With the range of options available in the free market, it's important for businesses to stand out. Fortunately, crucial questions like “Why is our business better?”, “Why should customers transact with us?”, and “What is our business?” can be answered through solid advertising strategies.
The field of marketing has expanded beyond traditional forms, particularly after the rise of social media. Experts must know how to navigate this field to maximize their reach. Genuine products or services are one thing, but getting customers to your door is a whole different story.
If you’re still not convinced, then here are some key reasons why marketing is essential for small businesses:
Marketing builds brand awareness
Consistent branding to solidify your business’s identity is what builds loyal customers. Studies have proven how brand awareness can actually influence the cognitive process within consumers.
It's also not difficult to do. A brand awareness strategy is merely a set of marketing tactics. Successful businesses employ a range of strategies, from creating a brand personality, and using influencer marketing or referral programs. Variation in platforms is also important — businesses should invest in offline campaigns as well as online.
Mobile marketing is the best way to hook customers
The 21st century is the digital era. In discussing the three mobile marketing takeaways from Google I/O, we previously analyzed how consumer attention is eaten up by mobile phones.
This shows that a significant portion of the population is online. It is crucial to optimize this window, which has only become more prevalent thanks to Covid-19 and social distancing. Businesses have to adjust to the times if they're to succeed, and mobile marketing allows consumers to reach companies no matter the circumstances.
Marketing equalizes the market
Small businesses may seem disadvantaged due to the lack of funding that large companies or corporations may have. However, effective marketing does not have to be costly.
Modern marketing provides affordable options to contact consumers. Online advertisements on social media platforms can cost very little compared to the amount of users they reach, and email campaigns often cost very little as well.
The evolution of marketing thus allows small businesses to get creative and compete with competitors in their niche. The personal connections that small businesses are capable of building with their customers may even prove to be advantageous.
Marketing is the key to business success
Perhaps the most important reason — marketing is actually non-negotiable. LHH delves into how marketing is the heart of business success because of how marketing actually ties into every other part of the company such as branding, public relations, customer service and communications.
Marketing is more than just churning out advertisements, and needs to be heavily researched and backed up by data. It is therefore what allows companies to achieve healthy levels of consumer engagement. Nearly all companies see the advantage to this, and are responding by building effective marketing teams and hiring experts.
Marketing can alert customers of promotions and deals
Discounts and freebies have been a favored tactic by businesses for decades. They create a win-win situation where the consumer can save money, and the businesses still earns as well.
But first, customers have to know what businesses are offering. This is where marketing comes in. Even if your business doesn't have significant reach, a sales and promotions advertisement strategically catering to the target market is bound to entice fresh consumers.
In one’s business journey, marketing allows for a productive beginning and smooth growth. Investing in a good marketing team and strategy may initially seem like additional expense, but will ultimately guarantee business success.