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Advertising Is An Investment
In Retail Results
Advertising is one of the most important tools a retailer has. A sound
understanding of its use and elements will result in
more effective advertising. For some businesses seasonal ads are the
most effective. For others, ongoing print ads for
special sales work best. Still others will utilize radio to capture
the attention of the market for that limited time only sale.
And now more than ever, companies are advertising with their own Internet
web site or "renting" space on commercial
sites that offer storefronts for their product promotion and ordering.
Whatever form advertising takes, the financial commitment to advertise
is a very basic business decision. Advertising
expenses should be planned with a return on investment in mind. For
every advertising dollar, the business must recoup a
percentage as part of every sale. When you set discounted promotional
pricing that must be considered as well. Does a
discounted promotional price and the advertising expense mean a loss
on a particular sale item? Is that a calculated loss
to bring business in the door in anticipation of a multi-item sale?
Does that technique work?
Advertising is a fundamental business question. The answer is yes- if
you are a retailer you should advertise. The
question now becomes how to budget and implement an effective advertising
program. Plan your expected highs and
lows for foot traffic and sales volume. Develop a one-year advertising
plan. In your own mind, you need to know when to
emphasis advertising in your marketing mix. You can't advertise everywhere
all the time. Be selective before you ever
spend that first dollar. Think first and spend later.
As part of your advertising plan, budget for the creative concept, layout
and production of an advertising theme. If at all
possible, hire someone specializing in advertising to develop a campaign
for you. This does not have to be expensive.
You can choose between advertising agencies, graphic design firms and
freelance marketing pros. This expertise can help
provide you with the savvy copy that attracts customers interest, attention
and action. If you can't afford to invest in a
campaign theme. Carefully plan your messages and goals for the ads
and get production support from the television
station, radio station, newspaper or magazine running the ads.
An advertisement should generate a buying response. The potential consumer
should become interested in the product
and understand the benefit of the product or service. How will your
product or service make life easier or more
enjoyable? The creative aspect of a clever and intriguing ad should
help elicit interest. Invest wisely. A poorly conceived
or executed advertising campaign can harm your business. Advertising
is an investment and the time and money invested
should add value to the bottom line. You want foot traffic and you
want increase sales volume-advertising can help
make it happen.
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