Are you looking for practical examples of marketing strategies in a marketing plan to promote your new product and improve sales? I scouted around and gathered this list of free examples of marketing strategies in business. In this post, I will give three examples of marketing strategies to increase sales including a bonus of two other secrets.
With the knowledge that an investment without a solid marketing strategy is prepared for failure, a small business owner, you don’t necessarily have to go through the sleepless night trying to come up with. complex marketing strategies. I have compiled examples of marketing strategies for small business services.
5 Examples Of Marketing Strategies For Small Business
GUIDE: How To Use Your Competitors’ Strength Against Them
1. —-» Build Customers’ Trust
Consumers taste often fluctuate based on certain factors. They are reluctant to spend their cash on a product that just enters the market. If you are looking for cheap marketing strategies for a new product, you should create ad campaigns that emphasize on the value of the products, give out free trials and create offline and online platforms for product reviews.
Boosting your customers’ confidence would generate more sales. This is unarguably one of the best real-life examples of marketing strategies.
2. —-» Generate A Buzz
Creating massive awareness for your product is a way to spark public interest in your products. Exploit many advertisement channels such as print media, TV and radio, social media marketing. The only downside is that this is a very expensive marketing strategy.
MTN, Dealdey, Jumia, Konga, and Olx are popular businesses that exploited this strategy of increasing brand awareness. Increasing brand awareness is a good example of marketing strategies for a new product that will help recover your initial investment.
3. —-» Maximize Buyers’ Emotions
You cannot separate emotions from buying habits. No wonder huge businesses spend thousands of dollars researching into customers’ taste and behavior. After analyzing many of such surveys, they then go ahead to create programmes, ad campaigns, and circumstances which can be used to influence their buyers’ emotions to their market advantage.
Most businesses that use sports marketing actually exploits the ardent customers’ loyalty and dedication to game events. The basis for success when using this type of marketing strategy is to be able to design a campaign that intensifies the need for the customer to buy more. This idea tops examples of marketing strategies for restaurants.
4. —-» Prepare For Objections
This is definitely one of the best three examples of marketing strategies. Removing a buyer’s objection to buying a product is a responsibility often assigned to the sales agent. A marketing strategist can fashion ads and campaign to overcome this situation too.
Highlighting the potential objections and overcoming them through offering warranties, testimonials, endorsement and other positive reviews is a major step in facilitating a buyer’s buying decision and attracting new customers who have problems deciding initially.
5. —-» Create An Urgency
Whether knowingly or unknowingly, people respond to the deadline. Painting a sense of urgency by setting deadlines is a very good example of marketing strategies and tactics often employed by many companies.
Here are some unique ideas to develop a marketing plan around the concept of urgency: sales ending soon, limited products on offer, temporary price drop, bonuses and promos expiring soon etc.
The rush of customers from such campaigns has the capacity to jump-start a business which has been having issues with reducing customers base.
How To Get Media Attention For Your Business
When you work for an organization, there may be specific personnel and department in charge of marketing and public relations. But when run a business of your own, the situation changes. As a business owner, it is your sole responsibility to generate visible results for the business include awareness which eventually translates into more sales. There many entrepreneurs out there who would love their small businesses to enjoy major media coverage and publicity.
One of the things that appear almost impossible to achieve for a small business owner is getting press and media attention. Many people find it difficult because they don’t know who to contact, when to contact and what to contact them with. Sending a press release in a bid to get media coverage for a business is traditional and may not get you as far as you proposed. Some even bother themselves with questions, like: On which business model is most of the media attention focused?
Do you need quality press and media attention for your business? In this post, I will show you five simple ways to get business media attention really fast.
Get Media Attention for Business
Your business should partner with big businesses in your industry. These are related businesses, not business in competition with what yo do or offer.
Are you a caterer? You can partner with established event planners, band artistes and DJs in your locality. Many of these businesses extend invitations to other businesses affiliated with them depending on the strength of relationship. When they secure contract for big events that naturally attract media attention, your business will enjoy a perk too as more and more people become aware of what you do.
