Marketing it is. Everyone, every business, institutions, schools, governments, and organizations wants to grow. And to do that, you need marketing. Marketing is the strongest force towards growth and development nowadays. It is no surprise that some big firms spend more money on marketing than production. Even a closer look at the marketing officers around will show that, they are paid and catered for more than every other department in most organizations.
This is so because marketing brings in more cash and everyone is focused on a long term existence. Producing quality products or services may be a priority but marketing is the key to the revenues every organization is most in need of. You can have a weak product or service in terms of quality, but if the marketing is on point, the cash inflows will always be high. A products’ or service’s quality can always be improved, but it is only marketing that will keep you long enough in the business to get the chance of improving your quality.
So the priority of every organization right now should be marketing. It has numerous benefits and some are discussed below;
- Sales maximization. It is only through marketing that any firm can get the desired target of sales. Every organization engages in marketing to maximize sales. Banks do it, public speakers do it, supermarkets do it, and even governments are doing it. Check the list of the most striving economies, and you will find that it’s full of countries that market themselves highly. So the secret to sales maximization is marketing.
- Profits maximization. Without making more money out of business there is no business. Every business objective is to maximize profits. It is easy to say or write this statement but very hard to achieve it in real life. Operating a business the makes maximum profits is just a dream for many and a reality for just a few. It takes a lot of courage and hard work to make a business harvest maximum profits. The first door to this, is always marketing. Businesses that market highly actually attract huge profits. And it’s not just about marketing anyhow, you have to do it right.
- Stabilizes an economy. Marketing attract sales which leads to increase in the national income of a state and eventually promote economic growth. It also prompts people to spend which increases the population’s purchasing power which is a big motivator for any economic growth and development. The continuous selling and buying engineered by marketing causes a steady growth in the economy which leads to economic stabilization in a country.
- Create uses. The utilization of a product or service is a major mission or purpose for most businesses, and the best way the community or target group can know about the available product or service is through marketing. Giving the information about a product or service, what most people call content marketing nowadays is a very good way to create a use for a product or service. It enables the population to gain free information and knowledge about a product which they put to show. And putting the knowledge to use demands a purchase from the service providers or producers, thus creating a use and a sale on the side of the producers.
- Provides information. Content marketing as stated focuses on information. But also marketing entirely is about passing information from one party to another. These information may not necessarily be used in choosing whether to buy or not, but there are always of benefits to the general public for immediate or future use. Countries that advertise their tourism sector a lot may not receive so many tourists at the moment but will eventually pick up in the future as more tourists gain interest in visiting those particular countries due to the continuous information they get through marketing.
- Improves standards of living. It is through the TV and radio adverts that sometimes we get to know about some specific products or services that improves our wellbeing. All products and services do advertise, from health to kitchen products. This provides us with the information that we use in making buying decisions. We get to know about products and services that improve our lifestyles and way of living, giving us the satisfaction we want and value for money back.
- Gives a brand an identity. Brand identity is a very important aspect of a business in these changing times. Fakes are all over the market and competitors are everywhere. To prosper in the very competitive market, one or an organization must have a strong brand. It takes time to develop a strong brand and this is majorly achieved through endless marketing. You cannot just sleep in the current world. You have to be there, spreading the news about your products or services and that will get you a brand identity unique from the rest, and you will become invisible to your competitors.
- Cheap and easy way of carrying research. If you are thinking of offering a new product or service in the market but worried about the cost of conducting marketing research, worry not. Use your marketing team to carry out the research as they go for their daily runs. These guys know the market and how it works better than any consultancy firm around. First, they will conduct the research at no or minimum cost because they’ll do it while going about their normal runs. They will also spend less time doing the research and yet come out with the best results for decision making. An added advantage will be that, they will consciously or unconsciously market the intended product or service at no cost, hence introducing the product or service on the market hence forth.
- Direct interactions with customers. Marketing campaigns helps most firms get to their last consumer. This direct interaction with the consumer cements the love and trust a consumer has for a particular product or service leading into a niche market, and plays as a major source of information about competitors and their products to the business. It is this act of marketing that gives a product, service, and business a long term existence.
Bringing it all together:
Marketing is the most expensive service today. If you want to make money, then you should either be a marketer yourself or invest heavily in marketing. It will always pay dividends as long as you keep everything else in order.
Stay smart always, and feel free to leave a comment.