Great marketing is at the heart of every successful business. Some of the world’s best companies’ success (from Coca-Cola to Apple) is the result of two things: great products and great marketing. Marketing reaches far beyond what most people realize. Modern-day marketing includes brand management, sales, market research, and analytics, as well as its commonly-know advertising and public relations aspects. Marketing focuses on putting the company’s best foot forward to each and every consumer, in order to be serve their needs and create the sale. It’s essential to every company and the world. We’ve put together 5 Reasons Why The World Needs Marketing.
- To make more sales. Without a doubt, the main objective of marketing is to increase sales. Many companies have trouble with sales due to general lack of interest. If people don’t know about your product, how are they going to purchase it? If your marketing campaigns are successful, an increase in sales will follow.
- To increase awareness. Raising awareness of your business is essential, especially in its early stages. Although a person who sees your advertisement may not purchase your product the first, second, or even hundredth time, they still will know that your company exists and have a basic understanding of your product or service. With each impression that your business makes on a person, the more likely they are to consider you when searching for your specific product or service, or refer you to their friends.
- To build brand loyalty and trust. With increased awareness comes increased trust. The more a consumer becomes familiar with your brand, the more they will trust your business as a whole. For those who are already your customers, marketing serves as an informant for what’s going on in your company, thus involving your customer in your business. The more a customer knows about the business’s values and goals, the more likely they are willing to prefer that brand over another. This creates brand loyalty.
- To learn about your customers. Marketing is also a useful tool when trying to learn about your customers. A well designed marketing campaign will either show or confirm consumer preferences. Modern marketing also involves a lot of social media in which consumers are able to directly give feedback to the company in a convenient manner. Managing and understanding these interactions is a key part of marketing now, and often has an entire team dedicated to it in larger companies.
- To measure your success. Lastly, marketing analytics allows a business to learn how to test and optimize their campaigns for the most growth and sales. Marketers are able to see how many people clicked on an ad and if that resulted in a sale. One of the most important parts of a marketing campaign is measuring the return on investment afterwards and establishing metrics to gauge the next campaign’s success.
Article by Rachel D.