Why Advertising is Important to The Economy
When we mention advertising, we think of a cheap attempt to grab the attention of people to convince them to buy products and services.
It seems there’s not much more to it, but advertising is actually the match that sparks the flame for our economy.
Without it, there wouldn’t be a desire for people to buy OR sell things. What is the motivation of buying something not being advertised and selling something without advertising it?
It may sound simple, but there are businesses choosing not to advertise or limit it because they feel ‘they don’t have to’. Which ends up hurting your business going against an economy that feeds off of it, to help you feed from it.
Advertising for Business
If you are a business owner, you have a marketing plan. Most do not, but let’s pretend you do if you don’t. It may contain all the possibilities to get your business out there, but why is it important?
There are 30M+ businesses in the U.S alone, most probably sell similar products and services as you. The only way you are going to let people know about your offering is through marketing/advertising.
People make decisions based on information they receive, no matter how small the information may be. Advertising is the perfect way you can relay information to consumers and your potential customers.
Without it there’s no reason why a customer would be motivated to buy from you rather than a different vendor.
The content in your advertisement matters as well, people respond well to distinction. Whether in price, quality, or whatever else.
Let’s say you put two apples together, one green and one red, and showcase them.
Some people will choose green and some red, even though they are both apples!
This example is why advertising is highly effective for all businesses alike.
Advertising for Consumers
We are faced with advertisements throughout the day, in an attempt to influence us to make a purchase to help stimulate our economy through business.
It gets to a point where we don’t even realize we are looking at ads, which can become annoying afterwhile.
In general, despite popular belief, we like viewing advertisements because they provide us with information. Information in the right context is useful and can influence us to act on an ad.
Ads in the wrong context get looked over and forgotten by us.
Context can be something as simple as a platform you choose to advertise on/with.
Effects on Economy (supply and demand)
When you have companies advertising for business, it drives supply and demand via competition.
Again, advertising is what motivates people to buy products and services.
There’s no coincidence why companies with huge marketing budgets have the most influence in society.
These are large companies that are constantly in people’s faces providing information to act on, consistently.
They understand that people are currency and that as long as they have them they will always have money.
Small vs Big Business
Small businesses don’t have the budget to compete with the larger companies, which causes some to be ‘stomped’.
Compared to their counterparts they have less recognition and traffic, all of which advertising helps with.
But what they have that large organizations don’t as much is, customer loyalty. Their customers seem to be more connected to their business. That’s because their products and services hit closer to home than those from corporate giants.
BAU
BAU is for small businesses to advertise better. It is a social networking platform to advertise organically and make marketing easy for one another.
It allows businesses to get engagement and eyes without the huge budget by allowing them to pay other businesses alike to advertise, instead of expensive networks.
Small businesses, collectively, already have the target audience and existing customer relationships as Facebook, Google, Yelp, etc.
BAU helps them monetize their audience in an easy and effective way, for the sake of ROI.
So not only are you paying to advertise you can also get paid to advertise from other businesses, creating a community that feeds off of each other.
BAU is preparing to launch so learn more here www.joinbau.com/about
Advertising is changing
Advertising is moving fast, especially with developments in A.I. New technologies may or may not be beneficial to your business, but it’s important to be aware of them.
Advertising is the fuel to the engine that drives business forward. These technologies and strategies are supposed to help make the POS easier to obtain for your business and the economy.
Take advantage of the options available to make them all work for you, as they advance business and America further.
