How important is marketing your business?

24th July 2014 Business, Marketing 2603
How important is marketing your business?

Any business, big or small, online or off, depends on marketing for its success. In fact, there’s probably no other task more important to the success of any business than creating a solid marketing strategy. The reason is simple; even if your company manufactures the best products in the world or offers the best services, without marketing to tell prospective customers about those products or services, selling them and making a profit is going to be extremely difficult. In other words, marketing is how you tell people about what you make, and why they should purchase it.

Let’s take a look at an example. Let’s say that your company manufactures bicycles. You might think that, since everyone knows what a bicycle is and there are a lot of people that want to purchase a bicycle, marketing your particular brand of bicycles wouldn’t be necessary because there’s already a demand. And you’d be wrong.

The average consumer doesn’t just say “okay, today I will purchase a bicycle”, and then purchase the first one they see. They first need information about bicycles, including the different types of bicycles, the different levels of quality they can afford, the various accessories that can be purchased for them and of course their different prices. Once a consumer has all of the various bits and pieces of information they need, they’ll make a decision and, finally, make a purchase.

Without all of that information, information that a solid marketing strategy will give them, there’s almost no chance that they would make a decision to purchase your particular brand of bicycle. To begin with they won’t even know you exist and, even if they do, they won’t have any facts or figures to make a decision as to why your bicycles might be their best choice.

That’s what marketing does, it gives your target market the information they need to make an educated purchase decision. Marketing also helps to brand your company, spread the word about your products and services and help you to build a reputation among consumers. As all of this is happening, interest in your products will increase and sales will increase as well.

Think of marketing as the conversation between your company and the public. If you were talking to a friend or family member one-on-one about your products, you would likely tell them all of the positive factors that make them different from your competition and worth purchasing.

Marketing does exactly the same thing but on a much bigger scale, opening the conversation up to hundreds, thousands and even millions of people.

Marketing is thus the voice of your business. A good marketing strategy will “talk” to consumers, informing them about what types of products or services your company produces, the process that you use to make them, why they’re a great value and, most importantly, why they should purchase them.

There are many marketing channels, to be sure. A website, online marketing videos, a weekly blog, advertisements in your local paper, pay per click advertising and even “word-of-mouth” marketing, among many others. All of these work together to form your marketing strategy and, if done correctly, will undoubtedly help your company to become successful.

The truth is, many business experts would say that, before starting any business, you should create a marketing plan first. That’s how important it is to the success of any business, and that’s why creating a marketing strategy is an essential task of every business owner.

Hopefully you now realise how important marketing is to your business. If you have any questions about marketing, or need any help marketing your business, please get in touch or leave a comment and we’ll be sure to get back to you with advice and information.

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