The heart of a business success lies in its marketing. Most aspects of the business depend on a successful marketing strategy. The overall marketing umbrella covers advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers. Without marketing, a business may offer the best products or services in the world, but none of that matters if nobody knows about it. Without proper marketing, sales may crash and companies will not be able to sustain operating costs.
Marketing has many different functions and it is important to understand how to do each part successfully. In this blog we will give you five major reasons why marketing is important for the overall success of a business.
When trying to engage consumers with their brand, ninety percent of respondents agree that it is becoming increasingly important that their agency uses ‘pull interactions’ rather than traditional ‘push’ campaigns.
A push promotional strategy involves taking the product directly to the customer by whatever means, ensuring the customer is aware of your brand at the point of purchase. Some examples include trade show promotions to encourage retailer demand, direct selling to customers in showrooms, face to face selling, or some kind of free sample promotion. A pull strategy involves motivating customer to seek out your brand in an active process. This may be done through advertising and mass media promotion, word of mouth referrals, as well as sales, promotions and discounts.
Ninety-two percent of respondents said it was ‘somewhat’ or ‘very’ important that agency employees use the technologies that they are recommending. For example, it is important that agency executives regularly use Facebook, Twitter, Instagram, blogs, etc. in their personal social media mix.
A business’ social media networks serve as more channels to share their brand’s voice and content. It has been proven that brands that engage in social media channels enjoy higher loyalty from their customers. There’s a certain feeling of transparency and authenticity when people are able to interact with their favorite brands online.
It’s critical for agencies to have a social media strategy for their clients, not just a random collection of social media tactics. Seventy-seven percent of marketers surveyed ranked strategy at the top of their agency wish list.
Promotional and marketing strategies help an organization effectively utilize the skills of their employees. They can also assist the business in understanding and connecting with clients and customers. Having a solid and well-thought-out marketing plan can help you identify gaps in the marketplace and provide feasible solutions for clients.
Sixty-seven percent of respondents ranked branding at the top of their agency wish list while seventy-six percent ranked creative capabilities as ‘important/very important.’
Branding is the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products. It tells customers what they can expect from the products and services a business provides as well as differentiates their offering from that of their competitors.
It’s no surprise that marketers want an agency that can report on where campaigns succeeded, fell short and where they should be fine-tuned. Sixty-five percent ranked analytics at the top of their agency wish list.
Using marketing analytics allows agencies to identify how each of their marketing initiatives stack up against one another, determine the true ROI (return on investment) of their activities, and understand how well they’re achieving their business goals. As a result of the information they can gather from their marketing analytics, marketers can also diagnose deficiencies in specific channels in their marketing mix, and make adjustments to strategies and tactics to improve their overall marketing program.
Treefrog Marketing is a marketing agency focused on small business and located in Lafayette, Indiana. We specialize in strategic marketing and advertising, graphic design, web design, social media, SEO, and more. For more information, please visit our website. You can also connect with us on Twitter, Facebook, LinkedIn, and Instagram.