In most businesses, marketing is an essential area to focus your attention on. If you are involved in marketing, you will know just what a critical role it plays in both attracting customers and helping to drive the business forward into the future. Without effective marketing plans in place, organizations will find it hard to not only be visible but also compete with others in their niche.
One struggle that you may have if you work as a marketing manager is that the importance of what you do is not fully appreciated at a senior level. It can sometimes be hard to convince everyone of the relevance of what you do and get the budget needed to succeed.
If you need to convince your CEO why marketing is so essential for business or you are a CEO looking to understand this area further, read on.
Take a tip from Marketing Guru Stan Gershengoren
Top marketing guru and entrepreneur Stan Gershengoren knows why marketing is so important for all businesses that want to succeed. Here are some great reasons why it makes sense:
- Brand visibility – One of the key benefits of marketing is that it will help your target audience know you exist! Without marketing, no one will know about your company or the fabulous products you offer, and if customers don’t know about you or what you do, then they can’t give you money. Effective marketing will get your service out there and into the public domain.
- Customer contact – Another superb benefit of effective marketing is that it puts you in direct contact with your customers. Social media marketing is an excellent example of this type of thing. It allows you to not only attract new business but also find out what your existing customers like or don’t like from their direct feedback. This information is gold dust and will help you improve your service and generate more revenue.
- Helps build customer loyalty – It is often said that it is cheaper and easier in business to keep an existing customer rather than find a new one. Marketing can help build customer retention and loyalty through keeping in touch with your current customers. It can also help to keep them coming back for more, as they will not forget about you or what you do.
- Helps to drive new product lines or promotions – Effective marketing is a great tool for letting everyone know when you have a new product line coming out. By utilizing email or telephone marketing, you can target existing customers to let them know about a new product that they will be likely to buy. Similarly, effective marketing can help make customers aware of an upcoming sale or promotion you’ll be running to help it succeed.
Marketing is a Key Business Tool
When it comes to business, there is no doubt that marketing is a key area to invest in. Of course, you need to make sure any marketing campaign has a good ROI but, if done correctly, it will help generate more revenue than it costs. Just remember – it will be hard to build a business when no one knows about you!