Updated: Jan 22
Importance of an Advertising Agency for Your Business
There will be a large, colorful metal box with mouth-watering images of an assortment of cookies in every household. Sometimes there is even a dollop of rich butter next to it. But once we open this, our eagerness will be replaced by disbelief as a cookie gift box is the most common place where most mothers store their sewing kits. And right there, folks, is what effective advertising looks like.
In today's fast-paced market, fueled by a rapid influx of competition and new ideas, mastering the art of advertising is crucial. And this is not for your company to bring in the big bucks. It is mainly done to sculpt an identity or a brand for your product.
Used efficiently and effectively by the right set of minds, advertising can make any company achieve its full potential. Now let's look at the salient advantages of investing in the field of advertising or simply hiring an advertising agency.
1. To Get a Fresh Outlook
It's quite natural for businesses to be hesitant when it comes to trusting an external marketing agency. But an outsider's fresh perspective will help companies to a large extent. They will be able to change their products according to current trends. More importantly, this will help in retracing their earlier steps and correcting errors.
As internal teams are too close to a product, it gets tough to evaluate it constructively. Taking a step back and thinking objectively to rebrand a product by its creators is way harder than it sounds. An external ad agency brings in a fresh set of eyes and helps in shaking things up. Yes, this is a good thing. This helps in kicking out stale and repetitive thinking and brings in quirky new ideas.
2. To Build Your Brand Identity
Irrespective of how great a product is, something as simple as the logo can deter customers from buying it. This is why a company should strive to create a unique image and identity for itself. And this is where a good marketing agency can make a real difference. As a company's brand is the true reflection of its personality and value, it leaves an ever-lasting impression on the customers.
Recently, in 2020, Hindustan Unilever, one of India's biggest consumer goods companies, changed the name of its fairness cream from 'Fair and Lovely' to 'Glow and Lovely.' This was done to inculcate positive beauty standards and eliminate colorism. This is an apt example of how one word can completely make or break a company's image.
An example of powerful, cause-driven advertising to change brand image is Budweiser's campaign by the name 'Don't drink and drive, someone, is waiting for you.' Their ad shows a dog patiently waiting for its owner to spread awareness about the fatal accidents and discourage people from driving under the influence as he comes late from a party. This ad wasn't aimed at increasing revenue but was created to showcase its stance on drinking responsibly.
3. To Grow Your Connections & Contacts
Networking is key for any company to expand. But it is quite hard to create a product and build contacts at the same time. This is when an advertising agency comes in handy. When a company's contacts and connections grow, its popularity automatically increases too.
One of the main functions of an advertising agency is to expand a company's social network. It includes developing and maintaining functional relationships with the following set of people:
Experts in the field
And the list goes on depending on the company's target audience and type of product. An agency will not just spread the word about your product but also help enhance it with experts' inputs. An ad agency in Las Vegas will essentially act like a glue that keeps all the concerned shareholders connected. And this far more cumbersome job than it sounds for a company to do it by itself.
4. To Strengthen Your Revenue Stream
Popularity, success, and progress- all these factors boil down to one simple goal of generating revenue. Advertising agencies of today have found new methods to bring in revenue. They explore new methods and have progressed from traditional work to hire a model. Some of the new techniques practiced by ad agencies today are:
Establishing a Research and Development budget
Learning to develop new prototypes
Forming product development units
Focusing on sales promotion tactics
Cataloging past work for future monetization
A research article published in the Social Science Research Network found that sales revenue and advertisement expenditure are statistically dependent on each other by 95 percent. The study also pointed out that previous year sales of a company and the extent of advertising majorly decide its revenue component.
5. A Map Inside the Customer's Mind
Any good advertising agency comes armed with in-depth market research and specialized knowledge about the target audience. With separate teams working in their unit, the amount of data they have in store is vast. And with a good strategy, a company can tap into this treasure trove and utilize it to the maximum extent.
Some experienced ad agencies in Reno hire external market research firms to get insider information about their target audience. And this in turn majorly benefits their client company, which is you. And in-depth market research doesn't help the client company alone. It greatly increases an ad agency's revenue as well. A popular American ad agency found that advertising firms that indulge in market research realized 20 percent profitability, while firms that didn't do this realized only 11 percent.
An ad agency that will provide optimal market research will constantly monitor emerging issues and trends. And this will help to decide what services to develop and offer and in what manner as well. This will help a company identify unhappy or misjudged customers. And also point out which market trend is keeping them from developing a relationship with the company. You can use this strategy to bring back former clients as well. A good marketing agency will also be on its feet to weed out suspicious or unhealthy patterns that emerge.
