As a business owner, it’s easy to feel unsure about the need to develop a marketing plan for your company. With so many things to worry about, marketing can seem like an unnecessary expense. But the truth is, marketing is a crucial part of any business strategy, and without it, your business success will ultimately fall behind your competitors. In this article, SOAR examines why marketing is crucial for businesses regardless of size, and how it can help you achieve your goals.
Why You May Be Skeptical
Companies may overlook marketing for several reasons, including the misconception that their services speak for themselves, previous failed marketing attempts, or plans to remain a small business. However, disregarding marketing for these reasons is not a valid strategy. A well-executed marketing plan can benefit all types of businesses by helping them improve customer retention and attract higher-quality customers. This is useful regardless of a business’s size or growth plans. Additionally, a previous marketing attempt failing doesn’t indicate that other approaches will too- one purpose of an agency in fact is to help you determine the strategy that is actually effective for your company.
Purposes of Marketing
With that established, let’s examine some of the purposes of marketing:
Brand Development: Marketing agencies help businesses to determine their goals and the story they want to tell. They aid in developing the company’s distinctive brand identity through its visuals and voice, then help it communicate to its target audience. A strong brand identity creates an emotional connection with the audience and helps businesses stand out from their competitors.
Brand Awareness: To get businesses, companies must be findable. One of the most valuable things a business can do for themselves is to make their business a visible option to those looking for their services. Consider SEO work, which agencies specialize in. Almost 70% of all online experiences begin with a search engine, but less than 1% of searchers will navigate to Google’s second page. To be an option they consider, your company must make its presence known. Marketing lets businesses communicate their services, values, and mission to their target audience.
Customer Acquisition: One of marketing’s main goals is attracting and acquiring new customers. By identifying their target audience, understanding their needs and preferences, and developing strategies to meet those needs, businesses can grow their revenue and achieve their long-term goals. Whether it’s through advertising, social media, or search engine optimization (SEO), marketing efforts help businesses reach a wider audience, generate leads, and convert those leads into customers.
Customer Retention: Marketing isn’t just about acquiring new customers, however- it’s also about retaining existing ones. To stay ahead of the competition, customer retention is just as important as customer acquisition. Repeat customers are more likely to purchase again, recommend your business to others, and provide valuable feedback. By providing personalized experiences and incentives, businesses can build long-lasting loyalty with their existing clients.
Addressing Common Marketing Concerns
Cost: One of the main concerns businesses raise about marketing is its cost. However, hiring a marketing agency can actually save money in the long run! Agencies employ teams of experts who specialize in different aspects of marketing, which is more cost-effective than hiring a full-time marketing team. Additionally, agencies help businesses create targeted campaigns that are more likely to reach their desired audience, which can increase the return on investment (ROI) of their marketing efforts.
Effectiveness: Some businesses may have had bad experiences with marketing in the past, leading to doubts about its effectiveness. However, working with a reputable agency can help ensure that marketing efforts are targeted and effective. Agencies have access to the latest tools and technologies, as well as specialized professionals- we know what we’re doing!
Time: Business owners may feel that they don’t have enough time to devote to marketing efforts. Once again, this is an area where agencies can help: outsourcing marketing to an agency frees up time and resources for other business priorities.
Complexity: Marketing can seem complex and overwhelming, with so many different tactics and strategies to choose from. Agencies can help simplify the process, ensure that marketing efforts are focused and effective, and handle everything from campaign management to analytics and reporting.
So, no need to be a skeptic! Marketing is a crucial investment for any business that wants to achieve its goals and stay ahead of its competitors. While it’s understandable to feel hesitant about investing in a marketing strategy, not putting one in place is a far bigger risk for a company. Additionally, most of your concerns can be addressed with the help of a reputable marketing agency.
One such agency is SOAR Media! At SOAR, our favorite thing to do is help businesses share their unique stories. Our team of experienced creatives is varied and diverse, and we each have a specialized skill set so we can tailor our work to all your needs. We believe in communication, transparency, and collaboration- we work closely with our clients to determine their goals and creative identity, then develop and implement effective marketing strategies.
With a cost-effective, time-saving solution for their marketing needs, businesses can achieve better results from their marketing efforts and take their business to new heights. Contact SOAR today to learn more!