On its most basic level, marketing is what you do to get your product and/or service in front of the end consumer. Because of this, it affects nearly every aspect of your business.
- market research within your industry and dictates who your target customer is
- what your brand is and what brand values you have while showcasing them to your target market
- how you communicate with your customers
- the design of your product and packaging and how your brand is perceived by your consumer base
- the promotion that brings about awareness to your brand and business
- measuring the success or failure of your entire strategy
The actual term ‘marketing’ has a very poor reputation with a lot of people. A lot of people mix up the term ‘marketing’ with ‘advertising.’ The truth is, advertising is a single component of marketing.
People assume marketing is all about junk mail clogging up your mailbox and spam emails clogging your inbox. While email and direct mail are both forms of marketing, they are poor implementations of it if the consumer isn’t finding value in them.
Properly done marketing requires a lot of planning and good execution. To do it right, you need to know who your target customer is, where they are, and the best way to reach them. You want to reach your market with the right message at the right time.
When done properly, you will find that your market is glad to receive your direct mail or emails because you are giving them value whether it be content they signed up for or access to promotions and coupons that they can use to save money.
Why Exactly Does Your Business Need Marketing?
Marketing should be one of the most crucial components of any company’s business plan. It holds significant importance for a variety of different reasons including:
To Scale Your Business
In order to generate more revenue within your business, you will need to be able to find ways to acquire new customers or even convince existing customers to purchase from you again. In order to achieve either of these things, you will need to implement effective marketing strategies.
To Get Found
Your target marketing is constantly being bombarded with choices. Because of this, you need to find a way to get your business to stand out within the marketplace. If you want to make a sale and convert someone into a customer, you need them to be aware you exist first.
Set Yourself Apart from The Competition
When your customers are faced with a choice between you and your competition, you need to ensure that you are giving them enough reasons to choose yours. You want your marketing to constantly showcase the value you are bringing to the table by highlighting your unique selling proposition (USP) to your target market. Looking at different options and how to make your business unique find your fleet can take you in the right direction.
You should be leveraging your marketing to create and sustain more brand trust. A customer is going to be much more likely to purchase from you if they trust you.
The Challenge for Smaller Businesses
If you aren’t an expert in marketing, you may find a lot of this information daunting. Luckily, everyone in business has likely done some marketing previously. If you have invested in a branded wrap for your company vehicle, that’s marketing. If you already have a website for your business, you’ve already invested in marketing.
The very first thing you want to do is start with the basics. That way, you can get your feet wet and avoid the paralysis from analysis stage. Think about the marketing that you are already doing. Believe it or not there will be business grants available to help kick start your business or boost it so that it can thrive in this ever changing environment.
Try to layout all of your strategies that you are currently implementing on the table. This will give you a good sense of what you are doing and whether or not it is working. Also, you should be able to come to terms with whether or not you are satisfied with it or if you should call on a professional.