Regardless of the advertising vehicle you choose to use, you have a preconceived expectation about what your investment should yield. You refer to it as ROI, Return on Investment.
When you invest money in advertising, depending upon what you are trying to accomplish, the results may vary. If you are running a special event, you should expect that your advertising will drive potential customers towards your products or service immediately. If you are running a Branding Campaign, the results are spread out over time and you may not see or feel the immediate impact.
However, businesses that advertise, especially on traditional intrusive media like TV, radio, and billboards will have a unique and distinct advantage over businesses that do not advertise, and it has nothing to do with customers calling or coming through your doors. There are “Hidden Benefits” to advertising that are rarely taken into consideration when calculating your ROI.
Hidden Benefit #1 is Improved Closing Ratio. It’s much easier for your salespeople to sell a product which has created a pre-need awareness and preference. If you were selling vacuum cleaners door to door or even on-line, would you rather try to sell a well-known brand like Hoover or a brand that no one has ever heard of?
Hidden Benefit #7 is Recruit Higher Quality People. The best quality people prefer and aspire to work for a business that they have heard of and trust and has created a well-known name through advertising.
Smart business owners understand the hidden benefits of advertising. This, along with knowing your non-advertising competitors don’t have this advantage, can set you well on your way to owning your category.
If you would like to see all 9 Hidden Benefits of Traditional Media, click here.