There are many myths out there about advertising. We can’t dispel them all but we can take on 5 of the biggest.
- One rather persistent myth is “advertising doesn’t work.” That’s like saying diets don’t work. People lose weight on diets every day. Diets work when they are followed. People who say they don’t should be saying, “This diet didn’t work for me.” Major brands spend billions on advertising. If it didn’t work, they wouldn’t. Advertising works wonders when done right.
- Here’s a two-part myth that can cost business owners a ton of money; I don’t advertise and we have enough business. Businesses often say they don’t advertise but they don’t keep their business a secret either. They tell people about it. They have a sign. They have a website. Their address and phone number are listed. Customers may mention them in posts. All of these things are forms of advertising. All advertising is word of mouth, it’s just a question of whether you want to whisper or shout.
The second half of that myth “We have enough business,” is the kind of statement that eventually puts you out of business. People move in an out of cities, new competition opens, and technology is in a constant state of flux. To meet the needs of a changing marketplace you have to evolve and grow. Advertising fuels both. If all you do is maintain a customer base you will have to raise prices or cut costs just to keep up with inflation. When it comes to business, less is never more.
- “Advertising is too expensive.” We’ve worked with significant budgets and stretched small ones. That said it’s also true that a $500 dollar a month advertising budget can be more expensive than a $5,000 per month budget. The larger budget could be producing enough revenue to pay for itself and generate significant profit. That’s an investment. If the smaller budget is garnering little or no response it is quite expensive.
- Traditional media is going extinct. Myth. Television reaches 88% of adults in the U.S. each week. Radio reaches 93%. We often recommend both, but we also help companies make the most of their digital efforts and social media. The best campaigns are a mix of media. Embrace the new but don’t overlook the tried and true.
- “Advertising is the same as Public Relations.” Let’s bust this major myth. Both fall under the umbrella of Marketing and there are some similar skillsets involved, but they are not the same. Advertising is paid for and your message is guaranteed. It’s your opportunity to tell your story the way youwant to. Advertising is a one-sided conversation and you get to be the only one talking. No one can edit or spin what you say. PR is often referred to as “earned” media; it’s compelling because you don’t pay for it. You can sometimes convince media outlets to do a story that features your business but, generally speaking, you won’t have any control over content or editing. No one can or will guarantee that the story will be used.
That’s five down and a long list of myths to go.