Advertising & Image Investments
In their essence advertising investments represent a key element in the process of business development and business expansion. Promoting a certain business project is in the basis of its progress and realization in actual economic forms multiplying the financial profit out of a certain activity or specific goods and services delivery.
Advertising investments are usually realized following strictly defined budgets and precisely determined goals with a long-term effect – rarely can impressive short-term results be achieved. Practically, advertising creates image, while the latter builds up business reputation that attracts clientele and provides business turnover.
Bulgarian businesses (as well as EU ones) dramatically reduced advertising investment costs right after the beginning of the crisis – a trend that seriously affected marketing agencies as well as ordinary consumers. Logically, in an effort to cut all types of costs that can be determined as “additional” businesses drastically reduced their advertising budgets. However, not only did this lead to no positive results, but to a certain extent it further aggravated the business climate.
In the context of these circumstances there has been a vivid movement in advertising for the past 1-2 years. Tendencies suggest that much more companies will turn back to this type of activity as an integral part of their products and services realization. Advertising investments are included in the budgets of even less developed businesses contributing to the promotion of the activity itself and the popularization of the company’s name within specific target groups.
The rapid development of Internet-based technologies, mobile communications and especially social networks made online campaigns, banners, online promotions, vouchers, etc. really popular. All this additionally stimulated businesses by providing far cheaper investment opportunities with a certain level of efficiency. Of course, many of them aim at popularization or image creation but not so few have an actual stimulating effect on the economic activities of businesses.
Tendencies suggest that advertising investments will become more and more common and will take different, even more various forms that will most likely turn them into a major factor in business competitiveness assessment.