19. An analysis of competitors' advertisements is helpful in laying out advertising strategies for a new business
Successful and cost-effective advertising is an important issue to consider when starting up a business. A comprehensive business plan should include details of advertising strategies, a helpful starting point for which is an analysis of the advertising currently being used by competitors in the same line of business. The rise of the internet has provided a variety of new opportunities for advertising, of which an innovative business should take full advantage. A well-designed website should ideally combine a professional appearance with user-friendly functionality, and be widely promoted to draw as much traffic as possible. This not only increases the visibility of a company, but assures potential clients that the company has a forward-thinking, enterprising outlook, and is willing to embrace as well as exploit the latest technological developments.