September 10, 2012 by entrepreneurapproach
Have you ever actually thought about what advertising is?
Isn’t it that thing that is called marketing as well?
Well I’m afraid its not. Its definition is slightly different to that of marketings, however it does fall under that heading.
Advertising needs to be understood. Without a good understanding of what it actually is, how to apply it and where to apply it, your best thought out advertising campaign can be nothing but a sham.
The most viewed and most effective marketing strategy for mass media coverage is by far advertising. It has got so many avenues of exposure and seems to be the way that the big companies like coca cola and similar organizations are spending their big bucks.
I find it an interesting term. Advertising is to most people, marketing. But is it really?
Advertising is only one of many different titles that come under the heading of marketing.
The model below shows the IMC (integrated marketing communications) Mix Model, which displays the different avenues of marketing.
So if advertising isn’t marketing, and marketing isn’t advertising, then what is it?
Advertising can be defined as: A paid form of non-personal communication by an identified sponsor.
What does this mean?
Expanded and put a little more simpler, Advertising is the method of mass marketing a product in a way that isn’t personal to an individual, but tries to capture a target market as a whole.
Advertising and marketing intersect but are not the same. Marketing is the term for all the activities that go into the sale of a product, but also the post sales initiatives as well. Advertising is the big draw card for a consumer to become interested in a product.
Thats the most interesting thing about marketing today, is not all advertising is developed to create immediate sales. Don’t get me wrong, all advertisements are there to increase revenue, but some go about it in different ways. Some prolong that transaction process to get the consumer more drawn into the culture of the brand. This means that the company can be comfortable that they will get a lot of repeat sales.
The awesome thing about advertising, is its the most creative thing you can do. There are no boundaries or limitations.
And for advertising, the sky is definatley not the limit!
Advertising allows for a huge range of potential customers. The biggest advertisement space is the little, or in most cases, the big 50 inch box that sits in your lounge. This little box provides the most coverage for any company, and when it is compiled with other avenues of advertising such as magazines, billboards and radio, it can definitely be a winner.
But all this coverage does cost money. And this way of communicating your brand is defiantly not the cheapest. It is the most expensive form, and is not in the price range of small and medium businesses.
Check out Audi’s advertising campaign for their Audi A3, its an incredibly feat of combined efforts from different advertising avenues: Audi A3, The Art of the Heist
So what can a small business do to maximize advertising?
Your best bet as a small business is to utilize our modern age of technology and focus on social media. Its a cheap and very effective way to communicate over a mass market.
Think about it.
Facebook has over 500 million users. Thats a heck of a lot! but what is even more astonishing is that they receive over 100 billion, thats right, BILLION hits per day. And no i am not kidding you, google it!
Why pay a fortune to get tv advertising when you have over half a billion people that are able to view your advertisement.
Okay, so we know how much of an audience you can get, but the most important question to ask is: How do i get their attention?
Do your homework, leaner about your consumers, learn about marketing techniques. Google is an amazing place, you can lean a lot. An hour or two spent searching for social media marketing strategies will lead you to a gold mine.
Most important of all to remember is to make it interesting. Do your best to think like your consumer. Pull yourself a far away from your business as you can, and imagine what would attract you if you were a consumer. People will only seek out what is interesting. Thats why so many people believe in the world ending this december. Isn’t it more interesting to hear about how a Planet X is meant to be hiding behind the sun then collide with earth? its a lot more interesting than the truth, the beginning of a new calendar for the mayans.
Why do you think people believe those adds on tv of that big mac burger, all dressed up with its fresh lettuce dripping with water, its flame grilled beef pattie sizzling on the grill? Its not true and we know its not, but its that yummy burger we saw that we believe.
I hope this has informed you a little bit about advertising and how you could apply it. I am setting up my first business as a teenager this year (fingers crossed) and i will be using social media to capitalize on the massive market. I studying marketing as my major so i have an understanding of how people think. I definitely recommend giving it a go. I will be providing updates as to how the marketing side of my business goes once it is up and running.