Why Branding & Advertising is Important For Your Business
Customer is King and rightly so! Knowing what a customer wants is crucial for any business to flourish. Without consumer insights and feedback, any business will begin but never grow. Marketing & Advertising help achieve that and much more. Marketing is the process of identifying customer needs and determining how best to meet them, whereas advertising is the exercise of promoting a company and its products or services through paid channels. In other words, advertising is a component of marketing. Although marketing is a broader term for advertising, it is quintessentially like two sides of the same coin. Marketing tells a story whereas advertising sells that story!
According to the latest report by IMARC Group, Global Advertising Market is estimated to reach US$ 769.9 Billion by 2024. .
Many businesses are now devoting considerable amount of resources towards marketing and advertising of their brand. This trend denotes a change in mindset of business owners regarding the urgency of quality brand engagement with the consumers. There’s no sale without need. Marketing’s agenda is to create a stir in the market about the new product. Advertising’s agenda is to make consumer feel that they need that product in order to enhance their lifestyle. This lethal combination of story and need is what drives the sale home, and in turn, revenue skyrockets.
Marketing helps spread the word about your brand and why a customer should invest in your brand. There are many subtle ways advertising and marketing can boost your sales.
1. Information & Engagement
Any brand story that speaks directly to the customer’s heart is a successful story. Marketing and advertising channels inform consumers about your brand and engages them with interesting information about your brand. Without outreach, your brand will only sit pretty on a shelf. Advertising helps in getting it picked up time and again.
2. Reputation Build-up
It is vital to deliver quality product consistently. Marketing helps you reach that stage where your good reputation precedes you. With various advertising channels available to tell your brand story, it becomes easy to receive feedback from consumers to better your brand and stay on top of the favorites list. Strong and professional marketing of your brand will assure consumers about your brand’s genuineness.
3. Generate Revenue Options
With right marketing tools in your arsenal, it opens up a wide range of possibilities to grow your business even bigger. With more customers comes more revenue options. This empowers budding brands to enter new avenues of marketing channels and spread word about their business. Doing this will put them in a position to choose their revenue streams and discard low output nodes.
4. Identify Competitors
With great power of marketing, comes great responsibility of self-sustainability. Advertising and marketing help you to learn more about what your competition brand is doing and how you can beat them by improving your product. It also allows you to learn how your brand is faring in the market in comparison to other brands in the same segment. This feedback is an effective way of winning over your consumers by becoming a brand that they need and not a brand that you want it to be.
5. Boost Sales
Lastly, marketing does what it always does best- it sells! Without relevant channels of advertising and marketing, your brand will be stagnant. Marketing keeps it evolving, advertising keeps it important. This mechanism generates sales which makes the management happy!
Marketing and Advertising are two of the most important tools in a brand’s toolkit. Be it a budding brand or a consumer favorite, without proper usage of consumer reach, a brand’s growth is thwarted. Advertising keeps awareness and awareness generates revenues. Higher the revenues, better the employee morale. When a company sees that their product is doing good, it motivates them to work even harder to put their best brand forward. Positive marketing is positive feedback!
We, at TCW are well versed with marketing and advertising fundamentals that can elevate your brand status. We offer tailor-made services to make your home’s brand a homely brand.