What is Marketing and Why is it Important?

The definition of marketing is:

The action or business of promoting and selling products or services, including market research and advertising.

Business success lies in marketing, and once you’ve found marketing success, your business should thrive. That’s the dream! The word Marketing covers advertising, promotions, sales and public relations, making it a big part of your business. Marketing is a process of sharing and introducing your products and services to potential customers and clients, to attract attention and create interest around your business and what you have to offer. It should be looked at and taken seriously by all businesses, whether big or small. Marketing is what builds up a business and makes it a success.

In a previous article, we spoke about building your brand, and marketing is part of how your brand is presented to customers to get them interested in your business. Traditionally, it was done through posters, flyers, and other printed ads that are posted from home to home, displayed on sides of buildings, or read in papers and magazines. But in this digital age, marketing is mostly done online and via social media. Social media is a great tool for your company to use as it is mostly free and allows you to reach to audiences across the world, not just where your business is based. Printed ads are still popular, but online advertising and social media is the way forward.

As well as sharing your services and products, marketing plays an important role in creating and maintaining relationships with customers. People are drawn to campaigns that are different or tell a story. The story could be something that feels familiar or takes them back to a time in their life through nostalgia. Simple times of childhood or good memories that people crave to go back to and relive. The story could be what the customer dreams of, or what they want to be doing with their life. People are always wanting to step closer to their dreams, so why wouldn’t they choose a product or business that makes them feel like they will get closer to their life goal. If the campaign is different to what your competitors are doing and outside the box, it will grab people who wouldn’t normally stop for that kind of product or leave a lasting image in the heads of potential customers. Whatever road your company chooses to go down, really think about how you will pitch your idea to your possible customer base and think ahead to how your marketing choices will expand and target more people as time goes by.

People are touched by the memories you leave them, not the prices you offer them.

So why is marketing so important?

First, it informs customers of the services and products that your business has available. This seems like a simple one, but marketing is basically spreading awareness of your business. As well as informing potential clients of what you have to offer, it lets the world know who and what you are, letting you stand out. Promoting your business is a big part of growing and evolving which can be difficult to do if the field you are in is already quite full, but by having a message and pushing it, people will be interested and quickly go from passers-by to loyal customers.

Secondly, it boosts sales. Whatever marketing strategies you decide to use, people will be eventually attracted and persuaded to part with their cash. There are many ways to promote what you have available, through: word of mouth, social media, radio, TV, promotions, websites, posters and flyers, any channel that pushes people to use the service that they’ve been offered. Using just one of these mediums is fine, but marketing isn’t always straight forward so by putting all your eggs in one basket could really affect the response to your campaign. By using more than one channel, you are able to target more people, but you’re also got your back covered if one of the avenues isn’t working as well as the others. This will also more than likely lead to an increase in sales and growth of the business.

Also, it pushes your business against competition, allowing your products to stand out against those in the same field. Healthy competition is motivating in the business world. Marketing also looks at sales, and by focusing on pricing and beating other quotes, you’re more than likely to increase sales and create a buzz around your business. It can be difficult to think outside the box when a large market already exists but show customers why they should choose you rather than your competitors and never stop pushing for those sales.

Finally, marketing builds your brand. Your brand is so important so work hard marketing it. Use your colours, push your logo so that people remember it, tell people it’s a lifestyle that they’re buying into. Marketing is so much more than posters and a few tweets. It’s getting into the heads of your potential customers and showing them why they need your products in their life.

Now go and look at how you’re marketing your business. Does it need improving? Let’s get to work!

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