The Growth BlogNovember 11, 2022
Never Stop Advertising
Whether you’re a large, established brand or a fledgling startup company, or selling homemade items from your bedroom, it’s important to never stop advertising. There’s always someone out there who needs reminding of your services, or perhaps they’ve only just entered the Awareness stage of the marketing funnel. Let’s explore reasons why advertising all the time is always a good idea.
The World Needs to Know
So, you’ve set up your new business and are ready to start selling your services or products to the World. Great! Just one small snag…nobody knows who you are. Oh no!
Advertising is always important but perhaps never more so than at this key early stage. If people don’t know that you exist, they can’t make purchases, and you can’t make money.
Not only does marketing clue people into who you are and what you offer, it also provides a certain level of legitimacy to your business. If someone is searching for a particular service and they come across Company A which has a website, social media page, and Google Business profile, and then Company B which has none of the above, it’s likely they’d lean toward Company A even before any consideration of service quality.
But what is often overlooked is that there is always someone new who needs to know. Someone new to sell to.
Mindshare Is King
Think fast – name a toothpaste brand.
That’s no coincidence.
Colgate’s parent company Colgate-Palmolive have positioned the Colgate brand as the number 1 name in oral care around the World, with ongoing – yet effective – targeted marketing. In 2021, they spent an estimated 2 billion dollars on ad spend. The result is Colgate taking 45% of global toothpaste sales.
Digital Growth Toothpaste – Use twice a day
“Mindshare – the level of consumer awareness of a product or brand.”
The other obvious effect is that Colgate is the first name you think of when it comes to purchasing toothpaste. That’s what we refer to as ‘mindshare’ – the level of consumer awareness of a product or brand. It’s an unofficial metric of popularity (or, in some cases notoriety).
Colgate is already at the top and well ingrained in all our brains at this point, but they keep on spending the ad money because they understand how far mindshare goes. Besides, they don’t ever want people to start wondering….
…Who Are You Again?
A.K.A. Don’t Let Consumers Forget About You. Although you may feel that business is going well and that you’re well known, it’s important not to rest on the proverbial laurels. Things can change fast, and your competitors aren’t sleeping.
Human beings are also quickly swayed by the ‘next big thing’. Loyalty and advocacy can quickly diminish if consumers feel that their favourite brand is no longer in the public eye.
Give your salespeople a helping hand and support your business with solid digital marketing efforts: a website, social media profiles and ads, email campaigns, etc. Consumers prefer to discover a product via an online search than from a person selling directly to them, so make sure they find your product and not somebody else’s.
With today’s technology at our fingertips, it’s never been easier to reach so many consumers. And of course, if you need help, the Marketing Experts are here for you.