Why is marketing so important?
We asked ourselves that same question many years ago when we didn’t even think we were going to have the tremendous success we have today.
We see it, we breathe it, we feel it, we hear it… Marketing is the five senses! It has always been so since its birth and it will continue to be so, especially with all that we evolve day by day.
Sales is what all businesses around the world have in common, and the whole process and strategies behind it to make those sales a reality is the discipline that moves us, inspires us and guides us to new buying behaviors.
That discipline is called marketing and it’s our passion…
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And what is marketing?
If we want to understand most of the concepts that this profession entails, perhaps it would be a good idea to first understand what marketing itself is.
The word itself comes from the English language and is a derivative of “Market”.
We’re talking about the study and implementation of sales and promotion objectives that lead to the profitability of a business.
“Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market for profit. Marketing identifies unrealized needs and wants. It defines, measures and quantifies the size of the identified market and the potential profit.” Philip Kotler.
We could also define marketing as a set of techniques, strategies, plans, tactics, actions and processes that aim to communicate, promote and expand offers that give in return a value to a particular audience; and that of course, is translatable into profitability.
Why is marketing so important?
Every company needs to apply marketing strategies to: increase sales, define products or services, create connections with new collaborators or partners, get new customers, build customer loyalty, create a brand, internationalize the company through the media…
And that, in a nutshell, is the reason why digital or offline marketing is so important for any business, no matter how small it is.
As we’ve told you at some point, marketing is the backbone of any business, although other departments such as human resources or accounting are of vital importance; there could be no growth without marketing actions.
5 other reasons why marketing is important for every business
Since we at The Power MBA love lists and everything to do with them, we want to give you these essential reasons that will help you confirm the idea that marketing is vitally important to everything you do:
1. You’ll be able to engage your customers with your venture.
We once told you how important it is that your potential clients have a sense of belonging to your project. This way you will be inside your customers’ minds and you will know which techniques you can apply to make sales without being aggressive.
By involving your customers with your brand or business, you will be able to give them an overview of who is behind it, which generates a sense of trust and they will want to buy what you sell again.
2. You will be able to create a good brand image.
If what you transmit to your potential customers is not exactly an image of reliability, chances are that you will not be able to maintain a balanced flow in the sales of your business.
That’s why we recommend that you work on the image that your brand has in the digital channels in which it lives. So it’s essential that you base all the strategies you carry out on the customer, putting him as a fundamental pillar.
3. You will multiply sales
Having many customers is the dream of every entrepreneur; however, it’s not possible if you first fail to achieve the first objective. Attracting a potential customer is easy if they are already aware of your products or services or have heard about them.
But more important than getting a lot of sales is knowing who you are selling to.
So first you will identify who your target audience is, what features of your products or services are essential to those profiles and how you can provide a post-sales follow-up that is comforting to them.
Most brands nowadays do not take into account that customers have the intention to repeat purchases if they have received good treatment and attention from salespeople.
If this doesn’t happen, it’s unlikely that they will become loyal customers, so you will have to go out looking for new customers. It will be a cycle that will repeat itself until you take action.
4. You will succeed in building customer loyalty
While it is true that all interests are at stake, those of your customers are even more relevant.
You as a company or enterprise will see it as fundamental to be able to have loyal customers who frequently buy what you sell, it’s a must, the liquidity of a business.
However, basing all your marketing strategies on your own interests as a business and without taking into account the wishes of your consumers is a mistake that can lead you to stagnation in sales or to failure in general.
It’s not exactly an encouraging outlook, but the good news is that you are already aware that the future of marketing plans is the customer. Here’s another reason why marketing is so important.
In fact, if you’ve considered the 4 Ps of marketing, you’ll know that there are new developments in the area that show that the P of “Person” must be included. Sometimes it even displaces the product itself.
5. You will make your brand known
One of the usual objectives of a digital marketing plan, is to be able to make a brand known. Especially if the target audience isn’t clear.
So to make your brand known, you must first define very well what actions will lead users to have a first contact with the brand and therefore with the product or service. As you will see, we could spend the whole day talking about why marketing is so important for everyone.
Marketing itself is not just about selling something, but about the whole process behind it, so the sale is not the goal but rather the result.
That is why our education programs exist, because they are the raison d’être of millions of students around the world.
We take very seriously the importance of digital marketing and how it has revolutionized the lives of thousands of entrepreneurs.
If you have not yet taken the official step, we leave you with all the information you need to know to become the digital marketing expert you have dreamed of becoming.
Do you have any questions? Leave them in the comments and we will solve it in no time.