Successful businesses have many things in common, today we'll look at the big 'R'of recognition and how a digital advertising network may help.
Recognition can be illustrated by two individuals entering a crowded room at a party. Both walk to the far side of the room, one of them slips through the crowd easily and unnoticed as they reach the far side. The second person takes much longer to reach the far side because they are engaged in conversations along the way as they continue to meet acquaintances and friends during their path. Which type of person would you like to model your business after?
Your business is in a continual battle for your customers' recognition whether you know it or not. If you happen to be fortunate enough to be in a marketplace with very few competitors, that will not last for long. You need your business to be at the forefront of your client's minds so that when they require your products or services, you are the go-to people.
Marketing your business is a necessity. Putting your name and logo out there and keeping it there is a must. This lets clients know that you are "still around" and in business. Frequency is a good way to achieve the "stand out factor" in recognition. I am reminded of both television and radio ads I had heard of in the past.
They run continually with a catch phrase or musical jingle over and over again on the radio or television until you are absolutely sick of hearing it. You also cannot get it out of your head. Although this type of advertising is expensive, it can be very effective, and the recognition factor is quite high.
Television and radio can reach a large audience, and they are broad in their appeal. In a brief sentence, you are paying to market to both those that are your potential customers and a large segment of those who are not now and probably never will be your customers.
There are more economical ways to pursue frequency, the point is to define your target market demographic, and invest your marketing funds into the locations that will best be seen by them.
Another factor to consider is "can I market myself in a place where I will stand out from my competition, or where my competition does not have a presence?" Why would you market yourself in a flyer or newspaper right beside your competition and risk blending into a crowd, and ultimately being ignored?
Another issue to look at is diversification. As the saying goes, "don't put all your eggs in one basket". When you look at your advertising budget for the year, try to find the affordable solutions that will continue to reap during the full year of your advertising budget.
An expensive radio or television promotion may give short term gains for that weekend sale, but what about the rest of the year? Your clients may end up with the impression of where did they go, I haven't seen or heard anything about them for so long.
Don't always look for the old standbys in marketing, but keep your eyes and ears open for the latest and greatest ways to market your business. With the costs of technology coming down dramatically new options such as digital advertising on LCD and Plasma screens are becoming more and more affordable, and the paper billboards and posters becoming a thing of the past.
With the flexibility, and curb appeal of full color and motion video footage with computer generated graphics available to you, this is an option you don't want to pass by without a good look.
Ultimately, recognition is required if you want to get people "in the door" of your business (or on your website for the new e-businesses). This is going to cost you money, time and effort up front any way that you look at it, but if you have successfully reached your target market, the payoffs will be worth it.