If you’ve been running your business for any length of time at all, you’ve probably done some marketing. Even if you didn’t know that was what you were doing at the time! It’s really common for new (and even not-so-new) business owners to know they need to do ‘marketing’ – but not be sure why, or what it really is. And if you’ve been running your business for a while now, you might be too afraid to ask at this stage! So we’re writing this blog as a way to explain what exactly marketing is, and why every business needs to be doing it.
The Definition of Marketing
Marketing is the catch-all term for a wide range of activities aimed at making people aware of your products and/or services. It also moves beyond awareness and sets out to persuade them to buy from you over the competition. Marketing includes all forms of advertising and the background research needed to make it successful – like consumer research, product design, strategy creation and more. In short, it’s about defining and understanding your customers. and then choosing the most effective way to communicate with them.
What doesn’t come under marketing is sales. While the two are absolutely interlinked – one could not exist without the other – sales is a unique branch of business that focuses on the outcome of marketing.
Why Is Marketing Important?
Marketing is the foundation of every successful business. We’re not exaggerating here-every single one. While other departments like HR might be vital to keep things ticking over, there would be no growth without marketing. No sales. No business to maintain. But we understand that can sound a bit dramatic, so here are 5 other reasons that marketing is important for your business.
Engage Your Customers
Marketing allows you to reach out and communicate directly with your target market in a range of different ways. This creates a sense of belonging and engagement for your customers, which in turn makes you much more memorable. So when they are ready to buy, it’s your business that is cemented in their minds.
Create a Positive Brand Image
Marketing goes you a chance to cultivate a positive image of your business in public perception. Marketing is inherently customer-focused, and by putting your customer in the centre of your messaging you can project any image you want. This is where the conversation about brand voice comes in, because it enables you to decide what impression you want customers to have of your business before you put it out into the world.
Have you ever heard the adage that people can’t buy from you if they don’t know you exist? Marketing is the solution to that problem. Because marketing is all about improving your visibility and convincing people to buy from you, engaging in it will naturally increase your sales. Being proactive and data-driven in your approach means you can significantly boost your sales, and therefore your profits!
Gain Loyal customers
In the modern market, customer loyalty is more important than ever. Your business needs people who will buy from you frequently, and who will share their love of your products with others. This is called ‘organic growth’, and it’s one of the best by-products of marketing there is. By using your marketing to focus on the interests and needs of your customers, you can build a base of loyal followers who will support you with repeat business.
Become a Known Brand
The more you market your business, the more people will become aware of your business. The more people who are aware of your business, the more often your name will come up as part of the buying conversation. Brand awareness is a crucial part of brand growth, and marketing helps you achieve that.
Marketing as a practice is about much more than just selling something. It’s about understanding the goal behind it and embracing the idea that sales are not the goal of marketing, but a result. Just one result in a long list that can immeasurably improve your business. At Lion Saint Media, we understand that marketing doesn’t come easily to everyone- and that many business owners will struggle to find time to fit it in alongside their other business activities. That’s why we provide a full-service marketing service for business owners, whether you’re a one-man band or a large corporation. If you would like to find out more, just get in touch with the team today.