Advertising and marketing has been around since the beginning of time. Dating back to carvings from ancient Egyptians, advertising was born when individuals recognized the the concept of comparative advantage and chose to barter items. However, the advertising industry was revolutionized with the creation of the internet. This changed the way ads were broadcasted – the way consumers digested them, and further solidified the importance of having a strong marketing presence.
Here are some advertising myths that need to be debunked.
- Advertising is too expensive. The better question is can your company afford not to advertise. Your competition definitely hopes you think this way. There are a number of cost effective ways to market your company or product without breaking the bank.
- Business is good – why advertise? You have too much business? Enough business to sustain stats quo, or enough business that you are growing at a rapid pace? Everybody knows that business can dry up at the drop of a hat. Enough business is never the end game. Don’t know until business is slow to start your marketing campaign.
- Good products don’t need to be marketed. We know you’ve already spent money creating your masterpiece. If you aren’t putting the time and budget behind promoting it, then it’s probably all for not. This doesn’t mean you have to break the bank. There are a variety of avenues available that will place your creative in front of the right people. This is where putting in the time comes into play. Take the time to be strategic in your placement.
- My business is too specialized to reap the benefits of marketing or advertising. It doesn’t matter what industry you are in, there is always an industry leader – and odds are they got there through strategic marketing efforts. Obviously your product or service has to be good and valued from consumers, but a solid marketing campaign can go a long way.
- We can just do it internally. If you have the capability then great, but most businesses do not. Don’t leave it up to the intern because you think they are young and understand technology. Sometimes this is a worse idea than not advertising at all.
- Advertising is too complicated. It doesn’t have to be. So many people try to overcomplicate advertising. Sometimes the best ads are simple using nothing but a little common sense.
Marketing and advertising play a crucial role in the success of your business. If you don’t have the knowledge or people to successfully conceptualize and deliver a successful campaign, then don’t be afraid to look externally for help. The ROI on a good marketing campaign is more than worth it.