HIJACK TRENDING NEWS
When President Mohammadu Buhari, Nigerian present won the election,Union Bank was quick to maximize the buzz by coming up with an advert with a tag-line, ‘If the President Banks with Us, What Is your excuse?’ This is called New Jacking. It involves running promotions such as a viral image or video that buy into a trending news or event to get maximum reach for your business. When a piece of news breaks, reporters are still scrambling for more details and this is a suitable time businesses can release their own ‘weave’ This will ensure that your advert enjoys a huge share of the huge traffic from search keywords and hashtags generated by the heightened public interest. With social tools like Google Alerts, your business is updated about relevant news in the the industry while Facebook and Twitter effectively for advert campaigns.
BUILD RELATIONSHIP WITH JOURNALISTS
Building relationship with journalists will make featuring your story or press release easier. Keep the relationship friendly and professional. Don’t force a story down their through or be very desperate that you don’t allow them space to review and decide. Being assertive is different from being aggressive. Send them cards or a little gift on Birthdays, Christmas etc.
SUPPLY NEWS AND OPINIONS
You can share opinions with journalist about a story. This method involves a diligent survey of areas where expert opinion may be needed. As a law firm, you can send in your opinion on avoiding being a fraud in buying land if you notice such trend. HARO- Also known as ‘Help A Reporter Out’ is a powerful platform use by popular websites as a new source. With a free account on HARO, you can share news three times daily. ProfNet is another website that connect professionals with journalists.
COMMUNITY VOLUNTEERING AND CHARITY
Participating in community development projects and volunteer in the capacity of your business can get you the desired attention. Focus more on charity works and volunteering that require your professional input and expertise.
Are you an architect? Drawing plan for the community school at no cost is one good way to promote your business. The awesome thing about local participation is that such events carry great tendency to be broadcast by my the media. If the services are rendered in the capacity of the business, this draw attention it too. Depending on what you are offering, you may even explain to the community what you desire in terms of business visibility in exchange for your services.
Do you have a business you would love to be promoted? Advertise. Advertisement increases your exposure to regions you cannot get to physically. It is good to also secure attention through advertisement. The main thing is you should be ready to manage and preserve such attention. Promotion only brings awareness, it does not guarantee sale nor continual sales.
Starting a Digital LED Display Advertising Business
Marketing and advertising together are integral parts of every indoor and outdoor business, and in today’s generation, the transition of traditional print advertising to Digital LED Advertising in the Philippines is no surprise as technology took the spotlight.
From the residential condominiums in Quezon City, to the hottest club in the metro, Digital LED Advertising comes in full force to bring your message to the thousands of working Filipinos in the city.
First, what are LED Displays? As generally defined on the internet, “LED Displays are flat panel displays that use an array of light-emitting diodes as pixels used for video display.” In simpler words, it makes the message that advertisers are trying to convey attractive and most importantly, eye-catching.
Sure, advertisers have had those fancy light-up advertisements in the classy Manila of the 60s but they have never been able to replicate the clarity and the attraction that is possible today with Digital LED. Advertisements started with traditional print marketing wherein companies would have their advertisements printed in large format on outdoor LED display billboards to be displayed on our expressways and our cities and sure, they were wonderful – for a time.
Now that the technology to display a company’s brand in high definition and in crisp colors exists, it is now the time to transition from traditional print advertising to Digital LED Advertising.
All around the world, advertisers are now opting for Digital LED Advertising – from New York’s iconic Times Square to the colorful streets of Tokyo, LED is everywhere and Large LED display is now.
Here are some of the advantages of Digital LED advertising boards:
• Ease of Distribution – Giant LED Screens are installed in areas where there is heavy traffic and this can achieve tremendous results in attracting eyes to the company’s brand and message. Digital LED Advertising is also used in major sports such as Basketball and American Football and brand recall is now easier than ever.
