Effective Advertising Strategies for New Business

Effective advertising strategies are needed in order to build the best business and to provide the best services to achieve the ROI that you expect. Well furnished campaigns are needed to encourage potential customers to buy a product or avail a service. Attracting the attention of these potential customers is what we need to achieve.

The advertising strategy that you choose plays a vital role in the market. The strategy begins from the point of identifying the target audience. From setting the goal and objective to the final stage of implementation, everything needs to be reflected in the advertising strategy.

Here are the top six perfect advertising strategies that you can choose for your business to achieve the returns that you expect.

The goal of advertising:

The first thing you need to do is set the goal of your advertising campaigns. Different types of goals are there for advertising. You can set the goal for increasing sales. Or you can set the goal such that the campaign improves your brand value.

Setting goals like increasing sales are measurable. You can calculate the number of leads generated if it is sales focused. The goal becomes intangible if you are setting it for brand awareness. Before setting the goal you need to understand the resources that are available.

Budget is an important resource which needs to be analyzed before setting the goal. Relevancy is another thing that needs to be checked before setting the goal. The goal should be relevant so that it matches your business objective.

A well-reputed brand with good exposure doesn’t need another campaign with the objective of brand awareness. Also, the time period should be analyzed so that it provides enough time to execute in order to achieve the desired goals.

Discovering Target Audience:

The target audience is the second thing that needs to be identified. The advertising campaigns become useless if it is focused on the wrong audience. You should seek a deeper understanding of the facts such as age, sex, income, location etc to understand the audience that belongs to your niche.

The potential of targeted audience determines the quality of your leads. That’s why it is considered as an important factor in an effective advertising strategy. For example, If you are targeting the male audience above 40 years age to sell bangles, it will not be effective to bring the desired ROI for your business.

• Understand the uniqueness of your product to choose your audience
• Study the demographics of the audience in detail
• Competitor analysis

The timing of advertising:

Knowing when to advertise is very important. It depends upon the product or service that you are selling. While framing an advertising strategy you should ask yourself, when should I advertise? Spreading out all your advertising budget equally throughout the year is not wise since the customer behavior changes seasonally. You should find the perfect time that has the most potential for conversion and should be spending more on advertising.

Highest performing seasons should be chosen to advertise on seasonal products. For example consider if you are selling Christmas cakes, no doubt that the best time to advertise is the days just before Christmas. An effective advertising strategy should allow you to spend some extra money on advertising on the season.

• Advertise only when you have identified the target audience with the highest potential to convert.
• Advertise when you launch a new product or new service.
• Advertise when there is more competition in the market.

Advertise in the right place:

It doesn’t make any sense if you are advertising in the area that you like but your targeted audience doesn’t. For example, imagine you like a tv show but your target audience doesn’t and you run your advertising video on that TV show. It will not be effective since you are playing the ad in the wrong place.

• Choose the right context and location.
• Run the campaign in a location that creates community goodwill.
• Choose the best platforms that can meet your objectives.

Go for Online advertising:

Online advertising is an effective advertising strategy which uses the internet as the medium for advertising. Online advertising is also called digital marketing or Internet advertising. The statistics from various sources prove the increase in internet usage. And it is predicted that over 5 billion people will use the Internet by 2020. Online advertising is now the easiest way to reach potential customers and that is why many small businesses choose a digital marketing company to market their product.

• No limit on targeted audience
• More focused targeting
• Faster advertising approach
• Budget-friendly
• Measurable compared to traditional methods of advertising
• Simple advertising tools

Brand Building:

Brand building is a key part of an advertising strategy. An effective branding strategy can convey your brand identity to the target audience. Brand building involves giving awareness and promoting the services or products You should be able to convey the personality and promise of your product to the audience.

• Choose the brand name and the logo wisely.
• Use a consistent approach
• Use referral programs
• Use outstanding videos and images
• Promote engagement and conversations on social media and other internet platforms
• Consult with an expert in branding such as an advertising agency.