challenges. You just have to continuously educate yourself, strategize your position, and market your products or services.
2. You can get the idea if your product or service is working for your target market.
With advertising, you can get the pulse of your target market: do they like your product or service? Normally, the audience is very perceptive and sensitive. They tend to react either positively or negatively depending on what they see, hear, or feel. Their feedback, in turn, will reflect on the performance of your business. If they like your advertisement, then you can surely expect a dramatic increase in our profits. If they don’t, then you know that they have a lukewarm reception to your products or services.
3. Advertising can help establish your brand’s position in the market.
Brand positioning is very important. It helps you create an identity not just for your products or services, but also for your business as a whole. This is also the reason why even if your product is placed in between those of other companies, you will still stand out.
4. Advertising can be used to educate people.
Good advertisements are those that carry positive messages or provide some more information to their audience. The value of their product therefore increases. For example, an ad of Colgate may tell you that it has fluoride that can keep your teeth healthy and strong. The added element into the product gives it more value, and since this has been added to the advertisement, their target market will know the ultimate significance of purchasing Colgate: that it can help improve the condition of their teeth.