5 Mistakes your business may be having regarding advertising in Vancouver
Today’s Advertising in Vancouver professionals often lose focus and their way in the quest to achieve results for their companies.
Here we’ve listed 5 mistakes your Advertising in Vancouver department may be making.
1) NOT ACKOWLEDGING SOCIAL VALUE
Many companies spend big money primarily on assurance-related expenses. However, an increasingly common practice from profit-oriented companies is to link their products to social causes.
Investing only in promotional actions may end up becoming a wasted opportunity–especially since 92% of people have a positive image of companies that support important social causes.
Four out of five people interviewed in a survey, said they would choose a brand that supports a social case if the price and quality of two brands were the same.
2) CONSUMER BEHAVIOR
Nowadays, communication and advertising go through a period of aggressive promotional offers and a lack of care regarding company image–focusing only on the sale of products/services.
However, what many marketers forget about is to understand consumer behavior. Individual consumption is guided by the motivation to fulfill necessities–organizing its needs into a hierarchy of priorities: physiological, safety, social, prestige or self-realization. Therefore, in order for your brand and product to be well ranked on potential customers’ priority lists, you need to communicate the value of your offering in such a way that leaves a lasting impression in people’s minds.
After all, a consumer’s decision to buy an item is strongly based on their attitudes about a product or service.
3) NOT FULLY APPRECIATING CUSTOMER LOYALTY
Customer loyalty is the Marketing keyword of the 21st century. But many marketers are so desperate to get new clients that they end up forgetting their gold mine is present in their current client portfolio. Current customers can reach 80% of a company’s invoice.
If your company is far from this number, one of the strategies that you must take immediately is to re-examine your current clients and go over their needs. After all, customers who already buy from you are much more likely to buy again and in higher quantities than a prospect who has never spent money with you.
In summary, the amount of money spent on advertising to earn new customers can be optimized to increase your earnings with current customers.
4) NOT HAVING A COMPANY MISSION
It is very common to see companies out there without a well-defined mission for its employees and customers.
Any business planning begins with a clearly-defined mission. So, having one well-defined is essential. A surprising number organizations fail to appreciate how important and relatively simple it is to put together a company mission. An effective mission must be brief enough to fit on a T-shirt.
5) OVERLOOKING THE IMPORTANCE OF A MARKETING AND ADVERTISING PLAN
Another big mistake many organizations make is not having a marketing plan or an Advertising plan. Marketing planning consolidates all activities aimed to achieve communications, branding, sales, etc goals–thus making up a marketing strategy.
In a nutshell, you need to have well defined goals pertaining to what you want to achieve and avoid. The answers to related questions sound subjective but they’re actually objective. How do you plan to achieve the results you want? The answer is strategy.
If your company does not have a marketing or advertising plan and you need some guidance, you can see more in our article “How to Start an Efficient Marketing Plan.”
If you need more information regarding Advertising in Vancouver, take no time and get in touch with us.
