Advertising plays an important role in branding
Branding is the one thing that differentiates one company from a competitor. The better the branding, the more exclusive company becomes, making it stronger in competing versus others. A strong brand puts a company ahead many others.
The common problem that companies usually face is simply time. It can take years to build a brand because to reach certain branding milestones such as getting people to remember your logo, or getting featured in top global magazines and other many of these little elements which add up and eventually create a powerful brand - take time to create - which mostly is used for company's development.
There is a way to brand up a business quickly locally and globally, and this is done through advertising. Advertising is like a power boost to go from point A to point B, efficiently and effectively.
Benefits of advertising
- Provides access to premium channels which boosts brand’s visibility
- Builds a strong image for a company fast
- Helps to get audience attention fast
- Can generate immediate returns
- Saves time, with a powerful advertising strategy and campaign, company can achieve more in 1 month than in 10 years
Why companies don’t like advertising
- Executives don’t like the idea of paying for visibility as they think it shows a negative side of a company for its target audience
- Executives don’t like the idea of paying because its expensive
Modern customer acquisition logic
In the current market, people tend to buy products and services which are found conveniently and simply look good enough. A potential client may Google a certain product or service, the items which client sees on Google’s first page are most likely provided by the leading companies as Google’s first page is always dominated by the industry leaders. Consider that most of Google search users only check first page of Google. That being said, a regular company has no chance of getting any visibility without placing an ad on the first page. Considering that the competition is massive and its global, the price for ad unit goes up because of demand, which makes advertising expensive.
Depending on the branding goals and target audience, advertising types vary from online sites, to magazines to outdoor advertising such as digital ads on the buildings and digital ads in the airports.
For instance, a consumer in the airport waiting for 3 hour transfer flight is most likely be willing to spend, so placing an ad in an airport can result in immediate sales if your business is online or your product is in the airport stores.
The modern customer acquisition logic is that people end up choosing products and services which they find fast. Speed is the answer to growth and only advertising can provide such a boost for business.
According to Stankevicius analytics when it comes to fast customer decision making, there is almost no correlation between paid advertising and organic promotions. The customer will choose product or service based on the current need which could be filled as fast as possible selecting suppliers and vendors which they approach first.
Consider that if a company has a promotion running online or offline, a regular consumer does not know whether its paid or not, the only thing people see is that there is a provider, it's big because it’s promoted, and it must be good because its promoted.