Bob and Henry are sitting next to each other on an airplane. They start to chat and Bob finds out that Henry is the head of marketing for Juicy Fruit gum. Bob asks why Henry does so much advertising. He sees the ads everywhere. Surely, the gum is so well known now that advertising is a waste of money. Henry explains with a question. This plane is cruising at 550 miles an hour, 30,000 feet in the air; but, what do you think would happen if the pilot turned off the engines?
We all know the answer but still question the value of advertising when business is soaring, so here are five good reasons to advertise when you don’t think you need to.
- You Can Afford to Invest – Investing when things are going well, means things will continue to go well – you’ll have enough revenue to keep advertising and keep revenue high. That’s a great cycle to be in. If you wait until times are tough before you start advertising, it’s hard to find the cash, and you have to start building awareness all over again.
- Conversion Timeline – Following on #1, customers don’t buy from you after seeing one ad. The adage is seven impressions to make an impact. So, waiting to advertise means a long period of nothingness before the ads start to pay off. Very few businesses can afford a long period of nothingness.
- Top of Mind – Even customers who know your brand and products will forget about you if they aren’t reminded pretty regularly. There are always new competitor and product ads that are trying to steal your clients. You need to remind your customers of why you should still be their top choice.
- New Customers – There is never a bad time to increase your customer base; and as well known as you think you are, there are always new customers to be had. Your ads also increase the effectiveness of word-of-mouth referrals, search engine results, and other forms of awareness.
- Brand Loyalty – More than ever, what you stand for is important to building and maintaining brand loyalty. When business is going well, you can use some of your ad spend to tell your audience more about your brand’s values, your efforts at inclusion, environmental stewardship, and other ways that you are supporting your customer community.
So, don’t turn off the engines! Give us a call and keep your business soaring.