No matter which stage your business is in, advertising follows four steps, according to the industry mnemonic, “AIDA: Awareness, Interest, Desire, Action.”
Your job is to make prospective customers aware that your product or service exists, pique their interest in what your product or service can do for them, make them want to try your product or service, and finally take action, by asking for more information or actually buying the product.
Definition: To call the public’s attention to your business, usually for the purpose of selling products or services, through various forms of media, such as print or broadcast notices.
Advertising provides a direct line of communication to your existing and prospective customers about your product or service.
Your advertising goals should be established in your business plan.
For example, you may want to obtain a certain percentage of growth in sales, generate more inquiries for sales, or build in-store traffic. The desired result can simply be increasing name recognition or modifying the image you’re projecting. Objectives vary depending on the industry and market you’re in.
Definition: The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products .
An effective brand strategy gives you a major edge in increasingly competitive markets.
Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.
Are you the innovative maverick in your industry? Or the experienced, reliable one? Is your product the high-cost, high-quality option, or the low-cost, high-value option? You can’t be both, and you can’t be all things to all people. Who you are should be based to some extent on who your target customers want and need you to be.
The foundation of your brand is your logo. Your website, packaging and promotional materials–all of which should integrate your logo–communicate your brand.