Nigeria Business Advertising Guide – Advert prices
Do you own a business in Nigeria? Do you advertise? If you don’t you are missing out on sales.
Advertising is very important, some say it is the nervous system of any business. That is why Coca-Cola, Pepsi, microsoft, Apple still spends millions advertising yearly.
Think about it, these companies are very popular yet they spend millions of every year advertising same or similar products.
If you are a new business, advertising is a must. Without it, how will people know of your product or services. Advertising is a proven and tested method of selling your products and services across to your target audience. Advertising is not limited to new companies only but equally important to old or relatively new businesses.
Existing companies can use advertising to get across new product, information, promotion to the general public and also refresh the mind of their existing customers.
There is a Popular saying – “Out of sight is out of mind.”
The more people see your product daily, the more it stick to their consciousness – this is DEEP
Advertising to the right audience
This is critical, advertising to the wrong audience is like throwing money in a well. A bit of research is important to identify where to find your target audience.
Human ability to concentrate is falling drastically. It is important when people see your advert message, they can quickly identify the benefits of your product or services to them. Your message should be clear and easy to understand. Where possible it should include pricing, contact information, after sale service, guarantee (e.g money back guarantee). All information provided must be accurate and unambiguous.
WORLD BIGGEST ADS SPENDERS 2015 – source UK business Insider
1. PROCTER & GAMBLE. Ad spend down 4.2% to $4.6 billion.
2. AT&T. Ad spend up 0.1% to $3.3 billion.
3. GENERAL MOTORS COMPANY. Ad spend down 0.7% to $3.1 billion.
4. COMCAST CORPORATION. Ad spend down 1.7% to $3 billion.
5. VERIZON COMMUNICATIONS. Ad spend up 3.6% to $2.5 billion.
6. FORD MOTOR COMPANY. Ad spend down 3.6% to $2.5 billion.
7. AMERICAN EXPRESS. Ad spend up 7.9% to $2.4 billion.
8. FIAT CHRYSLER AUTOMOBILES: Ad spend up 14% to $2.2 billion.
9. L’ORÉAL: Ad spend down 2% to $2.2 billion.
10. WALT DISNEY COMPANY. Ad spend up 7.4% to $2.1 billion.
Think about it for a second, why are these successful companies spending billions on Ads? The answer is simple. It is because effective Ads bring in MORE SALES.
Benefits of Advertising
i. Potentially increase sales
ii. Quickest way to pass information across to your target audiences.
iii. It helps to grow your business faster
iv. Turns your business into a Brand faster
v. Turns your business into a house hold name e.g think phone in Nigeria…. think MTN.
DON’TS of Advertising
1. Ensure all advertising message are accurate
2. Don’t withhold vital information
3. Don’t use ambiguous words
4. Keep it short
WHY AM I NOT GETTING TRAFFIC AFTER ADVERTISING
- Your product might be too expensive
- No after sales support
- Product is difficult to use
- No clear instruction on where to buy your product
- Shop/office location is out of town
- Product delivery/shipping charge is too expensive
- Your advertising message is not clear
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