Marketing is always the heart of every successful enterprise. It depends on the marketing whether an enterprise succeeds or not. Sales, public relations, promotions and advertising are the things that a good marketing should cover.
What is the function of marketing in an enterprise? Basically, it is a process that promotes and introduces a certain service or a product to any possible customers. We may offer our best products in our inventory but without proper marketing, no one would even listen or hear of it.
A primary way to generate customers is marketing. Think of it that way. If the customers do not know what your enterprise has to offer, our enterprise will not gain any of those potential users. A way to inform them that our products are worth their dollar bills is through marketing. Few enterprise owners realize the value of marketing. It is not just merely posting from time to time in the social media or having a knockout sales or a few advertisements. Marketing is more than that. Developing an enticing marketing plan will eventually lead us to the potential customers which would later be a conversion of sales.
Many enterprises would close because without marketing their sales would crash. Now, let’s try to check why this so-called marketing is important in our enterprise.
Marketing informs the market with your business
Got a problem having a product without customers? We can attract more customers in several ways. One would be the social media networks. Try to advertise to people who might be interested in our enterprise directly. Also, we can rely on search engine optimization. These options especially the direct advertisement of our enterprise seems to be effective but might give as the hardest path towards achieving our goals. Well, generally speaking, it is always a must in an enterprise to gain an edge over our competitors and we can achieve this through marketing. Since that is the easiest and most effective way to do.
The service or product of our enterprise must be well-known to the potential customers in order for our enterprise to succeed. If it is unknown all throughout the community, then that will be the time to create awareness of our service or product. This is where the use of marketing strategies comes in if we don’t have any kind of information with our customers.
If we don’t have a proper marketing, the tendency is that our enterprise will lose all the opportunity to expand and become successful. Also, this might cause potential customers to not be aware of what our enterprise has to offer because they are caught in the confusion of our improper marketing. So, by giving a chance to be discovered by the customers, we can use marketing to promote our company.
It boosts up your sales
Our chances of gathering high sales are high if we had advertised our product or service and got it on radar. There is an even greater chance that those new customers will spread the word and relate it their friends or relatives, telling them how amazing our product or service is. The very instant that this becomes a reality, our enterprise will be discovered by more and more potential customers. Also, this also means that our sales will eventually increase. This won’t happen without marketing because we cannot sell any of our products or services without it. By putting our marketing tactics at work, this will help us increase our purchasing customers. So, if you haven’t used any marketing strategies before, without it, there would be no sales and it means an unsuccessful enterprise.
It is always important to nurture our marketing process even though potential customers may desperately need our services or products. Not having to invest in marketing is one of the reasons why many small enterprises close their doors. By generating sales, our marketing plan will turn our enterprise into reality. With proper marketing comes an increase in sales, without sales our enterprise cannot prosper. Our marketing efforts will always be the factor in changing the mindset of our customers.
Marketing creates trust and establish reputation
An enterprise with a trustworthy reputation is the likes where people want to buy. They are always on a fact-finding mission to know that they can trust this enterprise that is selling them a product. For customers, marketing creates a picture for them. People will see a genuine enterprise that aims to fulfill the needs of its customers if the enterprise is marketed correctly. Right marketing equals right satisfaction among customers. Another thing that is important in our enterprise is the reaction of the customers by word of mouth. This builds loyalty among our customers since they invested in our products and services because they believed in us. This is the result of a proper marketing, it builds customer’s trust and in return increase our credibility and reputation.
The one thing that decides whether an enterprise is a failure or not, is the enterprise’s reputation. A good marketing comes in hand if we want to build a brand name. Setting high expectations in the eyes of the public helps us a lot. It makes our enterprise firm and remains standing on a firmer ground. So, whenever our reputation increases it will eventually give as an increase in sales. This could even lead us to an expansion of our enterprise. We have to have effective communication internally and externally in order for use to build a better reputation for our enterprise. This means that we must actively participate in community programs and offer quality products and services. This is to support our marketing efforts and make it worthwhile.
Gives you healthy competition
The point is, having no competition is a BAD thing. We might think that there is no another person who has a piece of idea. Well, think again. Anything that is worth our attention has a form of it around already. It is just like the saying “Everybody’s doing it.” With the more competition, comes the more opportunity. It’s just like if nobody is doing it at all; maybe it is not worth doing. Finding ourselves alone in a market, wondering where the competition is might mean that we are standing alone, with no customers.
The truth is that marketing gives a room for a little healthy competition in the marketplace. While presenting our prices via marketing, it reaches our customers. At the same time, it also reaches the ears of those enterprises in the same industry as ours. This is where competition comes in. Enterprises are competing on trying to win over customers to their side before their competition does. This is also where an enterprise that has a good marketing plan comes out as the winner.
Marketing enables the small and new enterprises to grow and enter the marketplace of a healthy competition. If there is no competition, chances are other enterprises wouldn’t stand a chance against monopoly enterprises. This kind of enterprises hinders the new enterprises from growing and entering the marketplace. That is why marketing creates a healthy competition.
Marketing is an investment, not expenditure
Bear in mind that marketing can be very expensive even though it is important for every business. Just on the very first year, an enterprise may happen to spend almost half of its profits on marketing only.
Our marketing budget will be 30% or more after that. Use the best form of marketing and mix it with the different forms of marketing in order for our company to have the best chance of succeeding. These might be public relations, print and broadcast form of advertisement or as a website development. It could be like trade shows where we design and print materials for some special events. In all of our undertakings, we have to invest in order for us to gain. It is true that it is costly, but a good form of marketing can help us attract potential customers and expand our enterprise productively.