Why is business marketing so important for businesses?
If there is one thing you should know about business, that should be the importance of marketing. Marketing for your business, small or large is essential for it's success and growth.
WHAT IS MARKETING?
Marketing is a set of activities used to create, communicate, deliver, and exchange offerings that have values for customers. If you have an astounding product, or service you provide, but you have not marketed your business, how will individuals know about your product? How would consumers know about your business?
Marketing is vital to the growth of a business, for it brings your products or services to the individual's eye. Your business produces sales, revenue, profit, and overall finances to manage. If you have no customers, that means no business. Things like consumer preferences, demand, and competition, marketing is vital for every business. But marketing without a proven system or strategy-doesn’t work. Marketing without a proper investment of time or money-doesn’t work.
THINGS MARKETING DOES FOR A BUSINESS:
Informs- Educate your targeted market about your product/service and why yours is better than your competitors, and why your business serves a need they have.
Engages- When you leave an incredible experience in your consumers minds, they’ll want you again. Establishing and building relationships with the people you’ve interacted with your business is how you’ll turn newcomers into recurring customers. Keeping in contact with your “fans” is a great way for them to stay loyal. A great way to keep in touch is through social media.
Build reputations- Having a strong professional marketing strategy exemplifies that you’re a reputable business. Having a unique memorable campaign can help you establish credibility.
Sells- You can’t sell any produce any sales if your business is unknown. Promoting your business is what allows you to make sales.
Grows businesses-How you attract your customers in the first place, is by marketing your business. If you were to go to an event and set up a little table displaying your products and services, that’ll allow people to get to know your business. By participating in certain events, that will produce more consumers for your business.
Without marketing, you are facing a huge loss in your business. You’re not gaining any customers, due to lack of advertising and relationships. When your business is not being marketed, your business is most likely unknown. Without a customer relationship,you have no sales and no growth for your business. There is no intel on your business by the consumers.
So the lesson is, have a marketing strategy and put it to work.
This article was produced by our student intern, Rachelin Diley a senior at Greenbrier High School.