The Importance of Marketing: Why Your Business Won’t Survive Without It

TREAT MARKETING AS AN INVESTMENT NOT AN EXPENSE

We live in the 21th century where technology and social media have been being improved and utilized more than it ever has before. Marketing the right way, will not only keep your business above waters, but it will put you on a journey to thrive. Marketing is the most essential step each business must take. Your company’s recognition and sales determines the level of profitability.

Many, actually most businesses have competition. You may be the kind of owner to sit back and watch other businesses in your field out shine you because you’re content with the place that you are. But think about it, are you reaching our business’ full potential by watching. Well the answer is no. The only way to reach your full potential in any area of life is to do.

In order to survive as a business in this world, you need to market your brand, why you’re different and let people know who you are. Don’t be that company people drive by all the time only to ignore its very existence. Not marketing is selfish. Maybe not for you, but for your employees. Employees leave for better opportunities and higher pay because your business can’t afford to keep them. You’re current employees are upset because they don’t get yearly raises like they expected. Reality is, without marketing, your business is just another business falling off the edges of a cliff.

See, some businesses are so confident that they don’t need marketing. We’ll all I can say is your skidding on thin waters and the water beneath is going to go dry.

Now that I've explained to you why marketing is important, I will explain to you how your business will survive with marketing. 

Marketing Strategy:

Most successful things started out with some kind of strategy. You want your business to be a success right? Well, you have to start with a marketing and business strategy. The most least expensive way to develop a marketing strategy is to hire a full-service marketing firm. That way, you can save on office space and the salary of paying a marketing person who will probably only be working on projects half the time.

With a marketing strategy, you will develop strategic planning, goals and plans of action for gaining market share, increasing brand recognition, and driving in new customers. Treat marketing as an investment and not an expense.

Social Media:

The three most popular social media sites include Facebook with over 900 million active users. Twitter with over 290 million visitors. And LinkedIn with over 250 million active users. Once your business has a presence on at least one the top social media sites, you can use Tier 2 social media sites like Pinterest, Google +, Tumblr and Instagram with 150 million, 126 million, 125 million and 100 million active users respectively.

Businesses need to be where their customers, clients, patients, and/or businesses are. By engaging in some form of social media, you are opening many opportunities for your business and meeting your customers halfway. 

Fortune 500 companies understand and appreciate marketing, that’s why they’re successful. The truth is successful companies never stop marketing. Marketing should always be a priority; it’s a valuable asset, a valuable investment that will make your company survive for the rest of existence. If you don’t believe me, look at companies like Coca-Cola, Royal Dutch Shell and Apple. Now compare those to companies who have failed like Blockbuster, Sears and Liz Claiborne.

“There are three reasons businesses fail: lack of marketing, rejection of changing with technology and ignorance with ethics”

       -Yana Gaines, CEO & President of MIPMT

Visit our website at mipmt.com  or contact us at (248) 956-0246.