10 Reasons Why You Should Not Stop Marketing Your Business
Do you know why you should not stop marketing your business? To appreciate the importance of marketing for your business, you must first understand its role. Establishing an amazing business is just the first step. To take that business and turn it into a successfully functioning business you will need marketing. Simply put, without marketing your business will fail.
Let’s take a look at why marketing is crucial for your business by first understanding what marketing does for your business.
What does marketing do for your business?
Marketing has several functions and marketing is such a huge area to cover that the possibilities are endless. Marketing can do an array of things for your business, from print to digital presence. We have listed a few key things that marketing does for your business below:
- Information – Marketing informs people why they should be purchasing from your business, what makes your business stand out from the crowd and is there to educate people about your business’s products and services.
- Engaging – Marketing helps to keep customers engaged. You will want to use marketing to build credibility so you can turn first-time customers into life-long fans.
- Reputation enhancer – As a business owner, you will agree that your reputation is one of the most important parts of business. You are only as good as your word and your reputation can be the deciding factor in whether or not someone chooses to work with you, or if they pick one of your competitors. Marketing can help you to put your best self forward, to help you stand out from the crowd.
- Sales – Without marketing, your business, products and services would not be heard of. You would have no leads and no new interests – marketing extends your reach and visibility.
- Growth – Strategic marketing is how your business will excel. If you want your business to succeed and to grow, you will need to concentrate on your marketing strategy plans.
Reasons why you should not stop marketing your business
- You will lose customers
- You will lose leads
- You will lose credibility
- You will fall victim to ineffective tracking
- You will lose sight of budgeting
- You will lose your voice
- You will lose engagement
- You will lose or tarnish your reputation
- You will lose visibility
- You will lose your cutting edge amongst your competitors
Marketing shouldn’t have a pause button – It is an engine
Marketing should be seen as an investment and not an expense – it will pay for itself within time. Brands that increase or maintain their marketing budgets will not only increase their voice, but they will keep and increase their sales margins too.
“The best marketers will be upping, not cutting, their budgets … It’s one of the smartest plays in the advertising and the reason why the likes of Kellogg’s, Procter & Gamble, Lucky Strike, Toyota and Colgate all have a special chapter in their corporate museums devoted to a specific recession… and won the decade that followed as a result” – Mark Ritson, Marketing Week
For more information on what would happen if you cut marketing from your business, take a look at the Forbes article ‘what would happen if the marketing was eliminated from your company’ by clicking on the link below:
Do you have a marketing strategy? Do you invest time and money into the marketing of your business? Maybe you need to cut outgoings and thought about cutting down on marketing – hopefully, this blog has stopped you from doing this. Perhaps you saw marketing as an expense rather than an investment but have been educated on the importance of marketing for your business and instead want to invest more time and money into making marketing for your business a priority. We would love to know what you think about marketing in the comments below.
You can also read one of our previous blogs on a similar topic ‘Do you see marketing as an investment or an expense’ http://littlemc.development-dashboard.co.uk/do-you-see-marketing-as-an-investment-or-an-expense/