• Environment Friendly – With the introduction of LED sign board, companies are no longer printing on paper and they are helping save the environment. Also worth noting is that LED display screen come with energy conservation! Helping save the environment is a cause that any company is sure to champion!
• Ease of Release – Advertisers can easily update marketing content at any time. The process is fast, easy and reliable and it is not affected by weather conditions or anything that affects traditional print marketing. Large LED screens may be updated monthly while smaller LED outdoor displays update at least once or twice a week.
In summary, LED Advertising is almost impossible to ignore because digital signage are eye-catching and bright. LED Advertisements employ special effects and animated movement and are easily customizable, even if vital info needs to be changed and they can be fine-tuned to suit to be impactful in both night and day and best of all, should an advertiser be the lone-user of an LED billboard then chances are that advertiser would get most of the attention from the people who see such outdoor LED signs! Asides the led billboard advertising rates in the philippines, you can get the contact details of the nearest LED display supplier to you through Google.
Easily customizable, safe for the environment and extremely eye-catching, LED Digital Advertising is the now we live in and it is time to adapt them even as more sign business franchises continue to spring up.
Describe the Benefits of Marketing Research to an Enterprise and Customers
What is the main purpose of market research to an organization, customers or product development? Market research is a very important tool that determines the failure or success of your business. Every successful business recognizes the saying “knowledge is power” and market research gives you the knowledge. Thus, arming a business with knowledge via market research can give you an edge over your competitors.
How is a market research conducted? What are the benefits of market research for an import or export firm? How can you use market research? This article answers these questions.
What is Market Research?
Market research is a system of collecting and analyzing data that concerns such important things such as your target market, your market competition, the business environment and other important factors. It is an important step before you even have a business plan written.
Managerial Benefits of Market Research for Business
What is the importance of market research? Here are the benefits you get from conducting market research for your business;
1. Identifying Target Audience
This is one strong benefits of market research. If you create a business that provides goods and services, you need to identify your audience. Who is the audience? Where does the audience live? What are their ages? Will they enjoy the goods and service you provide? These questions need answers in order for you to ensure the success of your business venture.
With market research, these important questions are answered. Market research helps you to know the underlying factors that drive your customers consuming nature; their innermost needs and what factors motivate them.
The underlying factors will arm you with information regarding what they like and dislike. Thus, it will make it easier for you to provide the products that will meet their present needs.
Using market research helps you know if indeed your product or the service you render has a group of people that would be interested in your product. It helps you know what groups of people are in need of your product or service and if there are underdeveloped parts of your target audience.
If you do not do this market research, it can lead to failure and bad sales in your business. In fact, market research is required no matter the stage of your business. It helps you know if there are any shifts in perception and attitudes of your customers.
When you conduct a market research for your business and discover these changes in your customers, you are better prepared to evolve with the changes by offering new products or services that meet their current needs. Market research helps you to stay ahead of the curve and outsmart your competition. This is one of the numerous economic benefits of marketing research.
2. Market Research Helps you to Reduce Risks
Another thing market research can do for your business is helping you reduce risks. By using market research, it is easier for a business to analyze and foresee the success of their good or product. Market research can sometimes involve real-time testing of goods and services for a period of time to see how well or how badly it performs in the market.
Seeing the results of this market research will help you know if you should go ahead with the venture or not. It can help you identify locations where your product has stiff competition, his will, in turn, help you make necessary adjustments to location and similar factors. Thus, it reduces the risk of eventually going ahead with the business and incurring losses in the future.
3. Market Research Helps you Know your Capabilities and Build your Reputation
When you conduct market research, it will help you to improve the perception of people about your business venture. It helps points you to current trends in your industry and the steps you will need to take to be on top of the game in your industry.
Market research also will assist you to recognize the capabilities of your business and your weaknesses. You are better equipped to recognize where your standing is in the professional community, what services you are realistically able to provide and to know how effective the strategies in place to run your business are.
