The importance of Marketing cannot be overstated. For as long as products and services have been in the world, marketing has been put into practice. Whether it’s a textile vendor screaming about his untearable towels or BoAt’s pop-up on Instagram, these are all marketing techniques practiced to improve brand popularity and increase their customer base. Whether you run a small business or a luxury brand, marketing is crucial for every business. Even companies that are not into marketing are practicing a marketing strategy. Lamborghini not using traditional motion advertisement, is a marketing strategy that separates it as a luxury brand that doesn’t need marketing. Brilliant!
In other words, Marketing is the key to building your business. No matter how good your product is, or how reasonable your rates are, if you fail to reach your target audience and convert them into loyal customers, your business is bound to fade. So why is it that marketing is so important? Let’s dive in to understand the importance of marketing:
Crafts Brand Image
A brand is simply a name, term, design, symbol, or any other feature that distinguishes your product from others. Does your logo immediately tell the consumer about the product or service? Can a consumer differentiate your product from others just by the style of the product? Does your company have a slogan that immediately lets the audience know it’s your product? Marketing does that for you. The benefits of Marketing are such that it creates a distinct brand image for your business. What you do. What your firm stands for. What distinguishes you from your competitors? With the help of a logo, branding color palette, packaging, slogan, or style, Marketing defines your brand and its image. Brand identity also helps consumers easily connect with your brand.
Boosts Brand Awareness
Effective marketing helps boost your brand awareness. You have crafted a brand image, but how recognizable is that image? Brand awareness means how well-recognized your brand is. Brand awareness means letting the audience know of your presence and what you offer. Effective Marketing can familiarise your target audience with the qualities and image of your brand. Marketing makes sure that the visibility of your brand is maintained and encourages discussions around it. This leads to more and more people being aware of your brand name, logo, products, niches, and benefits. Say you are a company that sells a wide range of keyboards that are suitable for coding and gaming. You have built a clear brand image implying that your products can perform smoothly and you offer a wide range of personalization options, giving the consumers the option to craft their keyboards to their best interest.
By creating engaging content around your brand identity you can establish your brand. A gamer or a coder is someone who uses this product way more than other people and their keyboards can often be a part of their professional identity. Effective Marketing can help you establish your brand as a sign of quality and performance when it comes to gaming or coding. So much so that the next time an emerging gamer or coder talks about purchasing a keyboard, people around them will suggest your brand name, because they have seen or read somewhere that you make keyboards specially for that purpose. This way, before they have even begun their research, your brand name has made their list of options, and if your products are as good as your marketing, by the end of their purchase you will gain a loyal customer. This is how effective marketing can boost your brand awareness.
Maintains engagement and communication
No matter how good of a product you design or how brilliant your first marketing campaign went, it might be profiting your business currently but if you fail to maintain your brand hype sooner or later the profits will stop. This is why maintaining engagement and communication is essential. Marketing ensures that the business is engaging with its customers and or other businesses via social media, email, or customer service. It is like taking care of a plant, you can’t just pour five liters of water once a month, never attend to it again, and expect it to grow. For a business to promote its longevity, it needs to make sure that loyal customers are attended to.
Marketing maintains engagement, blog posts, Instagram posts, and social media like Twitter or X among other things. It ensures the content is customized to the interests of your existing and target audience. It also tackles engagement through surveys, emails, and incentives, like promotional discounts. This marketing practice helps persuade customers to re-engage with the business.
Increases Sales
Undoubtedly, the biggest advantage marketing provides is that it helps increase your sales, aka your profit margin. Apart from increasing your brand awareness and boosting your customer engagement, marketing also ensures your customers are aware of the discounts and offers the brand is giving. Discount campaigns are one of the best ways to pull customers into buying. Once they are accustomed to the products, there is a higher chance they will opt for it even after the discount goes down. We have seen several companies follow this marketing strategy to boost their sales and build their customer base. Reliance Jio is one of the best examples of this Marketing strategy. They built their brand identity around free internet and gradually increased their prices. This
Improves ROI
Marketing is the most secure way to grow your business as the return on investment is almost never disappointing. Marketing designs goal-oriented campaigns that focus on an individual aspect and in turn increase sales. Individual campaigns hold a great impact on overall revenue growth. We all remember Domino’s 30-minute free delivery campaign. Marketing campaigns like this can not just improve your sales but help you take your small business to greater heights and give you a greater return on investment for years.
Conclusion
In an era where there is an abundance of businesses for every commodity and every service, marketing is what brings you on top. Marketing helps make your presence known. The benefits of marketing are endless, it is esential for business growth. It is one of the most important aspects of every business if not the most important. That was our take on Know why marketing is important for your business growth and needs.
Also read: