What if you launched a great business but hardly anyone knew about it?
What if you had outstanding products and no one bought them?
Establishing an amazing business is hardly the first step. The heart of a successful business lies in marketing. The art of attracting consumers requires marketing. Without marketing, your company is sitting in the middle of a desert hoping that perhaps more than a tumbleweed will come to your door.
Selling a vision with your product has become vital to the business world. With roughly $4.8 trillion in retail e-commerce sales projected globally by 2021, it would seem that there is ample opportunity for e-commerce businesses to excel. However, nearly 8 out of 10 online stores fail within the first 24 months.
Why? Because many businesses ignore the fact that selling a vision is just as important as selling the product. If your marketing is off, none of your customers will pick up on your vision, and in turn, your product won’t sell.
While your product is crucial to your business’ success, poor marketing in an era of digital and social media obsession will cause your product to quickly become irrelevant.
It’s not the best product that wins, but the best KNOWN product that wins.
Here’s 5 ways marketing is vital to your company’s survival.
Providing a clear understanding of your product is the first step to marketing. Your marketing team should be educating your current and potential customers about your business. Giving your customers an element that will stick in their mind such as demonstration videos, photos, or engaging blog posts will keep their curiosity spiked and push them to come back again and again. A clear and unique brand for your customers to identify with is vital to marketing.
After the initial marketing strategy is put in place, you have to keep your consumer engaged. Your objective should be to form an engaging relationship between your brand and the customer. A relationship that your customer wants to contribute to as well. Keep your customers engaged well after they walk out of your store or click off of your site, and your business will continue to thrive.
The bottom line of every business is to create revenue. Without effective marketing strategies either no one is aware of the product or no one is interested in the product. Building awareness can come in different forms such as:
- emails showcasing new launches
- social media posts
According to Forty, Marketing is food for the business, not medicine. It is a continual process, not a one time fix. Just like to stay healthy humans need to eat each day, in order to sustain a healthy relationship with the customer, businesses need to maintain their marketing campaign.
Marketing is a culmination of the first four reasons listed. If you successfully inform customers, keep them engaged with your product, promote sales, and sustain your customer base, your business will most likely do well and grow as a result. Most (if not all) businesses thrive on acquiring new customers. Marketing secures your business’s future through brand new customer engagement.
Business exist to solve people’s problems. To heal their pain points. To bring light into some of the dark places of their lives.
Marketing is the difference between a business with products that simply exists and a thriving business with products that make a difference in the world.
Marketing is crucial to any business’s success.