In our previous article, we discussed how a website for your business is perhaps the best marketing tool out there. But why is marketing so important to the overall health and growth of your business? Whether you are just starting up your small business or have been in business for a while, you might see marketing as an unnecessary expense. But, marketing is one of the only ways to expand your business in terms of attaining your goals, succeeding and also making a handsome profit. So let’s look at the reasons why marketing is so important for your business.
Informing Consumers– If a consumer is interested in your business, but has no idea you exist, then you are losing that customer. To make them aware you need to invest in advertising. You don’t have to go out and purchase a spot in the Super Bowl, rather you can just start off with simple billboard advertisements and even some online advertising if you are confident in how to use it. Think like your customer. What is the best marketing strategy for you in terms of where you will find and reach your ideal consumer?
Engaging Consumers- After a consumer is potentially informed about your product they might go online and do more research about your business. So having a website is crucial to ensure consumers that your business is reputable. You can also have Facebook and Instagram pages and run ads on those sites as well. Social media platforms offer a great way to engage consumers when used effectively.
Who Is Buying Your Product- Even business and industry have a general target market. For example, the people most likely to buy makeup are women, and most people likely to buy sports cars are men. Knowing even the most basic characteristics of your consumer can help you greatly. And this is where Google Ads and Google Analytics come into great help, although you might need to hire an online marketing team to help set up and run your account.
Building Your Brand- Marketing helps build your brand not only in the increase in customers but also, in terms of how many people believe in your brand. Once your brand is reputable, they will spread their love for your business to their friend and relatives, who will do the same. And soon, your business will have a high reputation to allow for more consumers to come in.
More Sales- This is obviously the main goal of marketing, and it will do that id done right. It is crucial that you create a budget for your business ad spend. You want to make sure that the money you are spending on marketing needs is within the percentages of what your sales are. This is a great way to also monitor the effectiveness of your marketing strategies. As for how much advertising you should do, well that mainly depends on your budget and what your marketing goals are.
Depending on where you are at with your business and where you want to grow, along with your budget. You can take your small business to the next level and attract and engage with customers who might have not known that your business existed in the first place.