If you listen to the radio, scroll through a newspaper or watch TV, there is one consistent advertising approach that the majority of companies use. In the automotive world, it’s one low monthly lease or finance rate with low interest for an ridiculous term like up to 84 months. In the audio and video field, it’s the lowest price on the largest big screen TV. And of course the grocery circulars which feature loss leaders on limited items to lure the shopper into their store. Every department store has a sale almost on a weekly basis and as such, have trained consumers to wait for the sale. Products and services become commodities and the only point of differentiation is price. Why not take a different approach? The approach that I have used in many business categories is what I call the educational approach to advertising. For example, a financial advisor can create a 60 second commercial and use the first 30 seconds to answer questions about investments. Examples are . . .
– When should you start investing?
– How do you begin planning for retirement?
– What is a tax free savings account and what are the benefits?
As you educate consumers, you build trust and when they are in the market for a financial advisor, they will contact you. The same approach has been used with dentists discussing dental health tips, pool stores talking about how to maintain your pool during the summer and even funeral homes providing information and demystifying the industry.
Think about it – would you use the services of a business that just offered discounts and specials or one that provided useful information. And this approach can be done with any media.
For more information on the educational approach to advertising, email me at email@example.com