Advertising has evolved to be the most important marketing tool for organizations to launch their products in the market. With the print and electronic media becoming an integral part of a layman's life, advertising has assumed a crucial role in the success of new products.
There is fierce competition in the market, so better the advertising strategies, higher the chances of success. Customers are kings, and once they love a product, it's sure to become a brand. Starting from soft drinks, to shampoos or luxury cars, advertising can create a world of difference in the future prospects of a product and the company.
The magic of advertising campaigns is such that products just don't remain things, they move on to become brands or entities in the eyes of consumers. The jingles become popular among the masses and you can hear people humming the jingles very often.
Elements of a Successful Advertising Campaign
The importance of advertising in today's business environment is undoubtedly immense. No firm can sit back and watch their competitors take over the market. The right time to launch a product is an essential factor to decide the fate of a new launch. Marketing strategies govern the success of products and advertising forms the subset of a marketing plan.
Importance of Market Research
In the quest to maximize profits and ensure that the advertisements are able to garner huge profits, the marketing teams and ad agencies focus on market research. Knowing about the target audience and understanding their needs, help marketing teams to set their sales goal in a more organized manner.
Market research also helps in the launch of a product as per the requirements of the market. To thrive in a competitive market by surpassing competitors, effective market research is required. So by analyzing various parameters, firms can come up with better decisions and options.
Marketing Mix Strategy
A vital part of an effective advertising campaign is to adopt the method of marketing mix strategy during the planning phase, and implementing at the right time in an ordered manner. Marketing mix involves considering various elements of marketing, like product, price, promotion, and place.
While product, price, and promotion are easier to understand, place refers to the logistics and transportation costs of goods. Marketing teams and advertising agencies make use of the variables of marketing mix for the success of a product.
There are several tips to focus on in the advertising field.
- Focus on human behavior and things that drive consumers to purchase a particular kind of product.
- Work as a team, because being a creative field, the entire team needs to work on the ideas and innovations.
- Don't give wrong information to customers about the products. Be true to your customers.
- Study about the popular advertisements and research on the methods they have adopted to establish the product in the market. Take ideas, and as far as possible, come up with your own creative method of advertising.
- Adopt various types of advertising techniques and keep an eye on the one which works best.
- Make the headlines and catchy phrases smart enough to grab attention. Remember AIDA (Attention, Interest, Desire, Action).
- Since advertising is expensive, focus on your USP (Unique Selling Proposition), and aim to hit the bullseye.
- Chalk out the promotion methods that include various types of advertising.
Some of the best ad campaigns, like that of Volkswagen, 'Think Small' by Doyle Dane Bernbach in 1959, Absolut Vodka, The Absolut Bottle, TBWA in 1981, and 7 UP, 'The Uncola' by J. Walter Thompson in the 1970s, are still remembered for their popularity. The hallmark of famous ad campagins is creativity driven by an excellent marketing plan.