Why Is Marketing Important For A Business

For any business to reach its full potential and enjoy growth and success it must explore the benefits that marketing offers – businesses in all arenas are constantly looking for an edge over their competitors and utilise many different forms of marketing and advertising in an attempt to achieve it! There is a myriad of marketing tools, vehicles and strategies open to corporate businesses who have to decide the best format for their specific product or service and their target market – marketing is the driving force that propels business forward and elevates a company above its rivals, allowing your business to grow and thrive! Here is some information as to why marketing is vital for your business for establishing a strong market presence and connecting with your prospective customers or clients:

Branding

One of the most important – and beneficial – aspects of marketing is to initially establish, and then regularly reinforce, your company brand image.  Branding is the first step to consistent, long-term business success – you should identify your organisation’s strengths – and equally important, weaknesses – and establish your USP – unique selling point! Using this knowledge, you can create a unique and distinct brand identity – think of the power of an instantly recognisable corporate logo (look at the McDonalds big yellow ‘M’ for example), use colours that best reflect your corporate attitude and products, and establish their regular use in all your marketing materials and advertising, offering a consistent message and vision that people will automatically associate with your business! Getting your brand easily recognisable creates credibility and trust amongst your customers and establishes an ongoing relationship with them!

Targeting Markets

In order to capitalise on your branding strategy, it is crucial to understand and identify your specific target audience or market!  Accurately identifying your target market allows you to concentrate your marketing and advertising efforts on a specific range of people and you can ‘tailor’ your marketing campaigns especially for that group that will be more likely to be attracted to and purchase your product or service. To identify and then establish your specific target market you must conduct research and analyse certain demographics and behaviours of your ideal customers, which will allow you to recognise their preferences and customise your marketing aligned with this information.

Value Proposition

Developing a strong value proposition will help set you and your product or service apart from competitors – that is establishing why people should buy from you rather than anyone else. Instead of concentrating on ‘selling’ the attributes of your product, highlight the benefits and advantages of it – it is the outcomes and end results of a product or service that will be of real value to your customers, so emphasise how your offering fills and satisfies a specific need!

Marketing Vehicles

There are so many options for marketing now and it pays to use as diverse an approach as you can – along with the ‘traditional’ advertising vehicles such as direct mail, printed materials – flyers, brochures and such – all of which still have fantastic influences and are very effective in creating new business, there are now the more modern options of multichanneling – the social media opportunities, online advertising, emails and texts. Social media platforms offer instant, direct access to your target audience allowing you increased brand visibility and access to a wider target market.

Marketing Investment Returns 

To get the greatest returns from your marketing campaigns it is important to measure the actual impact of each of your advertising elements – continuous measurement and analysis aids in tracking performance and identifying key performance indicators – KPI’s – which dictate conversion rates, costs and traffic volumes which, in turn, can all be used to fuel optimised strategies, marketing tactics and more efficient marketing investment and resource allocation going forward.

For any business, effective marketing is essential to survival and future growth and success – continuous learning and awareness of marketing opportunities and channels will help your business stay ahead of the competition in the very competitive marketing arena.

Enigma Design & Print 

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