Marketing in the Round: How to Develop an Integrated Marketing Campaign in the Digital Era (Richard Stout's Library) by Gini Dietrich & Geoff Livingston

Author:Gini Dietrich & Geoff Livingston
Language: eng
Format: epub
Publisher: Que Press
Published: 2012-06-19T16:00:00+00:00

Advertising

Nearly everyone understands the benefits of advertising, and the marketing round will be no different. Considered a “must have” for nearly every business, advertising is the cornerstone for brand awareness and image building. While advertising is not any more important than the other top-down approaches, it is tangible and easier for people to understand the efforts behind it than some of other tools.

Advertising provides the three Rs: retain, reduce, and recruit. Through advertising, you retain loyal customers, reduce lost customers, and recruit new customers.

Advertising lets people know you’re in business, promotes sales, and broadens the reach to mass audiences. It also creates a word-of-mouth opportunity. Perhaps customers see an ad promoting a new product or service. They buy it and they tell five of their friends. Suddenly the cost of your ad turned into a return on investment of six purchases.

When in print, advertising has a long life span because of the pass-along phenomenon. Rarely does just one person read a newspaper or magazine. Such items are passed along to friends, family, and even strangers.

As well, businesses that continue advertising, despite the economy, have a competitive edge over businesses that do not. Kellogg’s victory in the cereal wars during the Great Depression is the perfect example of this.2

In the late 1920s, two companies—Kellogg’s and Post—dominated the market for packaged cereal. It was still a relatively new market: Ready-to-eat cereal had been around for decades, but Americans didn’t see it as a real alternative to oatmeal or cream of wheat until the 1920s. So, when the Depression hit, no one knew what would happen to consumer demand. Post did the predictable thing: It reined in expenses and cut back on advertising. But Kellogg’s doubled its ad budget, moved aggressively into radio advertising, and heavily pushed its new cereal, Rice Krispies. (Snap, Crackle, and Pop first appeared in the 1930s.) By 1933, even as the economy cratered, Kellogg’s profits had risen almost 30 percent and it had become what it remains today: the industry’s dominant player.

Because of case studies like this, advertising continues to be one of the best ways to stay top-of-mind when a buyer is making a purchase decision. When it’s combined with PR, social media, point-of-sale, and direct, the touch points are many, and the buyer can think only of your brand.

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