With the present post, I propose to inquire into some advertising tips that may help your brand to collect more conversions. Extended paper on the topic you may also order at Canadian Edubirdy.
Engage both the manufacturer and the retailer in the brand advertising
According to a recent research “When should a retailer invest in brand advertising?”, the authors conclude that: “when the retailer invests in the brand’s reputation, both players [manufacturer and retailer] achieve higher profits and the consumer obtains a higher surplus.”
The researchers compared two scenarios, when a retailer invests in promotion together with the manufacturer and when not. The first scenario showed the higher reputation of a mark, higher price, and higher profits. Even the companies that concentrate on instantaneous profits, although there is a certain period when this first scenario is less beneficial, as time is compensated by higher costs, they gain on the increased demand, driven by the higher reputation and high conversion rate.
Choose a clear advertising message and be creative
According to a research of Priscilla Murphy and Michael.L.Maynard, the consumers named advertising message and creativity as the most significant determinant in evaluating the level of a promotion campaign. Therefore, the more understandable and interesting you are able to express the intentions of your mark through words or visualizations, the more successful and effective your trademark advertising will be. Spend more time to imagine the appeal of your advertising message. Make it humorous, emotional, or even sexy. Make your catchphrase sticky so that it certainly places your product into the mind of a customer.
Carefully select a business advertising media
As Patrick De Pelsmacker and his colleagues showed in their “Media context and advertising effectiveness” research, the commercial, shown in media that are highly regarded by the consumers resulted in a more positive and attractive attitude to the ad. It is important to do the media planning, segmenting and addressing the promo campaigns. This could be a challenging task for a small company. However, it is worth the given efforts. As far as brand publicity substitutes the in- person conversation with your customers, a media planning will help to find the best way to deliver your message to the target audience. Different categories of consumers have different reactions to the variance of commercial context thus choosing a correct media will have an impact on the overall effectiveness of your promo, increasing the conversions.
Conduct market research
It is hard to imagine the company's operation without a powerful tool for market research. It assists in obtaining the latest market trends and reduces risks, connected with decision-making and strategic planning. In the already mentioned work by Murphy and Maynard, the authors show that customers commonly fish for certain facts that help them trust the ad. A market research is among the top three trustworthy factors. Taking this into account, the market research not only provides you with the information on the target customer, market needs and competition or helps to build your business strategy but also results in a higher effectiveness of your advertising agitations.
Consider brand advertising as your investment
As trade mark promotion has an effect on your company that is extended to a later time, it is wiser to consider it your investment rather than expenditure. This carryover effect may not be visible at once when you try to compare how much you are spending on the promotion and how much you are profiting from it. Keeping in mind the following chain, you may stay positive on how to collect conversions. One of the most evident benefits of brand advertising is an increased reputation. The increased reputation in its turn leads to a higher market potential that results in a higher number of conversions and customers buying the product. This addition compensates the negative outcome of a higher price or costs on promotions if you account your branding as a dynamic model.
Focus on your market share and competitiveness
In 1996 Richard W. Pollay and his colleagues were investigating the parameters of advertising sensitivity for adolescents on the example of cigarettes marks. They found a positive relation between realized market share and advertising success. Based on this relationship another research was conducted by Azarnoush Ansari and Arash Riasi. They assumed that the bigger the market share of the company the higher is the efficiency of brand advertising. This assumption was tested, together with some other statements, mentioned in this article, namely advertising message and creativity, market research, uniqueness, customer relationship and media selection, with the path analysis technique. It was proved to be supported with 95 percent confidence that competitive advantage and a large market share helps the enterprise to collect more conversions as it is known by a wider range of customers. Therefore, such company may expect more loyalty when introducing the business branding.
Since the study conducted by William D. Wells and his colleagues in 1971, the uniqueness is still one of the most important aspects that affects customer’s perception of commercials. A unique selling feature that distinguishes your trademark from the others could not be more beneficial for your company. However, in today’s global mass market one can hardly find a truly unique product and/or brand. Actually, the differentiation was taken apart from the brand level. This means that top marks look the same and their customers look the same as well. It is now evident that customers do not need to see the differentiation to choose among the brands and thus, the companies are free from spending their resources exactly on this. What became more important is making your entity distinctive. Distinctiveness is about making your brand being recognizable by the consumer as itself. Think about the elements of your company that are recognizable and that customers associate or may associate solely with you. These could be colors, styles and their combinations, designs, famous people that advertise your brand or stylization symbols. Make these elements your brand assets, highlight them and play with them. Invent a story for your mark. The higher level of prevalence and uniqueness your company has, the more recognition and attachment it receives from the consumers.
Maintain customer relationship
Mary Ellen Gordon and her colleagues conducted research, investigating the relationship marketing. It highlighted a significant role of customer involvement in the production or mark for its effectiveness. This involvement differs by geography and gender, but the higher is its level, the more devoted to your mark the customer is and the more efforts to understand the information from your publicity he or she ready to spend. There are dozens of techniques and tactics to maximize the customer intentness. This is actually the most important aim of the whole brand advertising. Having invested a considerable time on identifying your target customer, now invest double as much on relationships. You may advertise the sensory branding, appealing to consumer's touch, sight, hearing, and taste. Focus on maintaining the existing relations by establishing the loyalty programs, discounts, and rewards. Boost customer's interest through games and quests like collecting points for something or inventing a naming for a new product.
Of course, the list of tips could be extended. The brand-advertising domain is being developed rapidly. If a company is ready to support the innovative ideas for mark advertising, willing to allocate the sufficient financial and other resources to implement and maintain these ideas, in both long and short term it will benefit from the enhanced advertising potency, increased reputation, and more devoted customer involvement.