Advertisement is an investment and not just an expense.
Some people see advertisement cost as an expense which can be done away with in business. Advertisement is not only important at the launch of a new business. If you want your business to continue to grow, you should not stop advertising. If a business is experiencing low revenue, there is tendency for the owner to look at possible ways to curtail the business expenses. This is logical indeed. But the type of expenses you cut or do away with will determine whether you will be able to survive the business downturn. Any money you spend on advertisement should be seen as an investment and not just an expense. The only reason advertisement cost can be reduced to a mere expense is when you are not strategic in your marketing efforts. It is not good to throw money around in the name of advertisement.
Your advertisement should be a part of your marketing strategy. However, if your advertisement is not yielding any return or the return on your advertisement costs is not justifiable, you may need to review your marketing strategy. Don’t make the mistake of stopping advertising your goods or services. If you do, it may be the beginning of another downward trend.
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Perhaps you don’t see any reason in advertising what you sell. Fine! But it is just a matter of time, you will soon see your competitors overtake you. One of the effective ways of advertising nowadays is online advertisement. If you don’t believe this, I will ask you this question. How did you get to this website? Of course, it may not be through paid advertisement. But I want you to know that organic search which is free is part of online advertisement. Before you are able to locate this website, the process did not start today. Certain investment, no matter how small it may be, has gone into it. Therefore, whether you are seeking for small business ideas or you have already started your own business, advertisement will play a crucial role in the growth of your business. If you have been following my articles, you must have read about how just $100 investment turbocharged my revenue. To further reinforce my point, let me quote this statement I came across in a devotional booklet entitled “Our Daily Manna”. According to the writer, he said that the statement was designed to stir strong advertisement fire in the industry. Therefore, the statement might not originate from him. I will like to say that the original source is also acknowledged. This is the statement:
“A man wakes up in the morning, after sleeping on an advertised bed, in advertised pyjamas, he brushes with advertised toothpaste, washes with advertised soap, shaves with advertised razor, has breakfast on advertised orange juice, cereal, and toast, sips his advertised coffee, puts on advertised clothes, advertised shoes and glances at his advertised watch. He will ride to work in an advertised car, sits in an advertised desk, and write with an advertised pen, on an advertised pad. Yet this man hesitates to advertise, saying that advertising does not pay. Finally, when his unadvertised business goes under, he will advertise it for sale”.
That is just a simple truth. If everybody is advertising and you refuse to advertise your own business, your business may soon fold up. It will be unfortunate if the only advertisement you will make is when you advertise that your business is for sale. This is a word of wisdom.
I need to say it again that advertising does not need to be expensive before it can be effective. A little amount of money spent advertising your products or services in a consistent manner will have more impact than a one time huge investment on advertisement. When it comes to advertisement, consistency is very key.