Marketing is magic! It produces sales that mean profits. How does it do that? Gold Coast Business Marketing look at ten ways.
Builds Reputation
Good guys really do finish first. When you bring your marketing efforts into the community, you leave a positive impression and end up looking like a good company to do business with. Good customers like doing business with good people.
Builds Brand Awareness
The brand is you. It’s everything you are and what you have to offer. If it’s a good story, good marketing makes everyone in your target market aware of it. So when it comes time for your prospects to buy the kind of product or service you have to offer, they think of you first.
Brand Knowledge
In marketing, familiarity doesn’t breed contempt. It breeds confidence the product. We’re all more comfortable with the known than with the unknown. That’s why we all often reach for the same products or go to the same hair dresser or shop at the same stores time and time again. Marketing breeds familiarity. Repeat customers are the reward.
Business Marketing Increases Leads
A lead (like hearing that your cousin’s best friend’s neighbour is looking for just what you have to offer) becomes a prospect. A prospect becomes a customer. A customer becomes a sale. A sale becomes cash flow. And cash flow becomes profit.
Increases Cash Flow
Marketing gets customers into your door. Once they’re there, marketing persuades them to buy–after all, any contact with your customer is marketing. Buying makes the cash register go kah-ching. More kah-chings mean more cash in your pocket.
Ensures Your Survival
What if someone threw a party and no one came? That’s what it’s like if you open your store but don’t tell anyone you’re there or what you do. A few passers-by will stop in, but you’ll need more than them to survive. Marketing brings people to your door.
Increases Market Share
Even the market leader can’t have all the customers. Some can be yours too. Marketing helps you win and keep customers and maybe even steal a few from the competition.
Gives You a Competitive Edge
What do you do best? What do you have to offer your target market that gives you the edge over your competitors? (Remember that faster-working cleaning product.) Marketing finds that factor and shouts it from the roof tops. If it’s better, faster, cheaper, customers will come to get it.
Helps You Select the Right Product Mix
Marketing helps you select the right products to offer your customers. When market conditions change, marketing acts like a garage sale, cleaning out unprofitable stock.
Increases Efficiency
Marketing helps you focus on selling what you do best to the people who are most likely to buy. Marketing helps you do what works and avoid what won’t. By increasing the efficiency of your business, you increase your return on investment.
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