6. Effective Time and Cost Managers
Promoting a brand or product is a time-consuming effort. But most companies, especially the smaller, upcoming ones, have a great dearth of time. Hiring an efficient ad agency in Las Vegas will ultimately take time off the employees' hands to do tasks they are hired for. This way, the CEO of a company can focus his entire attention and time on streamlining and improving the company.
Some of the tasks typically assigned to an ad agency that is otherwise very time consuming for the company to do are:
Search engine optimization
Copywriting and content creation
Social media marketing and outreach
Frontend and backend web development
Creating and storing backlinks
Utilize inbound marketing software platforms
Apart from being good managers of time, marketing agencies also save money for the company. A typical ad agency in Las Vegas comes armed with a team full of copywriters, designers, content, and social media marketers, among other consultants. According to experts, this is a lot cheaper than hiring individual personnel to complete the same tasks.
Lastly, always look at hiring an external agency in Reno as an investment, never an expenditure. The reason is that they are ultimately here to increase your profit.
7. To Boost Your Brand Visibility
Over the years, the concept of advertising has taken various shapes and forms. Earlier in the 2000s, people used to advertise their businesses primarily through newspapers, billboards, and more. Luckily for us, with the advancement of technology, ad agencies have upped their game and have come up with a slew of new measures for brand visibility.
With the right advertising team, even a one-line slogan can make your product go viral. That is the power and potential of well-researched image branding methods. But here is a word of caution. It is not possible to achieve brand visibility overnight. This takes a good amount of patience and close cooperation with the marketing team.
An advertising agency can help you with boosting your brand visibility in the following ways:
Creating and marketing your Google My Business listing
Enhancing your social media profiles
Creating product campaigns
Conducting marketplace research
Creating keyword optimized blogs
Conducting events that engage your target audience
These will help you to optimize your website content and keep your social handles active throughout the year.
8. To Capitalize on Social Media Marketing
It is most likely that employees get too engrossed in product creation that the outside world disappears from their view. Well, being focused is a definite necessity. But for the product that you painstakingly built to reach its rightful owner, a bit of good advertising is needed. Any good ad agency excels mainly by being well connected to various parties in their field.
As it is very easy to fall behind in the internet world today, hiring an advertising agency in Las Vegas is imperative to carry out social media marketing effectively. A marketing agency will decide on the kind of content that should go on a specific social media platform. Here are the different methods by which they can achieve this:
Integrate chatbots in your website
Create a content marketing strategy
Use happy customers as brand advocates.
Deploy different tactics on different social media platforms
Run interactive campaigns (lives, contests, quizzes, etc.)
Engage with your customers (reply on Facebook and Instagram posts, retweet, etc.)
For example, Durex's social media team makes it a point to put out eye-catching, creative posters that always incorporate current news topics in them. And they concentrate on targeting young adults by sharing these primarily on Instagram. But other companies that wish to take a conservative stance opt for mailing their customers regularly. The choices are aplenty, but a good agency will devise a customized plan that suits your profile.
9. To Stand-out from the Competition
Publishing a large page of one advertisement in a newspaper is no longer an effective method to be unique. Times have changed, and so has the competition. Companies need to be armored with new innovative techniques to be able to stand out from the crowd. And this happens to be one of the main functions of a marketing agency. Especially with customers' growing impatience and decreasing attention span, it is crucial to capture their interest.
And you can do this in several ways if one knows to operate the many available technical tools. For example, fun and quirky posters can be made for free at websites like Canva, Piktochart, and Fotor, among others. You can create simple, engaging videos on a smartphone with apps like Kinemaster, Splice, and InShot.
Also, marketing agencies will be well aware of the work done by your immediate competitors. It will help you rule out repetitive content, pick new campaigns, and also help you to fill the gaps left by your rivals. It is important to keep in mind that their product might seem unique to each company, but this will be one of his many choices for a common consumer. With meaningful marketing, it is possible to boost your product to the top of their list.
10. Campaign with a Cause
Lastly always, always strive to send out a special message through your product. Choose such a marketing agency that will help you to create campaigns with a cause. Gone are the times when free sample distribution or yearly sales attract clients. Nowadays, people tend to remember a brand and go back to it for its larger than life story.
One such example is Unilever's care brand, Dove's 'Real Beauty' campaign in 2013. They discovered that only a measly four percent of women in the world consider themselves beautiful. It was more of a social experiment than a mere campaign to generate revenue.
Are you looking to hire an ad agency in Las Vegas or Reno?
Then, you are in the right place. Give us a call at 775.313.8944 to get a free consultation.