Why Every Business Needs Marketing
What's the point of marketing? Don't marketers just hand out branded pencils and hold long meetings where the word 'synergy' is used with reckless abandon?
While we do love a branded pencil here at Moment, that's not quite our raison d'être. Rather, as marketers, our purpose is to act as consumers' representatives within our clients' businesses.
After all, without consumers, what business would there be to speak of?
Marketing is all about understanding consumers, gaining insight into their desires and working to fulfil them. Communications, an important element of marketing, seeks to reach the right consumers with the right messages in the right locations.
But marketing is only for major corporations with multi-million pound budgets, right? The cleverest amongst you might just be able to predict what we're going to say next... WRONG! Every business needs marketing, and we're about to tell you why...
Growth and Sustainability
Want to grow your business and help it prosper in the long term. Marketing will help you do just that.
Whether you run a local greengrocer, a thriving energy start up or a multi-national corporation, you'll know that anything can happen in business. While things might be great just now, successful businesses didn't get there by chance, but rather, as the result of preparation.
Good marketing can provide a consistent strategy to sustain and grow your business. In fact, marketing agencies "can double businesses in a year or increase sales by 20% each month through creating long-lasting customer relationships that help the business flourish and grow." -Profitworks
Using their expertise, marketers can build relationships with new customers and sustain strong links with existing ones, to keep your business healthy now and in the long term.
As Adam Bell, Technical Director at Moment notes: "Marketing is essentially an investment in the future. By nurturing relationships with current and potential customers now, you're laying the groundwork for them to return to you time and time again."
Without marketing, it is difficult for business growth to take place. Could the greengrocer survive without promoting competitive offers, or educating customers on the quality of the produce? Could the energy start up keep up its momentum without appealing to niche consumers? Could the multi-national corporation sustain its operational costs without retaining its biggest payers year upon year? We're confident that they couldn't - and you can quote us on that.
"But marketing costs money,” we hear you weep in despair, "I'm trying to make money, not spend it."
It's true, whether you're researching competitors, drafting compelling copy to entice new customers or publishing engaging ads, marketing takes investment.
But the return on that investment can be major. Cast your eyes over these impressive stats from OptinMonster:
- 72% of marketers report that content marketing has increased the number of leads their business receives
- Social media marketing can also help customers to discover your company:
- 94% of Twitter users have made a purchase or plan to make one from a business they follow, while;
- 66% found a new business while browsing the site
- When it comes to good old-fashioned search, you won't be surprised to learn that 95% of people don't scroll past the first page, highlighting the value of being amongst the first search results for relevant terms.
And that's just a very brief overview of some of the results certain forms of marketing can achieve for businesses. Plus, a good marketer or marketing agency should be able to help you project an average ROI for your marketing activity before you spend a single penny.
Expertise and experience
Hopefully, we've convinced you of the importance of marketing for your business. Now we're going to try to demonstrate the importance of working with a qualified marketer (or a whole team of them).
If you've ever tried a spot of home improvement only to have to explain to your significant other why the bathroom is now under 3ft of water, you'll know that the DIY approach isn't always the best one. Knowing something in theory is easier than putting it into practice.
Marketers bring expert knowledge to both marketing and communications. They understand the latest trends and resources that are achieving results for businesses in similar sectors, and can report on their activity with clearly defined metrics.
Marketing itself is a vast discipline. From SEO, to social media content, branding, graphic design, web development and more, it's unlikely that any one person will have all the skills necessary to do your company's marketing justice. Agencies can pool their team's expertise to produce impressive campaigns that meet your immediate and long-term requirements.
Moment’s Commercial Director, Gordon Charlton, says: "Whether you're hiring an internal marketing manager or appointing a marketing agency, knowing what results you'd like your business to achieve in six months, a year and even five years' time can help you to identify the sort of talent your business needs to work with.”
When you work with a marketing agency, you also free up time within your business to do what's most important: running your business.
Often, internal marketing managers play the crucial role of overseeing your businesses' entire marketing activity, making sure that the brand is being represented as it should at every point of communication.
Expecting a marketing manager to perform that role as well as tasks like drafting regular content, search engine optimisation, writing press releases and hosting events, is, well... let's go with optimistic.
Adzooma estimates that by appointing a marketing agency, companies could save 35 hours a week on content marketing alone.
On average, businesses spend 10.2% of their annual revenue on marketing (Gartner). Since marketing is such a significant cost, it’s crucial to make that money go as far as possible. Time-efficient marketing agencies like Moment can help you do just that.
Every business needs marketing to survive. But beyond surviving, good marketing will help businesses prosper. Moment employs a 3D approach to marketing. To explore this three-pronged strategy, check out our guide to 3D marketing.
Interested in marketing support for your business? Arrange a pressure-free call with the Moment team.