Gone are the days when throngs of salesmen in penny loafers knocked on businesses’ doors one by one in hopes of introducing, educating, and converting those “blind” prospects into long-term customers. Thirty years ago, there were only a handful of ways prospects could get information from anyone other than your sales force. Now, your marketing department has assumed the role of educating your customers, and your sales team’s role has shrunk to simply converting interested and educated prospects into buyers. Plain and simple, marketing has trumped sales in the corporate hierarchy.
Why Is Marketing So Important?
Can you really sell without marketing? Will people buy something that they do not know anything about? Will they purchase something that they do not find valuable? Marketing is the heart of any business because it brings customers to your business and drives revenue. It is about building relationships with potential customers and maintaining existing ones. There might be many great innovative products and services out there, but if people do not know they exist, they will not buy them.
Marketing today is a complicated game. Back in the 1970’s, your company might have spent almost its entire marketing budget on television commercials to run during I Love Lucy, or bought up a bunch of newspaper ads or radio spots. These choices alone would allow you to reach your target audience. Not anymore. Focusing your marketing efforts with laser accuracy has replaced broadcasting. Now your marketing department needs to know where and how they can reach your targeted demographic.
The Rise of Digital Marketing
Nowadays there are more than 4 billion active internet users globally. The way people shop and purchase goods and services has changed drastically. Modern people prefer the comfort and convenience of the online world. They no longer want to go to a shop or market in order to buy something. Generation Z wants to see your products and services by clicking on their smartphones or laptops.
In this digitalized world, traditional marketing is overpowered by modern marketing. It has taken a new shape in the form of digital marketing that is creating a tremendous value for both businesses and consumers. Contemporary marketing is not only about raising awareness and promoting your products, it is also about getting feedback from consumers and deriving insights from them to improve the products and services offered by the company. Thanks to the current online tools, businesses can identify and segment their target audience, track customer feedback in real time, and alter their campaign strategies and techniques to boost sales and growth of the company. Thus, strong sales are the result of good digital marketing.
Why Are Marketing Strategies Important?
Good marketing is not about several random activities that aim to advertise your brand. It is about a solid strategy that includes your target audience, promotional activities, brand messaging, value proposition, and much more. Marketing strategy is a long-term plan that aims to create brand awareness, understand the preferences and needs of the customers, and ensure the sustainable growth of the business.
Many studies have demonstrated that the majority of consumers buy only from those brands that they trust. Familiarity with the businesses and their products plays a key role in building trust.
A marketing strategy consistently and regularly targets the audiences via multiple channels with a strong brand message. This creates a domino effect that leads to recognition of your brand in the market. Once customers are familiar with you, the chances they will buy from you grow exponentially. A powerful marketing strategy will put your services at the top of mind and create customer loyalty, which results in increased sales and revenue.