Marketing has, in the past been seen as a frivolous ‘nice to have’ yet non-essential aspect to many businesses. Below are just a handful of reasons why having a Marketing Strategy is key to the success of any company and should be a major part of any business plan.
Growth
The most obvious reason for marketing is to help grow your business! You need more customers or you need your existing customers to buy more to achieve growth! But, how do you do that if you people haven’t heard about your company? Yes, you’ve guessed you need marketing to do that!!!
Understanding
Marketing can help you understand who your customers really are. Once you know that, you can understand what it is that make them tick and what they actually want or need, not just what you think they want.
Trust
With that understanding you can start to build trust & relationships with your customers. You can build your brand around what is important to your customer and they will soon associate your company with all things good!!
Competition
Knowing what your competition is doing helps you sets you company apart from them. It gives you a deeper industry knowledge and ultimately helps you understand you customers better. Why do they choose you over and above your competition?
There are many more reasons as to why a company should adopt a marketing strategy but these are fundamentally the key reasons. At its’ most simplistic base, if you don’t understand your customers or know your competition you won’t be able to differentiate and build trust and if your customers don’t trust you they won’t buy from and you won’t grow.
If you’d like to discuss how marketing can help your company grow, drop me an email annabel@beanmarketing.co.uk.