We’re doing a Small Business Week mini series featuring insights and advice from small business professionals and industry experts. Small Business Week, which is from Oct. 21 to 25, is an annual celebration of entrepreneurship that has been celebrated in Canada for 34 years.
The City of Vaughan has a strong and vibrant small business community of 9,900 businesses. Small business is the backbone of a successful city, and Vaughan proudly supports the growth and entrepreneurial spirit of this community.
Here is the third post in the series:
Advertising in the 21st Century
Advertising and marketing campaigns saturate our lives. Advertising has gone beyond mere omnipresence; our interaction with technology has allowed advertising to enter into our most private thoughts and desires.
The advent of social media has resulted in millions of internet users constantly sharing data about themselves, completely unaware of who is watching and listening to what is being shared. We broadcast our interests, activities, decisions and even our inner-most private moments, and on the other side marketing companies are listening, watching, collecting and analyzing this data to:
- Educate themselves about their target audiences
- Fine-tune their campaigns to target audiences more effectively
- Deliver the company messages to target audiences more intimately.
This means that advertising in the 21st century now requires companies to be more intimate with their target audience.
The future of advertising is moving away from the paper posters of yesterday and transitioning into digital signage. Digital signage makes use of the incredible mass of information available about consumers —advertisers are able to learn more about what consumers want and care about, and advertise just that on digital signs.
The most effective form of advertising reaches a consumer who is already interested in or in need of a particular product or service. Targeting a consumer who is more likely to convert from a prospect to a buyer is the most cost-effective way of stretching your marketing dollars. This is called targeted advertising.
Another key change in 21st-century marketing is the move to interactive advertising. The targeted audience is engaged and forced to really think about what is being sold to them. This concept focuses more on educating the target market rather than selling to them.
SMALL BUSINESS WEEK
The future of advertising is a combination of recognizing your target market, communicating with the consumer in an environment in which they are most likely to absorb the message and addressing them based on the information that has been collected about them.
Want to know more about the many ways advertising has changed and what businesses need to do to take their marketing campaigns to the next level and start reaping the rewards? Click here to learn more about the free seminars and workshops taking place this week in Vaughan during Small Business Week. Keynote speaker Sam Rad, an internet marketing consultant for yousavehere.ca, talks about the revolution of advertising at the Transforming Your Advertising Approach to the 21st Century seminar.
Q: What are your expectations from your advertising efforts?
Q: Do you feel that there are enough avenues for free advertising?
See you at Small Business Week!
Funding Specialist at Bull’s Eye Business Consulting
Guest blogger on behalf of Vaughan Business Enterprise Centre (VBEC)