4. Helps you Determine How and Where to Advertise
This means that market research will assist you to use funds wisely on advertising. Using market research, you are equipped with the knowledge of the places, physical and digital, where your target audience is most likely to gather.
Thus, instead of employing a scatter-shot approach to advertising, thus wasting funds in the process, you are able to know where exactly you should direct your advertisement for maximum engagement of your customers.
5. Helps you Make Right Decisions
Wrong decisions will affect your business negatively and prevent you from achieving the goals and objectives of your business. Writing a business plan requires information about the market, information which can only be gotten using market research. With this knowledge, you will find it easier to make the right decisions that will ensure the survival of your business.
Market research is one of the most important tools for businesses. The benefits include, among others, helping you know your abilities and help build your professional reputation, helps you to reduce risks, identify the target audience, and help you determine how and where to advertise. This will give your business the right direction for growth.
5 BEST MORTGAGE MARKETING IDEAS
We approach different types of marketing in different ways and manner. When we are talking about mortgage broker marketing, we’re talking about something that isn’t typically won’t be thought of as innovative. It is known to be mostly based on traditional advertising methods. In addition, it is often not very interactive.
Actually, marketing automation gives mortgage brokers the chance to create automated messages that are based around each client needs and feedback too.
Here are some ideas that centers on engaging clients and boosting loyalty and at the same time reducing one’s workload.
1. YOU OUGHT REVISIT YOUR EMAIL STRATEGY
Pause. Irrespective of where you presently are in your email marketing process, you should pause and take a few minutes to assess its effectiveness.
While gazing at what you do, you need to ensure that the content you are sending is personal (and also something that the recipient wants to read). The simple reason many aren’t achieving the desirable result with content marketing is because they are trying to sell to their audience instead of helping them. When you keep sending consistently compelling timed emails to your audience, you get branded as an industry expert. Additionally, your name will remain inside their inboxes and inside their memory.
2. USE SOCIAL MEDIA TO YOUR ADVANTAGE
Definitely, any business owner that isn’t active on social media is really missing out on the opportunity to connect with new potential clients. Social media is actually a nice way one can show his knowledge as a mortgage broker (show one is an authority in anything that has to do with mortgage). And additionally, social media is a nice way to connect with other businesses in the community and build brand awareness and lots more.
For your effective mortgage marketing, one social network which should be given lots of attention is facebook. And while promoting one’s brand on facebook, we all should know already that facebook has reduced organic posts from business pages in the News Feed. Therefore, you need to spend some little money to get guaranteed exposure.
3. YOU SHOULD EMBRACE MOBILE AND RESPONSIVE DESIGN
Mobile is getting more and more popular. Many internet users do visit the internet with their tablets or Smartphone. It is reported that like 66 percent of emails are opened on a phone or a tablet. Therefore, mobile matters a lot.
If you are a loan officer, you can actually benefit a lot from having responsive websites. This will be so useful when it comes to constructing an overall professional brand image. When your website is responsive, no matter the screen size, the content and the design can adapt correctly and can definitely be read on any device (adjusting the navigation buttons on smaller screens to make them finger tab-friendly). Either you create your website yourself or you hire someone to do it for you, ensure you test each page on multiple browsers and device types too.
4. UPDATE YOUR GRAPHICS FOR CONSISTENCY AND BRANDING
For every brand in any industry and niche, graphics are very important because they speak a lot about the brand. Before someone have the chance to meet you, using the right or wrong graphics can influence the person’s opinion about you. While choosing your images, you need to choose wisely, keeping in mind that your customers relate better to pictures of actual people.
As a loan officer, you might consider this: instead of using corporate art that represents general business concepts, simply use images that relate to the city you are in. And if the photos of your office are older than two years, simply hire someone to update them for you.
5. TRACK YOUR ONLINE LEADS
You need to ensure you track your online leads in detail with the aim of connecting with them personally. If a lead visited your website and didn’t even leave his or her contact information, one can still gather a lot of information about the person.
