Marketing is one of the most competitive aspects of business. Due to the high volume of advertisements consumers see every day, it’s often difficult for companies to increase their brand visibility. Jay Walker-Smith, former president of a marketing firm, told CBS News that the average person is exposed to 5,000 advertisements per day. Walker-Smith also stated that consumers saw approximately 500 ads on a daily basis in the 1970′s.
“It seems like the goal of most marketers and advertisers nowadays is to cover every blank space with some kind of brand logo or a promotion or an advertisement,” he said.
Small businesses have to create highly targeted marketing campaigns and use lasting advertisements like unique promotional products to stay ahead of the curve and avoid being lost in the shuffle.
Targeting the right prospects
Small businesses don’t have the same resources as large chains. Some corporations take a broad approach and attempt to reach out to as many consumers as possible. The strategy can be effective because the companies can afford to attempt to convert unlikely leads into customers.
Independent entrepreneurs should be more frugal when it comes to their marketing efforts. Highly targeted advertisements are more cost-beneficial than their broad counterparts. Small business owners should research their customers’ demographics and look for leads with similar traits.
Additionally, businesses can’t forget about their loyal patrons. It’s typically cheaper to retain clients than it is to find new prospects. Companies should develop special promotions for their regular customers. Tools like unique discounts and personalized business gifts help establishments hold on to their clients.
Entrepreneur Magazine writes that the old maxim “out of sight, out of mind” holds true in the world of marketing. When businesses stop distributing advertisements, consumers quickly move on and forget about the companies. Unfortunately, entrepreneurs can’t simply produce new ads to maintain their visibility. People develop negative impressions of businesses that create an overwhelming number of marketing messages.
The best solution is to use materials that customers are interested in keeping for extended periods of time. Direct mail and email are quickly discarded and commercials only last a few seconds, but promotional marketing products have extended shelf lives.
Consumers usually keep branded items for months, but functionality can increase retention rates. The Promotional Products Association International (PPAI) found that usefulness is the main reason that customers keep promotional items. Small business owners can capitalize on the PPAI’s findings by distributing products like pens and calendars so that their companies are never forgotten.