The role of marketing for business growth can not be overstated. As a matter of fact, most other business functions are dependent on marketing for success. Imagine having the most awesome product in existence that no one knows about, it makes no difference. It’s easy to assume that your product would sell itself because it’s great. However, you need to get the attention of your prospective customers for them to actually know your product is awesome.
An important point to note is that marketing goes beyond placing advertisements. It involves knowing who your customers are, how certain demographics would respond to your product, and how to deliver your message, and much more.
We’d talk about a few roles of marketing in your business growth endeavors in this article.
MARKETING HELPS YOU IDENTIFY CUSTOMER NEEDS SO YOU CAN MEET THEM
We’ve established that your customers are the most important people in your business.
The goal is to continuously keep your customers happy so they’d form a bond with your brand. If your customers are happy then your business would keep growing. It is the bond they form that would make them refer you and also continuously come back. However, you would need to know what makes your customers happy and that’s where digital marketing comes in. You can learn a lot about your customers online. Businesses can gather information about consumers’ behavior and changes therein from time to time through marketing. This knowledge would help you frame your policies and makes where necessary. You can learn more about some new marketing trends that would be instrumental here.
MARKETING HELPS YOU GROW YOUR REACH
Marketing is an important strategy to ensure the growth of your business. While your current customers should always be your main priority, marketing efforts can help you expand this base. Little efforts like social media posts and email campaigns will not only engage existing consumers but spread the word to new potential customers. In essence, marketing secures your business’s future through new and old customer engagement.
MARKETING INCREASES SALE
You can’t make a sale if no one knows about your products or services. While talking to friends and your personal connections may bring in some business, marketing extends your reach and draws attention to what you’re selling so that people can buy it. Emails showcasing new releases, social media posts alerting customers to an upcoming sale are a few examples of how you can use marketing to build the kind of awareness that generates revenue. On one hand, marketing helps to reduce the selling cost and increase the business profits, while, on the other, it helps to increase the demand for the product through tools like advertising, sales promotion, and publicity. Marketing helps sales and sales help your business.
MARKETING HELPS BUSINESS BUILD THEIR REPUTATION
Your reputation as a business is important for your growth, if you have a good repute, a lot of people would want to do business with you, buy from you, and remain your customer. On the other hand, if you have a bad reputation or none, no one would want to associate with you. The goal is for people to care about your business enough to buy from you and even tell their friends and connections about you. Your reputation can be the deciding factor in whether or not a consumer chooses to reach out to you or one of your competitors. marketing can help you establish credibility, build trust, and engender goodwill toward your company.
MARKETING HELPS BUSINESS ENGAGE CUSTOMERS
Customer engagement is important for every business. It’s one thing to offer a superior in-person experience or an easy online shopping journey. But marketing keeps your business in people’s minds after a transaction is over — and before they need you again. To turn first-time customers into lifelong fans who will sustain your business, you have to establish and build relationships with the people who’ve interacted with your business. Sending post-purchase follow-up emails, replying to customers on social platforms, and delivering helpful content are just a few of the ways that marketing can help you stay in touch with your target audience.
Now you know the role of marketing in business growth, it is time to start working towards marketing your business the right way. Knowing that marketing is important is not enough, doing your marketing right is important. It might take a while to get your marketing off the ground when you just start out, however, consistency is key to helping you grow and if you can’t start by doing your marketing in-house, you can always outsource your marketing for as long as you want.