Before we get into the details of influenced advertising, let us find out what is advertising all about to start with.
What is Advertising?
Have you ever come across a product while scrolling through Instagram on your phone and decided to buy it? That is advertising. The fact that you always buy milk from Amul or clothes from Myntra is advertising done well. Advertising is the process of reaching potential customers to make sales. It is a marketing tactic involving paying for space to promote a product, service, or cause. The actual promotional messages are called advertisements, or ads for short. The goal of advertising is to reach people who are willing to pay for a company’s products or services and entice them to buy.
Now let’s look into how advertisements influence business growth:
What is influenced advertising? as the name suggests advertising that influences a customer to make a purchase. This form of advertising started mainly with the rise of social media. Are you wondering when did social media become so popular just like me? let’s find out!
Rise of Social Media
The ’90’s saw the emergence of social media websites which eventually gave way to its popularity. Blogger was one of the initial forms of social media communication, followed by LinkedIn for job-seeking professionals. The actual social media rise of popularity began after the inception of Facebook and Instagram, the two major websites that play a very pivotal role in business growth today. Today, using social media to create brand awareness, drive revenue, engage current customers, and attract new ones isn’t optional anymore. Now it is an absolute ‘must’.
Important ways in which IA can help you grow your business:
1. Create Awareness – IA helps create awareness regarding a service or product that you are trying to sell to your target audience effectively.
2. Increase Sales – awareness creates interest and interest attracts consumers to want to purchase the specific product or service you are trying to sell.
3. Brand Identity – IA helps in making your brand known and popular to attract more targeted customers. IA also helps in creating a lasting relationship with its existing customers thereby creating a strong bond between the customers and the brand.
Kinds of Influenced Advertising:
App advertising – In today’s day and age anybody with a smartphone is a potential customer. Technology has evolved and so has the world of advertising. Mobile advertising is one of the most effective ways to reach your targeted audience. Over 95% of a company’s revenue currently comes from mobile advertising.
That brings us to advertising through OTT platforms and the gamechanger in that category is Hotstar App Advertising. It is no surprise that Hotstar is one of the most popular OTT platforms in the market. One of the main reasons for its popularity is it has a wide range of content to choose from whether it is cricket to movies to web series or even documentaries, all under one roof, the one-stop-shop for your wholesome entertainment, and because of its variety it reaches a larger audience and a larger audience is potentially a larger number of sales.
Social Media Advertising – Like we have discussed earlier social media has become a very popular tool for companies to grow their business and to increase sales and one of the most popular websites in social media undoubtedly is Facebook. With a reach of 2.8 billion globally it’s a gold mine for advertisers and companies to market their products and services and to attract more customers. ⅔ of Facebook users visit a local business Page at least once a week.
Video Advertising – Over 70% of marketers claim that video produces more conversions than any other content. That is because the video is more engaging and drives more traffic. Let’s look at the reasons video advertising is taking over text.
1. In this fast-paced life people have a very short concentration span and that’s when video advertising comes in handy because video grabs people’s attention.
2. Videos are Engaging – people love sharing videos more than text. If created well, videos can inform more effectively than text, and they not only grab your attention but hold it for a longer duration as well.
3. Video advertising drives more traffic – one of the main tools in increasing traffic for a website is through SEO, i.e Search Engine Optimization and the fastest organic way of driving traffic for your company is by creating videos. Companies that use videos on their websites have 41% more web traffic from searches than sites that don’t use video at all.
4. Youtube Advertising – Yet another popular social media website to drive sales is none other than Youtube. With 265 million as a monthly user base, it has already reached 80% of the internet population in India. Doesn’t this information make you want to advertise on Youtube?
A few parting thoughts about IA that might interest you:
When was the last time you went out for a family dinner? I am sure you did so at least once in the last 10 days. How did you decide where to eat? In nearly 8 out of 10 cases it’s your children who took that decision, ever wondered why?
The best advertisements are targeted at children today. Companies have started using multi-channel funnels that consist of different platforms like TV, Social Media, and Apps used by your children to market their required products. We call this Influenced Advertising (IA). IA ventures into many areas like toothpaste, clothing, interior design, to name a few. This form of advertising is one of the strongest tools to attract more customers. That is why corporates have a high budget for this form of marketing because it is highly effective.
Do you advertise?
If so, How are you promoting your product or brand?
And how are you reaching your targeted audience?
Apply the IA concept to sell your product. You have to target the right audience, keeping in mind to use the knowledge of demography and culture, while personalizing the ad campaign in different ways to keep your audience engaged.