Lead tracking follows a lead and tracks where they come from. Then, it records things like links that are clicked and others. The thing is, it builds up a very detailed personal profile for each lead. Thus, even if a lead that visits your site failed to drop their email or the phone number before leaving, you can still have their information and then reach them out. And generally, when you keep gathering online data constantly, you learn which parts of your website get the most attention so that you can go ahead optimizing the site.
7 Steps to Defining Your Target Market
Are you having problem defining and locating your target market? Some business says, ‘they target anyone interested in their products and services’, others target on small businesses, stay at home mums, etc. Locating your target market is the key to succeed in business. Have it in mind that everyone is not your target market. Your riches in business is in your niche. So why is it important to define your target market for your business?
Steps To Identify Your Target Market
The problem is, if you have no idea defining your target market, then you will waste a lot of time and money marketing to the wrong people and annoying them with your numerous ads.
Business owners find it tempting to sell to their ideal market but they want everyone to partake in the buying of their goods and services. Understanding the truth of how to define your target market is the foundation to all successful business.
Many make the mistake of choosing their market based on emotions, this is a sure recipe for disaster. There is no room for emotions in the realm of marketing. For you to be able to clearly define your target market, you must know;
Questions That Will Define Your Target Market
• Who your customers are.
• What their problems are.
• What solution you can provide.
Here are my top 7 ways to define your target market:
How to Identify a Target Market and Prepare a Customer Profile
1. Brainstorm the Problems You want to Solve
Your products or services should have a specific problem it wants to solve in the market. This also answers the question, “who are your customers”? Because your customers are the people who are experience the pain that your products or services can relief for them.
When you pick a specific problem you want to solve, you become clear of who you want to serve.
2. Brainstorm on the People with the Problems You want to Solve
Think of people suffering from the problem you have the solution to. Where they gather online and offline (so you know where to throw your ads), their age level, occupation, income range, etc.
If you run a business to business company, you should find out which business organization need your products and services and why. What do you think would be their problem for them to need what you have to deliver?
3. Analyze Your Products and Services
More ways to define your target market is by analyzing your products and services. Make a list of each features of your products and services. Next to it, write out the benefits and the kind of people that can enjoy those benefits.
4. Assess Existing Customers
Another way to define your target customers is by assessing your existing customers to find out why they buy from you. What demographics and psychographics are compelling them to use your product or service.
Based on your results, you might decide to expand your target market to include another age group, but make sure your logic is based upon the set criteria and not simply your bottom line.
5. Using Demographics and Psychographics for Market Targeting
What psychographic characteristics define your target market? To be successful at defining your target market in your company, you need to include demographics and psychographics of your appropriate customer into the picture.
Demographics includes data like age, education level, marital and employment status, number of children etc.
Psychographics includes psychological variables like interest, attitude and opinion, emotional and ideological beliefs. These are attributes relating to their personality, values, fears and lifestyle.
Using these characteristics, you can draw up a customized customer profile. This is one other way to define your target market for B2B .
6. Demonstrate You know Your Target Market Pain
You’ve likely heard that individuals are by and large determined by joy or pain, and that people will accomplish more to keep away from pain than to pick up joy. When you know your market’s pain, then market openly to that. Show what you can to do to ease the pain, what problems they have and how they can defeat them with your offer assistance.
7. Evaluate Your Decision
Once you have finish defining your target market, you need to consider these following questions;
• Are these really my target market?
• Those these people fit my criteria?
• Can they afford my products or services?
• Are they easily accessible?
• Do I have the marketing message?
Don’t make your target market too small, remember, you can have more than one target market. If eventually you resulted in defining more than one target market your products and services can satisfy, that will be good news because it will lead to more sales and expansion.
Defining an ideal target market is the critical step. When you know your market, it is much less demanding to make sense of which media you can use to contact them and what marketing messages will impact them.
Rather than sending standard mail to everybody in your ZIP code, you can send it just to the individuals who fit your criteria. Spare cash and improve degree of profitability by characterizing your intended interest group.
