The Importance of Marketing
You Market to Interact
Stay top of mind after you have gained a consumer - and even before they make their next purchase from your company. Marketing takes your in-store experience, or your user friendly online platform, and helps convert those transactions into lifetime customers.
It is important to build relationships with people who have already purchased your products or services. From that first time they purchase, your marketing goals should be to gain lifelong consumers who will continue patronizing your business time and time again.
FACT: Social Media is a great place to start interactions. 91% of followers will visit the brand’s website or app after they have followed a brand on their social media platform. 89% will buy from that brand, depending on the quality of your product or service, amongst other factoring variables. That being said, social media is definitely an important place to market your business in today’s society! To stay in touch with your target audience, you can also try email marketing campaigns with post-purchase follow ups; or, even send out coupons and offers for upcoming services or sales.
You Market to Educate
In a crowded marketplace, you want to inform and attract consumers and make sure your target audience knows why they should buy from your brand or business, instead of someone else's. All consumers have a need, and marketing ensures that all current and potential customers are educated on how you can serve them, and their needs.
What makes you unique? Customers will get to know your brand through the product catalogue on your website, promotional and explainer videos, the advertisement they see while scrolling through Facebook, and the way you represent yourself through social media platforms.
You Market to Make Sales
You will not make a sale if no one knows about your products or services. From time to time, you may receive some walk-in business; however, marketing furthers your reach and will draw attention to what you’re selling so that people beyond your physical location can buy it.
Post content on social media that let’s followers know about upcoming sales. Build awareness through email marketing that shows new services. Place your services/products in local and online business directories to help consumers get familiar with your brand. These are all examples of how you can utilize marketing to build awareness that will increase sales, in return.
Let us give you the perfect example on the Importance of Marketing: In 2021, the average cost for a 30 second commercial during the Super Bowl was $5,500,000! Many of the companies you typically see are Fortune 500 companies that are known worldwide such as Coca-Cola, Doritos, and Budweiser to name a few. So why in the world would companies of that caliber ever spend $5,500,000 on a 30 second commercial spot during Super Bowl Sunday? It’s because these companies understand the true value of marketing in order to expand and scale business. And the importance of spending money to make it. Think about it; even if only 10% of the 96 million viewers during the Super Bowl ended up buying a 20 oz. bottle of Coke for $1.99, that’s a $13,604,000 profit. New customers equal additional sales, along with continuous sales of your revolving customers.
You Market to Build Reputations
Your reputation is everything! How you are perceived can truly be the deciding factor for a consumer who is trying to choose between you and a fellow competitor. As a business owner or entrepreneur, you want to make sure that your marketing strategies are spreading a positive word about the business brand. It is undeniable that a strong and professional marketing campaign shows consumers that your business is reputable and trustworthy.
Think about this: why should a consumer invest in your business, if you aren’t willing to?
Whether it’s well-designed content on your Facebook campaign, high-quality images in all of your promotional videos and materials, or an engaging website that reflects your unique brand voice, marketing can help you establish credibility, build trust and display professionalism toward your company.
You Market to Grow
The growth of your business happens when the aforementioned strategies are practiced consistently. Having a thorough marketing plan will greatly factor into the growth of your business. Always engage with your well informed customers. Repeat sales by creating awareness in your market. Continue to maintain a reputable business in the minds of your customers. Your business can always benefit from new customers in order to continue to thrive, and MARKETING is exactly how you gain those customers.