How To Achieve Business Success Through Marketing
What is it that makes a business successful? What keeps bringing customers back time and time again? There are business success stories everywhere, but they usually give little credit to the one element that can (and will) make or break their business: marketing.
How Does Marketing Fit Into Business?
Marketing means success. It’s easy to say this, but how does marketing bring you success? Marketing introduces your product to the consumer base. It gets the word out about the great product you’re selling. How else are your customers going to know about it unless they stumble onto your webpage or happen upon one of your stores’ locations? Marketing is what will pique their curiosity and get them through your doors (or to your webpage) to buy your products.
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Peter Drucker
Who Does Marketing Benefit?
Everyone! Whether you’re a small business just starting out or an established business that’s well-known by consumers, marketing benefits anyone and everyone. Some businesses may not have as many success stories as others, possibly due to a poor marketing team or ineffective methods, but marketing will grow your business exponentially when used correctly. Marketing also benefits the consumers themselves by alerting them to your product. For example, if they need a non-stick pan but can’t afford expensive brands, your discounted non-stick pan that does the same job is the solution to their problem. You have fulfilled a need, and customers will thank you for it.
How Can I Use Marketing For My Business’ Success?
There are many marketing methods that can help you write your business success story. Both physical and virtual marketing techniques are effective. The number one success tip digital marketers will tell you is to increase your online presence through social media, SEO (Search Engine Optimization) and email content marketing. This helps you establish yourself as an authority in your niche, as well as building credibility. Your reputation online is just as important as the quality of the products you sell.
“Content marketing is based on providing value to your target audience.” Neil Patel
How Much Does Marketing Cost?
It can be expensive. True, there are more cost-effective marketing methods e.g. email content marketing, social media, etc., but you should still expect to spend around 50% of your business’ budget on marketing in your first years. After that, the percentage can vary depending on your type of business and available budget. Just remember – marketing is what’s going to make you money, so don’t be afraid to invest in a plan that will lead to higher traffic, higher sales and a larger customer base. As they say, “You have to spend money to make money!”