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How To Decide Your Advertising Model Of The Business?

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Every new business struggles with finding new customers, increasing brand awareness, generating leads, amongst other things. Some of these challenges are easy to overcome, while others harder. That is where the need for advertising arises.

Businesses looking to boost their earnings and grow their customer base must invest in Advertising. Besides boosting sales, it also helps increase the visibility of a Business amongst customers and industry members.

Now we understand that successfully convincing people to buy your product or service might seem like a lot of work. However, there’s some science behind the art of persuasion that is Advertising.

For persuading customers correctly, every business needs a vigorous advertising model and the right mix of advertising media.

What is an Advertising Model?

The strategic use of advertising mediums is known as an advertising model. The goal behind using such a model is to reach a specific audience. These act as blueprints to help advertisers create persuasive ads, be it Print, Digital, or TV.

The vehicle on which advertising models gets placed is the Advertising Medium. To determine the right model and medium for any business, the owners must understand their target audience. Moreover, it’s essential to understand the pros and cons of every advertising medium.

Let’s understand the types of advertising media that business owners can use.

Types of Advertising Media

Several types of advertising media can be used for a successful marketing campaign. Here are some of them.

1. Print Advertising

Print advertising is one of the oldest media of advertising. It is known for its extensive reach and suitability for, copy expansive advertisements. Some of the popular forms of Print Advertising include:

  • Newspaper Advertising

Among other types of print advertisements, this one has the highest reach. Moreover, it is also an economical option. Businesses looking to target a niche audience can use regional variants of the same.

  • Magazine Advertising

As advertisements get targeted to the right audience, this form of advertising has a high conversion rate. Like Newspaper Advertising, these can also be used for targeting a niche audience.

  • Brochures & Fliers

Brochures are mostly used to educate an audience about a specific product or service. Both Brochures and Fliers are handy options and can be useful to local businesses.

2. Broadcast Advertising

The reason for increased returns on Broadcast Advertising is the advancement in technology. This type of Advertising has audio-visual mediums like Television, Radio, and more.

As visual storytelling is more impactful than its textual counterpart, Broadcast Advertising can do wonders for brands. However, it is also a slightly expensive advertising medium. Some of the famous broadcast mediums of advertising are as follows:

  • Television Advertising

The main goal behind TV Advertising is brand building by creating awareness. Although it involves a lot of money and time, this form of advertising can prove to be extremely beneficial for a business due to its vast reach.

  • Radio Advertising

This form of advertising can even reach the audience that cannot read, write, or see. Moreover, in terms of Return on Investment, these are pretty economical. Radio Ads are famous for their recall value. These can be used to target both local audiences and national audiences.

3. Outdoor Advertising

If used creatively and with caution, outdoor advertising can prove to be immensely successful. Compared to other types of advertising mediums, it is slightly economical.

Businesses can place fixed advertisements in locations that are most visible to their target audience. It comes in the following forms:

  • Banners
  • Hoardings
  • Automobiles
  • Guerrilla marketing techniques
  • Flags
  • Events and sponsorship

4. Digital Advertising

One of the most impactful mediums of advertising in today’s day and age is Digital Advertising. It includes advertisements posted on the internet or other smart devices.

This form of advertising allows businesses to target audiences accurately using the available data. Moreover, it also allows them to engage and interact with their audiences. Some popularly used digital advertising forms include:

  • Social Media Ads
  • Email Marketing
  • Display Ads
  • SEO

Before choosing an advertising media, take note of the advantages and limitations mentioned above. In addition to that, understand which medium would work best with your target audience.

Choosing the Right Advertising Model for Your Business

Here are a few things businesses should consider before going all out with an advertising strategy.

1. Keep an eye on your competitors

Before finalising an advertising model and media, researching your competition might help. It wouldn’t guarantee success but provide you with a starting point. So keep a tab on their promotional activities and take notes.

2. Understand your target audience

Different individuals are found on different platforms. You need to figure out the best way to target your audience. For instance, if you’re a car seller, you can use weekly newspapers or Facebook Ads.

3. Analyse the nature of your market

Another vital consideration is of the market’s nature. Every product has a different market, and every market’s advertising techniques are unique.

From the size of the population, geographical conditions, purchasing power, and more, various factors determine what’d work best. So before finalising a model you’d like to go ahead with, analyse the nature of your market.

4. Understand your marketing objective

There can be numerous reasons for advertising. Figure out your reason for the same. It could be the launch of a new product or increasing the sale of an old one. If you want to have a long term impact, several advertising tools and models should be used.

5. Keep your budget in mind

Every advertising media and model comes with its own cost. That is why it’s essential to finalise a budget for the same. Your cost consideration will dictate what medium or combination you choose.

6. Measure the flexibility

The reason measuring flexibility is essential is that it allows businesses to understand the ease with which a model or medium can be modified.

For instance, it is comparatively difficult to make alterations in Television and Radio. Banners, on the other hand, can be easily changed.

7. Understand the durability

Many businesses want their advertisements to be durable. Understanding which medium will provide you with how much durability is essential.

Advertising Models that Every Business Should Consider

Here are a few advertising models that businesses can use to target their audience effectively.

1. AIDA Model

AIDA stands for:

  • Awareness - Creating awareness about the brand.
  • Interest - Generating interest to encourage the buyer.
  • Desire - Using techniques to ensure the customers start wanting the product.
  • Action - Help the customers in making the next step.

It identifies the stages a customer goes through before making a purchase. Many businesses apply this advertising model subconsciously.

2. DAGMAR Model

DAGMAR takes the AIDA a step forward by emphasising the need for goal setting. First and foremost, you need to plan what you want to achieve and the ways to measure if the goal gets accomplished or not. It stands for Defining Advertising Goals for Measured Advertising Results. The four steps include:

  • Awareness - To improve the awareness of the product in the customers’ eyes.
  • Comprehension - To provide information on the brand features to the customers.
  • Conviction - To convince the customers about a product and its superiority to other products.
  • Action - To motivate customers to buy the product.

3. DRIP Model

It stands for:

  • Differentiate - Differentiating the product or service.
  • Reinforce - Reinforcing the brand’s message.
  • Inform - Informing and educating customers about the brand’s features.
  • Persuade - encourage purchase-related behaviour in customers.

4. ATRN Model

Also known as the Ehrenburg model, it stands for:

  • Awareness: Letting customers know about your brand.
  • Trial: Rather than persuasion, curiosity can lead to a trial of the product.
  • Reinforcement: Providing reassurance about the brand.
  • Nudging: Reminding and reinforcing to make a sale.

Conclusion

There’s no one right model or medium for efficient advertising. Ultimately it boils down to factors like your marketing objective, budget, what works in your industry, your competitors’ advertising strategy, amongst other things.

Businesses should plan an advertising strategy that has a mix of numerous models and mediums for reaching their desired audiences.

However, when things aren’t working in your favour, it’s vital to take a step back, understand the pain points, and rethink your strategies.

Try to test a variety of different mediums and models to see what works best for your business. Also, in today’s day and age, it’s always beneficial to experiment.

So, even if things are going smoothly for your business, test other models or approaches with little money. With advertising, it’s always best to keep reinventing.

Also Read:

1) Franchises: What Differentiates them from Businesses "From Scratch"?
2) Impact of Globalisation on Small Scale Industries
3) How Are Small Local Businesses Transforming Into Widely Recognised Brands?
4) OkCredit: All you need to know about OkCredit & how it works.