Why Advertising is Important
With the economy in its current critical state, people are trying desperately to hold on to the money they own. They spend when necessary and make cut backs on the things they enjoy for the sake of clinging to what they fear may be gone tomorrow. Companies everywhere are letting go of their employees by the dozens. Businesses are even cutting back on advertising costs. But wouldn’t it be advantageous to continue advertising your product if not even more so? When you stop advertising you lose sales not gain them. How are people going to know about your business and all its benefits if they don’t know what you have to offer? What good is a product if it is not known to the masses?
The economy should not be the reason to stop advertising your business. As a matter of fact now is the time to convince others that your products or services are beneficial to them in spite of the recession. In your attempts to save money by not advertising can actually make you lose money. How? By not promoting your business people will assume that things are not going well. They will not be aware of any special sales or promotions you may have going on. Many companies struggle to stay afloat because they stopped advertising or drastically cut back on it. For example, years ago a well known beverage was a big hit in its day because people knew about it. It had catchy jingles in their commercials and everyone knew about it.
Today that company still sells beverages but if you ask the average person under twenty five about the beverage, they’ve never heard of it. The reason is because it’s not being advertised. Now you see, this product has been advertised everywhere; on television, billboards and radio just to name a few. Its popularity continues to soar in sales because they didn’t diminish their advertising efforts. They know that in order for sales to be consistent and competitive it is good business sense to promote it. So is it wise to sacrifice a few dollars to advertise a product if it will make a profit for you in the long run? Absolutely! Don’t let the fear of losing a few dollars frighten you into not doing it. If you spent a thousand and made a profit of ten thousand wouldn’t it have been worth the investment? Every good business savvy individuals know that the key to gaining and retaining customers is to advertise and keep doing it.
When people don’t know of your products or services or only heard of it once or twice they will likely forget about it a month or two down the road. Companies are afraid to spend money to advertise because they are thinking of the here and now and are missing the bigger picture. Make a presence that will dwell in the mind of the consumers for years to come. Stop and think for a moment how companies became as huge as they are today. They advertised, and they never stopped. They continued to reinvent and develop bigger and better products through the years and show no signs of slowing down because they know that if they do, they are in jeopardy of losing a lot of money. So think about it; would you rather spend a little and gain a lot? Or spend nothing and gain nothing? The economy is bad but it does not mean you have to experience it for your business.