Why is marketing so important?

By August 11, 2016Marketing, Planning
marketing

All businesses need customers. Customers learn about your business though your marketing activities. Without marketing, you may offer the best products or services in your industry, but none of your potential customers will know. The challenge here is to consistently appeal to your customers wants and needs through well organised and executed marketing.

What is marketing?

Marketing is the activity and method for creating, communicating, delivering and exchanging offerings to customers, partners, investors and employees.

It includes the ideas, the brand, how you communicate, the design, print process, measuring effectiveness, market research and the psychology of consumer behaviour. It is everything your business does to acquire customers and maintain a relationship with them. The ultimate goal of marketing is to match your business products and services to the people who need and want them, thereby ensuring profitability.

Why is it important

The three main goals of marketing

1. Attract

People need to know your business exists before they become customers. Sometimes, before they buy anything, your best customers might have many exposures to your brand and business via multiple sources including your website, advertisements, business card or word of mouth from another customer. On a base level, marketing is advertising, promoting and educating the public about the value of your business. Before you can create a favourable impression or motivate customers to buy, they have to become aware of your brand and its meaning. Brand awareness is key for building trust in a brand and developing a business reputation.

Marketing is making connections between customers and your business

2. Convert

If you want to boost sales and see your business grow, you need a strong marketing strategy to turn prospective customers into paying customers by encouraging them to take a specific action. There is little point in attracting interest in your business if your conversion process results in most of your hard-won enquiries falling through the cracks. To develop a marketing strategy, you need to:

  • Clearly define your product or service
  • Identify your target market
  • Know your competition
  • Find a niche
  • Develop awareness
  • Build credibility
  • Be consistent

A smart business maps a path to success through the development and delivery of a consistent, focused marketing strategy

3. Retain

You need to work at sustaining your business presence. Marketing is something that your business needs to plan and manage every day to maintain a healthy relationship with your customers. It allows your business to maintain long-lasting and ever-present relationships with your audience. It is not a one-time fix, it is an ongoing strategy that helps your business flourish.

Marketing secures your business’s future through new and old customer engagement

Marketing plays an essential role in the success of your business. It educates people about what you offer, helps boost your sales and profit and develops your business reputation. However, if it is not researched and conducted well, you will be wasting time and money. Ensure you know what your business and marketing goals are, who your target audience is and how you are going to deliver and measure the success of your marketing efforts. Don’t focus all your time and energy trying to build your business but push marketing to the bottom of the list. Now, is the time to market your business and see the results you need.

About Caroline

Caroline is a specialist in business creation, growth and change management. Her aim is to empower start-ups and small businesses to drive growth through the development of business ideas, product and service development, strategy and system planning as well as business branding and promotion.

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