WHY ENTREPRENEURS NEED TO VALUE MARKETING

This is why marketing is such an important tool for entrepreneurs because no business can grow without customers, who hopefully bring sales. Marketing at its core is all about obtaining and retaining customers which is incredibly important for entrepreneurs and the success of their new businesses. Here are a few reasons why entrepreneurs need to value marketing and how it can take their new business to the next level:

Targeting audiences, free PR and customer service

As an entrepreneur you would have already identified a gap in a market and who the target audience is associated with the business that you have established in hopes of providing a solution to the opportunity recognized. Digital marketing and the platforms associated, whether it be social media, websites, SEO or email, all provide tools to give you more insight into who your audience is. This allows you to specifically focus on your target audience and create a more personalized experience for them.

Digital marketing and the shareability of content allow your users to organically spread the word of your business and tell their followers, for example, about your blogs which directs them to your website or sharing your entertaining Instagram Reel to their stories thus leading to more engagement, views and followers for your page. Being able to follow hashtags and pages also gives you access to keeping track of what users are saying about you, and if negative, you can immediately reach out and address their needs head-on.

Investing in your brand is worth

New businesses and frugality usually walk hand-in-hand. This is not necessarily a bad thing because as a new business owner your priority is to keep your business afloat while keeping costs low where you can. This also usually means that marketing is put on the backburner, but in reality, it should be a priority. Marketing is more than just posting on social media and producing ads, it is also about how your brand is presented to the world. The beauty of marketing is that it gives you the power to take reign over your brand image and how you want the public to view your business.

First impressions are always important and your brand value can be associated with your logo, website, mission statement and anything else related to your brand. The quality, colors, visuals and thought behind the designs or statements have a large impact on your customers' perception of your brand. If it is boring or inconsistent or lacks effort and polish then that is exactly the message that your potential clients may have of your brand. It is thus important to take control over your brand image and decide how you want the public to view your business.

Grow your sales

Overall, marketing is simply just a way to improve your sales and thus your revenue, which is of course the very core purpose of any business especially one on the rise. Digital marketing is much more cost-effective than traditional marketing and in our opinion, it provides greater and guaranteed results. New businesses need as much exposure as possible which actually starts before the launch of the brand in order to create suspense and anticipation among potential audiences. The introduction of e-commerce in different channels allows users to make purchases directly on those platforms or direct them straight to your website to make purchases. With the help of content promotion and targeting functions to reach your desired audience, buying products has never been this easy for consumers which means that growing your sales and revenue has also never been simpler and more accessible for businesses.

Timing is everything

With the core purpose of marketing being making people aware of your business and its products or services, the timing of doing so is very understated. In our fast-paced society with new ideas constantly being realized it is a big accomplishment as an entrepreneur if you are able to think of something in a world that has a product, solution or service for every challenge we may come across as individuals. This is also why marketing your product even before its initial launch, as mentioned above, is so important. Unfortunately, someone else may think of that same idea or even be inspired by yours and will essentially “steal your shine”  if they are able to get the word out quicker and more effectively than you can. This missed opportunity causes missed revenue and prevent your business from growing in its early stages.

As an entrepreneur you have already done the most difficult part, thinking of a new idea to make the lives of consumers as easy as possible. But with the help of marketing, you can ensure that the rest of your business journey is as smooth as possible without the worry and doubts of reaching your consumers. To find out more about how you can take your new business to the next level, contact Marketing Eye!

Image: Unsplash Austin Distel