WHY MARKETING MATTERS
Marketing is one of the most important elements for any business.
There isn’t much doubt that marketing matters immensely for your brand, your business, and your end-of-year numbers. This is why major brands invest so much in marketing.
Marketing's primary function is to create awareness and interest. Marketing is the first step in connecting with people; it is the primer for relationships to come. Here we’ve listed the top five reasons why marketing matters to business.
- Marketing is all about the customer
Aside from your customer support team, your marketing department’s primary function is to understand who your customers are and what they respond to. Marketing is the only department that’s trained in gathering data, testing campaign methods, and evaluating those tests. This ensures the importance of marketing in business and brand decisions.
- 2. Marketing drives sales
Businesses care about the bottom line. And to boost the bottom line, you need to drive sales. The most effective sales strategy is an inbound one, using marketing. Marketing is central to building up your business’ value offering and producing content that will get a great conversion rate. Marketing helps educate about the brand and this helps create revenue.
- 3. Marketing helps retain your current customers
Acquiring new customers can be six to seven times more expensive than retaining your current ones. To increase your customer retention, have your marketing department measure sentiment and social media activity. Following that, your team can work on finding creative ways to engage and reward customer loyalty with offers and discounts.
- 4. Marketing keeps keep brand consistency
Your marketing department can help manage your brand. This means ensuring that your business communications (such as press releases or blogs) are on-brand and align with your values.
- 5. Marketing encourages sustainable growth
Being so focused on the customer, any growth your marketing team offers is sure to be sustainable. This is due to the way marketing measures data and changes direction when necessary.
It is safe to say that marketing matters because it educates, builds awareness and establishes initial connections. Marketing is leverage for finding and building more and more trusting and sustainable relationships. Astute business leaders recognize that marketing starts the process of relationship building and ultimately sales.