Why You Need to Invest in Marketing: Read Our Top 5 Reasons.
“Business has only two functions — marketing and innovation.” Milan Kundera As a business owner or aspiring business owner, there’s a good chance you come in contact with marketing-related content every day. More people, especially entrepreneurs like you, are realizing the importance of marketing and grabbing the bulls by the horn. The reason is that marketing helps businesses in various ways. With in-depth knowledge of marketing, you’d be able to cut costs, determine the trajectory of your products, create strategies that target your customers, etc. Facebook says we only spend 1.7 seconds looking at a magazine ad, 1.5 seconds looking at a poster, and 1 second looking at a digital banner ad. With this short attention span, do you think your product can market itself? I bet not. But with marketing, consumers will tilt in the direction of irrationality. For example, while Aquafina table water and Bigi table water are identical, people would rather spend more on Aquafina than on Bigi. This is because people have come to build associations with these brands. It could be the experiences during the different stages before purchasing the product. It could also be through who they see using the brand. Give people brandless table water and they will tell you it tastes the same. The moment you brand it, their preferences change. Do you know why? Because they have formed opinions from their experience with the brand and what the brand stands for. ALSO SEE: CAN A GOOD PRODUCT MARKET ITSELF As a growing business, marketing has a favorable impact on your company’s bottom line. Deciding not to keep spending money on marketing, could mean sowing the seeds of that business’s demise. The negative impact of this may not be immediate or obvious but it will tell eventually. So the future success of a business is dependent on marketing. Make a commitment to spend on marketing each month whether your business is booming or your phone is silent. So if you need to persuade someone, whether it’s a member of your team, your boss, your business partner, or yourself to start investing in marketing, here are five reasons you may use. Marketing Increases Brand Awareness More people especially those outside your network will get to know about your brand. It’s futile to pump money into a company you do not have plans to promote. Making yourself visible is one approach to making an impact and developing the framing effect if you want to grow big. Invest in marketing to target the “right” audience and get them to know about the values they stand to gain once they come across your product or service. Marketing can facilitate the development of an emotional bond with your audience. Marketing creates culture, status, affiliation, and people like us. Businesses have a lot better chance of their clients (or community) remembering the brand, and mentioning it to others. Consumers develop loyalty to a brand if they can emotionally connect with its product and services. Ever heard of storytelling in marketing? Consumers can choose you above your competition with the help of marketing. The more people get to see and understand a brand’s message, the easier it will be to make better-informed decisions. What makes you unique? Why should they pick you over your competitors? These important messages can be clearly communicated with the use of marketing. Marketing helps in boosting sales. There is no small business that doesn’t want to increase sales. Market your products and services and watch how the sales will rise. Reach a larger audience and automatically increase sales. Marketing is interesting. You get to connect the dots and become more creative. Who wouldn’t want to spend time coming up with concepts that bring in paying clients? When you see a marketing campaign succeed, when your ad campaigns successfully convert into online sales, you get an adrenaline rush. Imagine creating campaigns or coming up with innovative ideas, sharing them with the public, and seeing different positive (even the negative ones spark something at least) reactions from consumers resonating with your brand. The feeling is almost as elating as seeing your name on a Coca-cola bottle during the share a coke campaign. What were the odds of that happening? You can send us a message to help you strengthen your marketing efforts. We would love to be a part of your brand story!
Can A Good Product Market Itself?
By Victoria Oladipo For many brands, marketing is not essential because they believe that they have good products and that those products will market themselves. A good product and great marketing give a better brand positioning than a good product without marketing. One of the greatest myths is that good products will sell and market themselves but if that is your brand’s strategy, you are setting yourself up for failure. Good products won’t get the interaction and conversions you want to track. What will give that to you is marketing. For example, YouTube has over 122 million active users daily and still uses influencer marketing and television commercials to push its product and improve the experience. That is a great product that knows that it doesn’t sell itself. ALSO READ: 5 THINGS TO AVOID IN SOCIAL MEDIA MANAGEMENT Before answers can be provided to this question, what should a good product be defined as? One thing we should all know is that every great product has the power to solve our issues and a unique method of contributing to our daily lives through its functions. No one has ever paid for a product that would not give them the kind of service that they needed from the product. Again, it is important to note that your product is not the only product that provides the same service or that solves the same problem that your product intends to solve. What distinguishes your product from the other products in the market? How you show that difference is through marketing and it’s how you get your value proposition. Also, who determines if a product is good if it has not been tested in the market? A quality product is determined by its users, and it is done through marketing. While a product might seem great from production, it is impossible to conclude that it will sell itself if it is not marketed. There is a need for demand to be created, and this demand is created by effective marketing strategies that would put the product in the face of the audience. Finally, marketing is present in every product and is an intrinsic element of it. Even if the job of marketing isn’t always evident, every product is designed for a certain group of customers whose demands must be considered. This is marketing’s most important function. You can send us a message to provide quality digital marketing services for your business.
