3 main reasons why marketing is important

Kotler and Armstrong define marketing as “the process by which companies create value for customers and build strong relationships with customers in order to get customer value in return.” This definition alone may explain why marketing is important, but let’s outline several reasons why marketing should be a top priority for a small business owner.

1. Marketing creates value in your products and services for your customers.

Most sellers want to know as little as possible to make the sale. Some salespeople need technical specifications and the like, but ultimately, the less they have to learn, the better. This makes sense, because your goal is to make sales. Therefore, marketing must step in and create value for your customer. If you can’t create value for your customers, why would they buy from you? Sometimes they will buy from you once, but will they come back if there is no value?

Often times, business owners don’t take advantage of all the ways they can deliver value to their customers. They get lost in the production or product concept of marketing and end up with marketing myopia. Marketing myopia occurs when a company pays more attention to the product / service than to the value or benefits it offers to the customer. You can’t let this happen to you. Pay attention to your customers and why they buy your products. People buy a Toyota Prius not only because it saves gas, but because it makes them feel greener.

2. Marketing helps build customer relationships.

Everyone puts an emphasis on sales people when it comes to sales. “If the sales team doesn’t work harder, we won’t increase sales,” but this is not necessarily true. It costs three times more to get a new customer than it does to keep an existing one. This means that you must maintain the relationship with your current customers to reduce marketing and sales costs and increase sales.

Properly planned and implemented marketing activities are the only real way to build customer relationships. These activities can include many things: loyalty programs, thank you cards, customer appreciation events, giveaways, etc. Each company must find a unique way to differentiate itself from the competition while building a loyal and lasting relationship.

3. Marketing establishes a brand image.

When you use FedEx to ship, you know what you’re getting: fast delivery, flexible shipping options, and better service than other shippers. Are all these things true? They may be, but their marketing activities established all of this. FedEx will have to live up to these expectations of its brand, but its marketing department configured the customer with this image.

You must use marketing to establish your brand. Customers need to know what to expect from your company based on your brand image. What kind of products and what kind of service will you provide to the customer? Let your marketing tell the story and establish your brand.

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