MightyRecruiterA lot of money goes into branding, market research and tailored ad campaigns. However, good advertising for small business owners is not just about connecting with the right audience. Its also about staying compliant. Here are four industry and regulatory rules to keep in mind as you begin to develop your companys image.
1. Be Accurate
According to the Federal Trade Commission, all advertisements must be truthful, fair, non-deceptive and backed by evidence. In other words, you need to be honest about your product or service and be able to substantiate the value you claim to offer. For example, if you tell consumers that your chocolate bar is all-natural, its label better not list aspartame as one of the ingredients. The FTC hones in on health-related advertisements as well as claims that average consumers would not be able to evaluate on their own. Suppose you state that your vitamins will reduce the risk of cancer. You will need substantial evidence of clinical testing and strong endorsements from oncologists and other medical experts. Likewise, you cannot claim a pillow to be hypoallergenic without hard scientific proof. Subjective claims, on the other hand, are not as heavily regulated. The FTC probably wont care if you tell consumers that your orange juice tastes incredible.
2. Have Enough Inventory
This rule applies to companies that sell physical goods. Depending on where you conduct business, you may be required to stock a minimum supply of the product you are advertising. This means being able to meet the demand that is reasonably expected, unless you specifically state that your supply is limited. Regulation aside, you dont want to hype up a product and then fail to deliver to your customers. This doesnt do much for your companys credibility.
3. Provide Value
Your advertisement should be just as valuable as the product its selling. Heres a list of key elements to incorporate: Attention: Consumers are busy, so you need to be catchy. Use short headlines, attractive images, bold type and commanding questions. You might consider adding a price quote if it is relatively low. Suggestive value: Briefly convey the advantages of your service by using active language or clever images. Recall: Which cereal brand do you think of when you see a leprechaun or a tiger? How about what products come to mind when you see an apple with a bite mark or hear a diamond is forever? Just like these examples, come up with something that people will remember. Educational: Consumers appreciate transparency and helpful product tips. Plus, youll be much more credible as an industry expert than you will be as a business expert.
4. Use Free With Caution
If you tell people that a particular item or service comes free, be sure to state any and all qualifying conditions and limits. For example, assume that you want to advertise a BOGO sale where a consumer buys one pair of shoes and gets a second pair for free. In most situations like this one, the base price of the free product must be less than or equal to the purchased product. If this is the case, you must clearly state so in your ad.
5. Be Respectful
Its easy to go overboard in the land of the free, but try to avoid bashing your competitors. If you do make a comparison, be sure that every statement is 100 percent accurate. Furthermore, make sure your ad campaign does not break any copyright or trademark laws. In general, you are not allowed to use another companys picture, name, slogan or endorsement without express permission. When in doubt, always ask. It doesnt hurt to try several different advertising techniques in the beginning, but youll need to eventually to stick to your chosen logo and slogan. Just remember to play fair and do your research.