Advertising has come a long way since its inception: from physical outlets such as newspapers and storefronts, to becoming a digitalised one. In today’s society where the majority of people spend a large amount of time glued to their computer screens or smartphones, marketers and businesses are spending more money to spread their brand awareness through them.
The online form of advertising (also known as digital advertising) comes in many forms: email marketing, banner advertisements on websites, search engine optimisation (SEO), referral marketing, online classified advertising, and even social media platforms such as Facebook, Instagram, Twitter, etc. The aim is to deliver promotional content through as many channels as possible. Depending on the scale, digital advertising is fast becoming a rising trend as the cost of it may be comparatively lower compared to outdoor advertising.
Another form of advertising would include outdoor advertising. This happens when consumers are outside of their home and notices an advertisement being placed. This can take place in the form of: phone boxes, bus shelters, trains, billboards, shopping centres, cinemas, taxis, 6 sheets, signages, giving out flyers, etc. The cost of outdoor advertising will be comparatively higher than digital advertising and it will be even higher if there is a huge influx of people in an area.
Digital advertising vs Outdoor advertising
There are pros and cons to each advertising channel, but you will have to consider the industry that your business is in before committing to a method. For example, if you are running a money-lending business, it will be probable to either advertise it online or outdoors to have more ‘eyes’ on your service.
Why should you advertise?
Advertising your business through the many channels available helps to bring more awareness towards your brand and products. Without advertising, lesser consumers will know about your brand, which translates into a lower business potential. There might be some initial costs, but weigh the benefits against the disadvantages and you will find that it really helps to advertise, because hoping to expand your business through word-of-mouth just does not cut it.
What constitutes an effective advertising method? Simply put, it is a successful one if the funds that you have spent on advertising brings in more clients, which translates into higher profit margins. But what about the effort that goes into a campaign? To create a successful outdoor advertising campaign, the advertising company has to work closely with their own marketing team, graphic designers, and the relevant authorities to ensure compliance before they can start setting up advertisements in public spaces.
Advertising can be a double-edged sword for your business. If it is not done properly, it can cost you a huge sum of money, and yet fail to deliver the desired results. It might seem cheaper, but doing it on your own can be a risky factor if you are not sure of the process and how to achieve it. When done in the right way, it can bring about a steady stream of clients right to your doorsteps.