The Importance of Marketing Your Business
When starting a business one of the most important things is marketing! There are many people that believe that if you have a business and your product or service is good enough, people will just come. Well this rarely happens, as obviously, if people don’t know about it how will they know to use you? If you don’t let people know about your business not only will you be loosing out but so will they. This is why every business owner needs to know the importance of marketing.
What is marketing?
Marketing is the way in which you will get a majority your customers. Marketing can be from the logo in which you use, to websites and even word of mouth. Marketing will help to understand who your potential customers are; place and price the product compared to the competition and also position the company in the market place. It will also help identify future opportunities for self-promotion. You need to look at marketing as more of an art than a science and remember it doesn’t come over night. Every business owner should spend at least 50% of their time on marketing but unfortunately most see it as an unpleasant task that they have to carry out along side the “main” stuff. This is so untrue. Marketing should run along side as part of the “main” stuff. The marketing is the business!
Why is it important?
Look at marketing this way, if you market your company to one person, that one person usually knows around 250 people and each of them 250 ad so on. So you market correctly you will see the benefits straight away. Without marketing you are loosing out every single day. For example less than 1% of people who visit a typical website spend any money on it! Therefore you could be loosing out of 99% of your website visitors, IF you are not marketing correctly. Other ways in which you could be loosing out by not marketing correctly are in the following:
• Every brochure, letter or email you write that does not build a relationship with the customer.
• Every letter or email you would like to write but simply don’t get around to.
• Every pound you spend on advertising that does not work, but you have more “important” things to do than spend time changing it.
• Every customer that you don’t contact on an ongoing basis for repeat business.
• Everyone who contacts you that is never converted into a customer due to ineffective marketing.
• Everyone who searches Google or another search engine and your website is not shown in the results.
• Every newspaper, radio or TV station you don’t appear on because you think PR is too complicated.
This is only a few way in which you could loose out, if I were to list them all I would have to write a book.
Conclusion
Always remember when marketing the key element is time. You can not know what everyone wants in a day. You need to keep trying with what works and stop with what doesn’t but it also takes time to see what is actually working. Don’t give up just change, and you will see the results sooner than you think.