HOW TO BOOST SALES THROUGH MOBILE MARKETING TRENDS
How SMS Mobile Marketing Solution Increase Sales: Mobile commerce sales in the United States were expected to top $104.05 billion in 2015 – a 38.7 percent growth rate versus revenues from the year before – and m-commerce is growing approximately 2.58 times faster than e-commerce as a whole.
Translation: people aren’t just buying more online, they’re finding and purchasing those products through their smartphone or tablet.
Take advantage of this trend by tapping into our 5 tips for better sales through mobile marketing sales strategy.
5 EXAMPLES OF MOBILE MARKETING TOOLS AND SALES STRATEGY FOR SMALL BUSINESS
Know Your SEO
SEO stands for search engine optimization, or the steps you must take to get your website recognized and ranked by search engines such as Google. Traditionally SEO has been almost synonymous with keywords, but today it’s so much more than just incorporating “best budgeting software” into your blog a handful of times. You also need to take a look at meta tags, create original content, and make sure your site works well on mobile devices (more on that in a minute). Mobile searches lead to corresponding online action – such as a website visit or even a sale – 70 percent of the time, a rate almost three times better than the conversion rate on a personal computer. Get noticed by the search engines and you’ll get noticed by the consumer, and these days that means a sale more often than not.
Optimize Your Site for Mobile
Mobile optimization involves making sure your website looks and works great no matter what device it’s been accessed from. For some businesses, this means creating a separate, bare-bones mobile-only site that offers a limited amount of information; other companies want continuity between mobile and desktop users and decide to have a one-size-fits-all design that is simple yet effective. There are pros and cons to both approaches, but the bottom line is that you need a website that works for mobile. If your content trails on the screen or if your site loads slowly or if images or links come up as broken, it’s simply not going to fly:83 percent of mobile users will take one look at a site not optimized for mobile and head off into the wild blue yonder, never to be seen or heard from again. Not only have you lost a potential sale right in that moment, you’ve also made a bad impression that could follow you forever, and cost you that customer for a lifetime.
Make Your Social Media Ads Mobile-Friendly
People are all over social media these days, and they’re increasingly logging in not from their laptop or desktop computer but via their mobile phone. Some 1.28 billion people are active on Facebook every month, and of those 78 percent only go online from their smartphone or tablet. If you want your Facebook ad campaign to be effective, it needs to cater to these users. Boost posts with links to mobile-friendly content and create campaigns that target mobile users heavily. You may only have a few seconds to grab a quick-scrolling social media surfer’s attention, so keep your message succinct and user powerful graphics and simple but impactful fonts that set you apart from every other post on people’s newsfeeds.
Would you rather be talked at by the mobile marketing companies you do business with or be a part of an ongoing conversation? Chances are you’d rather have your say, and you can help your consumers do the same by offering them opportunities to interact with you from before the first time they discover your brand until long after they’ve already purchased your product. You can ask for feedback through an SMS message, send out an email survey after a website visit or purchase (SMS automation works great for that), or even just read and respond to social media posts on your page. People crave connections and the more you foster that bond the more likely they’ll want to spend money with your brand.
Make it Convenient
Life is hard. Make buying your product easy by incorporating intuitive design and taking the guesswork out of all your marketing collateral and advertising.
● Embed links in your ads that take users to the advertised product
● Make sure your e-commerce shopping cart is mobile friendly
● Offer mobile-friendly payment options like credit card scanning or links to easy-pay sites like Paypal
● Remember screen size: no one wants to inadvertently suffer from “fat finger syndrome” and accidentally click a link they can’t get out of simply because the screen is too small and the link was too big
We’re standing at the beginning of a brand new year. It’s the ideal time to start a new small business or to take steps to see your current business soar, and these 5 tips are the perfect way to help make it all happen.
Sophorn Chhay is a professional inbound marketer who is an expert in generating targeted traffic and sales boosting leads. Through the use of Trumpia’s SMS marketing automation solution, Sophorn assist business ventures and organizations interact effectively with their new and existing clients and members.
