While it is relatively easy to start a small business, making it competitive is something very different. This is especially true if you are about to introduce a new service or product to the market. But that is why advertising agencies exist. They help small business owners to take the next step and put their product or service to the test. So, if you have been tinkering with the idea of running an advertising campaign, it is recommended to consult with a professional agency before putting down any money.
This modest guide is going to explore the 7 major functions of an advertising agency in 2020. It will also look at advertising trends agencies can use to their advantage next year. But let’s start with some small steps and define advertising before getting into the good stuff.
Define Advertising
It is very common for new business owners to confuse advertising with marketing. And yes, they do share many common fundamentals. However, they also share a distinct difference. For the most part, advertising is considered a component of marketing. And where marketing is mainly focused on the research behind target markets and campaigns, advertising is the execution part. In other words, an advertising campaign will have a product ready and available to show the people.
You should also know that there are different advertising agencies available. For example, some agencies specialize in television and radio, while others are better at print or digital media. That means you should take some time to research the advertising agency you ultimately consult with if you have a specific option in mind.
In terms of what an advertising agency does and how it benefits your small business, a list of the 7 major functions has been provided. And when you reach the end of the last function, the purpose of an advertising agency should be very clear.
7 Major Functions Of An Advertising Agency
1. Advertising Agencies Create Significant Exposure
The primary purpose of an advertising agency is to put your product or service in front of consumers. And as mentioned, there are many ways they can do this. But everything depends on variables, like your budget, your business model, and the consumers you should be targeting.
But to give you an example, promotion campaigns can be based on digital platforms. This will include social media, search engines, content creation, or even streaming videos and animation. Then there are print and display media channels like magazines and trade shows where booths can be set up. Of course, television and radio remain heavy-hitters, but they tend to be expensive. Plus, they are not as effective when compared to digital advertising campaigns where quick interaction can take place.
2. To Introduce A New Product Or Service To The Market
Even if you are not selling a product or service that is totally unique, you should aim to educate consumers. And you want to educate them on what makes your specific product or service special. Unfortunately, coming up with a creative approach that will stir excitement is challenging with no experience. Additionally, you risk wasting money.
Approaching a professional advertising agency means tapping into their expertise. And instead of trying to master effective advertising campaigns, you can put your attention towards more important things, like running your business. Let the experts worry about the best ways to bring your product or service to the market.
3. Brainstorm/Execute Promotions And Campaigns Based On Current Trends
In order for any advertising campaign to be effective and draw customers, it needs to be based on current trends. What are consumers searching for and what gets them clicking? This is one of the many sections where advertising and marketing meet because you have to understand your consumer before you start advertising. Otherwise, you are turning a calculated risk into a pure gamble.
But this is what advertising agencies are there for. They take the lead on where the promotions are likely to work best, as well as how to plan ahead in terms of monitoring campaign performance. That’s right, campaigns should be monitored and tested if you want to see how well they perform.
4. Help To Establish Your Brand
The rapid increase in advertising options has made it somewhat mandatory to establish a brand. It is not excluded to the rich and powerful anymore, thanks to developments like digital marketing. But this also means you have to put in the extra effort if you want your small business to survive a challenging economy.
Coming up with the right logo and slogan are made easier with the advice of an advertising agency. Depending on the extent of the services offered by the agency, these are people that can help to create the perfect brand for your business.
5. How To Increase ROI
You are not going to have more success with advertising by simply throwing money at it. In fact, you are bound to run out of money if your advertising campaigns are not stimulating sales or attention. Hence the reason for striking a good balance between what you put into your campaign, and what you get out of the deal.
For example, if you have a targeted campaign, you spend less to advertise to consumers that are more likely to spend money. But this is something you can discuss with the advertising agency, seeing as they can help to work out a sustainable budget that actually brings business to your door.
6. The Ability To Target Multiple Platforms
When it comes to advertising, the last thing you want to do is limit yourself. In other words, you want to use several channels that complement each other and maximize the reach of the campaign. Remember, not all your customers are spending time on YouTube. Some still prefer watching television.
The great thing about an advertising agency is that they can run promotions and campaigns through many channels at once. But take note that advertising agencies specialize in different areas.
7. Stay Up To Date With The Most Effective Advertising Strategies
Advertising strategies are bound to change, just like trends. That means you want to work with an advertising agency that doesn’t get stuck in conventional approaches. Not when digital channels are expanding as quickly as they are. So always make sure the advertising campaigns get updated according to what is popular and working right now.
Strategies Advertising Agencies Should Consider For 2020
To give business owners and advertising agencies some advice on what is bound to be popular next year, here are some strategies to keep in mind.
Establish The Brand Through Personalization
As mentioned earlier, branding is a major part of finding success and keeping consumers coming back. But there are different methods of reaching this goal. And a strategy that will definitely be effective for advertising in 2020 is based on personalization.
Platforms like Amazon and Google have proven that personalization is the way to keep consumers happy. And just like branding, it has reached a point where consumers expect a personalized experience.
Private Messaging Apps
While building an email list is still very effective, you can expect more advertisers to turn to private app messaging services. Platforms like Whatsapp are clearly changing the way consumers stay in touch with just about everything. Given that it’s becoming so much easier to make payments with smartphones, the experimentation to monetize private messaging app is moving along, and next year will most likely introduce this as an option for advertising.
Be Transparent
The fact is consumers like companies that are transparent. In other words, there is no confusion about what the business is offering. And there are no catches involved after the money has been spent. Research suggests that transparent businesses have a much better chance of retaining customers. But this also means the advertising campaign has to created according to the same transparency.
Dominate Search Engines
There is no question that search engines are in charge of what people find online. Additionally, search engines have a lot of influence. For example, websites that rank on the first page will get the most organic traffic. Hence the reason why advertising agencies should invest more in strategies based on dominating search engines. As digital advertising and marketing grow in popularity, it is crucial to pay attention to where you can find a big audience. Well, it doesn’t get bigger or better than through a search engine.
Start By Taking Those First Few Steps
The truth is nobody can guarantee anything in terms of advertising or marketing. You can only get estimations of what a campaign can potentially deliver. But if you work with an advertising agency that has enough experience and creativity, you have a much better chance of reaching your advertising goals.
So, when it comes down to it, there are more than enough good reasons to consult with an advertising agency. At the same time, agencies should take note of the trends leading into next year. Because the quicker you can master them, the quicker you can capitalize on your campaigns.
