Welcome to my first blog in marketing!!!🥳🥳🥳 This is my eighth blog.
Cinderella is a fascinating story. It is a story that can clearly explain what marketing is to a business. I know you think this is crazy. This is a children’s story. How does it relate to the serious world of business? But just read on. You’ll get the point.
Prince charming needs a wife. His father, the King messages the whole kingdom inviting all the maidens to a ball. The ball brings no success to the quest of the prince finding a wife. All they have is a glass slipper of a beautiful maiden, who is a potential candidate for a wife.
What is their next strategy? It is… use the glass slipper to find this beautiful young girl. The prince goes door to door allowing each girl who came to the bouquet to try on the glass slipper.
If the shoe fits… Hopefully, the prince will have found the wife of his dreams. And they should live happily ever after. You definitely know this story and you have read it a dozen times when you were young.
So where is the marketing concept in this children’s book? Well…let’s start by defining marketing.
Marketing refers to the activities a business or a company undertakes to promote the buying or selling of their products or services. It will include advertising, selling and delivering products to consumers or other businesses. This is according to Investopedia.
Now to Cinderella. The King succeeded at his quest of finding his son a wife. He did this by making sure that everyone in his kingdom was aware of his intentions. If he just sat down and wistfully thought he needed a wife for his son and did nothing. Let’s just say he would be building castles in the air. He let his kingdom know his need and he eventually got what he wanted.
Okay…., the king is not a business and the kingdom is not a market. But you can try and relate this to business. The king told of his need and it worked.
This is the same for any kind of business. Having the best products in the market doesn’t guarantee you that all your products will fly off the shelf at a supersonic speed. I know any marketer worth their salt can’t guarantee any business owner this.
Even if you are the only one who can produce this particular type of product. And everyone needs it. If the world doesn’t know you produce or sell this product. Then you are as good as not having this product.
This is where marketing comes in to save the day. With just a little bit or even larger bits of marketing. It will certainly make a huge difference to your business.
I am going to convince you why marketing your business is very important. Ahead are five of the major reasons why it is important you market your business. Here we go…
1.Marketing sells your products.
You have done everything that deals with coming up with the right product. Now it’s time for you to reap the fruits of your hard work and sell this product.
In one way or another you have to let your targeted customer know that you have the product they need. You have to advertise your business.
Advertising your business would simply mean making your customer know that you have a particular product they need or want. And encouraging them to come and buy it.
Whether it’s as simple as writing the name of your shop or as complicated as placing an advertisement on television or the internet. Allowing your customers to know about your product will attract them to your business. This will ensure you the sale of your products.
According to mayple.com the average ROI on Google ads is 200%. This means that every $1 spent on a Google ad. It will get an average return of $2. This is definitely a good thing for your budget. It means sales!!!
2. Marketing helps you to maintain a relationship with your customer.
You need your customer to come today, tomorrow, again and again and again. Something needs to persuade your customer. He or she needs to be reminded of the value of your products and services. And why they should come back again to get the same value they got before or a better value.
And this is where marketing your business comes in. Whether it’s placing an advertisement on the media or giving an offer. Better, reducing the price by a certain percentage. Or even offering the product for free for a particular period of time.All these strategies are in one way or another supposed to engage the customer. And persuade him or her to buy the same product repeatedly.
Outgrowco.medium.com customer engagement statistics in 2020 seem to prove this point. It’s statistics state that 61% of customers believe that surprise gifts and offers are the best way to engage customers.
These gifts will definitely keep them coming back!!
3. Marketing builds a reputation for your business.
Your customer can be convinced of the goodness of your business to keep buying from you. All he or she needs to believe is you are up to some good. And you do add value to them or their communities, country or even the world.
When a customer or two believe this. They easily spread the good news of your business. This builds the reputation of your business which may eventually lead to the increase of your sales.This reputation is further enhanced by different marketing activities that you undertake to build more on your reputation.Whether it’s placing an advert on any media, creating an email campaign, building a website for your business with an engaging copy that reflects the business unique brand voice.
All these and other marketing activities enhance the trust and credibility of your business. Hence building the reputation of your business.
Oberlo.com states that a good email marketing campaign will deliver good returns on your marketing investment. It says that for every dollar spent on email marketing, you can expect an average return $ 42( DMA 2019).
So build your image while you are marketing. It is worth it.
4. Marketing helps you to find customers for your products or services.
One of the nagging or worrying questions in the mind of many new business owners is whether they will find any customers to buy their products or consume their services. But the cure to this worry should be to market their products and services.
Again to the definition of marketing. It refers to the activities a company or a business undertakes to promote the buying or selling of a service. Hence whether they create awareness of their products through social media marketing, place an advert on television, shout the prices of your products or play a voice recording of you advertising your products in the market.
All these creative ways will create awareness of the existence of your product. Thus new customers can eventually be attracted to your business.
5. Marketing leads to the growth of your business.
As a business, you have maintained a specific target market for a while. But now you want to expand and conquer new ones. Marketing is the solution for you. When you strategically market your products through new channels from the ones you are used to. The new channels can be digital marketing or any other.
If digital marketing, there are strategies such as social media marketing, email marketing content, SEO etc. Any of these strategies can help you capture new audiences and may lead you to acquiring new markets.
These strategies are very good as they allow you to get feedback from your customers. You can use these feedback to better your services or develop new products. This can lead to attracting new or more customers. This will eventually lead to the growth of your business.
Those are the major five reasons why it is critical for you to market your business. I hope you are now convinced that marketingvmarketing important for your business.