Major Functions of Advertising Agencies
Here are the roles and responsibilities of an ad agency. Advertising agencies generally are organizations skilled in the provision of crucial services of informing or enlightening people about other services and products. To benefit from services rendered by advertising agencies, a fee is charged by the agency.
Without advertisement, we will have an uninformed public who will find it difficult to access certain products and services. This article focuses on enumerating these functions and providing an explanation of their functions.
What Advertisement Means to Business
The two are inseparable. Every business venture requires one form of advertisement or the other. Businesses exist sole for profits. To get these profits, there needs to be an increased sale of its products and services.
To achieve this increased sale, word needs to reach out to the buyers that such a service or product exists. Just as how humans cannot survive without water, so businesses would not stand without effective advertisement.
There are several functions these advertising agencies provide. These services range from the most basic to the very complex advertising tasks. The following are some of the structures and functions of an advertising agency;
Fostering Strong Beneficial Relationships
It is a fact that before there is any meaningful exchange of services between individuals and groups, a relationship has to be established. Advertising agencies carry out this function quite well by fostering strong and beneficial relationships among the cross section of members of society.
This relationship covers the buyer, seller, shareholder, the employer, the employee and every other group of people offering or exchanging products and services. They act as a junction for all these varied segments.
This is a key function of advertising agencies as they use available data presented to them with the help of market researchers to draw out marketing strategies that will yield an increased patronage of their client’s services and products.
Without the conduct of research, advertising agencies will act blindly and their functions will be uncoordinated to say the least. Research enables them to strategize on the advert tools to use, and to have a clear idea of who their efforts should be targeted at (target population).
Advertising agencies formulate a budget structure for the advertiser to work with. This budget structure minimizes wastages to the barest minimum, ensuring that the advertiser gets real value for money, while maintaining the business relationship.
Here, all forms of leakages are well plugged to ensure a maximization of financial resources. The resulting effect is a much reduced advertising budget while maintaining high impact.
Creating a Plan
Advertising agencies create effective advert plans for businesses. This is possible through the analysis of current advert strategies in addition to using current and previous information on the market to draw out a projection for the future.
This plan provides deliberate actions to take to achieve the business goals of the advertiser. Having a plan in place ensures that decisions taken are devoid of guesses which may likely lead to costly errors.
Modification of Products and Services
Advertising agencies may choose to modify a new or existing product to fit the needs of the consumer, while generating increased sales for the seller. This modification may be total or focus on particular features of the products.
The aim is to ensure that the product or service is stripped of any feature that inhibits its acceptance and addition of helpful features that will enable it to sell.
The Promotion of Sales
After products and services have been modified to fit the needs of the consumer or buyer, sales promotion of these products and services is necessary. This is a function advertising agencies know how to do well. Through the promotion of these products and services, they highlight the strong points of the product or service to create new consumer patronage.
Not every media is suitable for effectively advertising a product or service. While some products may thrive when advertised using a particular media, others may require a totally different approach.
Hence, knowing which media to use, and when to use it are the functions of advertising agencies. The central idea here is selecting the medium that will achieve the best result (widest reach) while maintaining a low budget.
Developing Innovative Strategies
To achieve this aim, creativity is a necessary ingredient. Knowing what innovative strategies to use for particular advertisement is very important. The consumer is always the target here.
A lot of effort is put into this area of advertising as it can make the difference between an increased patronage of the advertiser’s products and services and a drop in sales due to a negative impression formed about the advertised product by the advertising agency.
Setting Up an Organized Advert Strategy
To function at optimal levels, advertising agencies map out advert strategies that ensure that all their activities are streamlined. Such coordination is a necessary tool that ensures high productivity.
This article has provided the functions of advertising agencies. These functions are a necessary ingredient that ensures that their productivity level is improved upon while increasing sales for advertisers, creating a win-win situation for both advertiser and the advertising agency.