Why is marketing important for the growth of your business?
The importance of marketing in a small business is to achieve growth. The type of growth that is much greater than what you can achieve with a pure sales-focused approach.
But how exactly does Marketing grow your business?
This is the question that very few people ask. They merely “do marketing”, but don’t know how it ties back to revenue. Or, even worse, many do marketing but don’t believe it can actually make an impact. This is not how it should be. You shouldn’t be spending money on marketing just because everyone else does it.
I am often surprised that business owners think marketing is a soft science, yet, everything I read about the subject is aggressive! Notice these aggressive words:
Marketing is about targeting a market, launching a campaign, driving awareness, raising interest, penetrating a new market and building loyalty. Does this sound like passive, unimportant, fluffy stuff?
When a company does not grow fast enough, it is almost certainly in large part due to non- existent, or poor-marketing. A solid marketing plan is the jet fuel that drives growth because it forces you to (a) put the customer at the centre of your business, and (b) speak to as many potential customers as possible.
If you merely want a lifestyle business that moves along at a casual pace, then maybe you should not do marketing. The risk is too big that a good campaign will kick start growth that unsettles that comfortable lifestyle. There are many businesses like this, sustaining themselves from one year to the next purely through the owners network. Don’t do marketing, if you do not want to grow.
If, however, you are serious about taking your business to the next level, whether in B2B or B2C, then taking a serious, strategic, approach to marketing becomes essential. You need to do something extra that raises awareness exponentially and drives brand differentiation. You need to attack the market with your offering. This attack, is called marketing.
Marketing is an aggressive act aimed at achieving serious growth. Don’t do it if you run a lifestyle business!
If you are interested in “How to grow awareness of your business”, do join me for a short talk on Wednesday morning 8 August. Details here: https://www.meetup.com/10-Slider/events/252557649/