When you run a small business, it is easy to get caught up in the day-to-day tasks. Your concerns can flip from focusing between payroll, HR concerns, manufacturing efficiency, the next staff party, paying business taxes and then back round again to payroll.
When life is that hectic, it is easy to think of certain elements of the business as ‘soft’ and ‘nice to have’ rather than essential. Unfortunately, marketing is often on this pile. But be warned, ignoring your marketing is a sure-fire way to choke the life out of your sales funnel, beat-up your brand reputation and lose sight of how your competitors are about to blow you out of the water.
Sure, you may have run your business successfully for years without any set marketing plan or strategy. So why do you suddenly need to start taking it seriously now? Well, with modern business comes digital transformation. We have already seen traditional markets such as hotels and taxi services flipped on their head as a result and it is going to happen to more industries soon…only those that are established in the market will survive.
In this article, we take a look at why you NEED marketing to survive in the modern business world.
Let’s not beat around the bush and go straight in with the number one reason why marketing is key to business success. Because, when used correctly, it can boost your sales.
“But we have a sales team for that”
Sure, but Bob your top sales rep can only talk to one person at a time and if no one knows the business they aren’t going to give him the time of their day…poor Bob.
Marketing helps your brand reach the masses in a noticeable, compelling and sales boosting way. Sales and marketing go hand-in-hand as the dream team of business growth, one simply cannot survive sustainably without the other.
Your brand is awesome. I am sure of it. You know it, your employees know it, even your current clients probably know it. But do your future and potential customers know it?
Marketing lets you access new and previously untapped audiences of potential customers, show them how incredible your brand is to tell them how your product or service is going to change their life for the better.
Without marketing, your brand will continue to swim in the pool it is currently in, chatting to the same people and never growing. This may seem nice on the surface, but what if one or two of your buddies’ businesses start to fail? Then how are you going to pay the team? HOW are you going to pay Bob?
Marketing simply gives you the security of a larger pipeline of potential customers. Even if you don’t want to grow (that would be weird), then at least these potential customers are primed for if your current customers go missing in action.
In many markets, there is little to differentiate between businesses. All the competitors’ products or services are of a similar high quality, their customer service is excellent and there is little to make yourself stand out as the go-to brand.
This is where marketing comes in. Letting you shine amongst an already competitive marketplace. In fact, marketing can make less superior businesses in terms of their products and services do better than their better-quality competitors. There are loads of examples of this…when was the last time you made a more expensive purchase based on marketing over actual quality?
Finally, marketing does exactly what is says on the tin. It puts your brand into of the market.
Why is this important? Because if you aren’t out there, then your customers and potential customer may not be able to give you feedback. What they like about your brand, what they don’t like and they may even give you some awesome tips on how you might improve in a way that gets you more of their hard-earned cash.
In this article, we have covered just a few of the most important reasons why marketing is important to any businesses. Why not check out our full article on marketing your small business. Or better still download my e-book from the Resource Hub
Whether to increase sales, shine up your brand reputation or get amongst your competition and customers in the market place, marketing is a fundamental part of every successful business.