Small business owners put a lot into their business.
The term “blood, sweat and tears” just doesn’t cover it.
It’s their effort, leadership, time, money and other resources that drive business success.
That’s why small business owners must be thoughtful about every dollar spent on business operations.
But for a business owner trying to stretch their limited funds, marketing may seem like a luxury. Unfortunately, that mindset is tragic for your business.
The following article will teach you why marketing is important and must be a priority for every small business owner.
1. Build Brand Awareness with Marketing
For a new business or one without an established reputation, marketing is the channel that allows you to establish yourself as a trusted brand.
One concept of effective branding, driven by successful marketing campaigns, is brand awareness.
This is the measure by which your marketing has penetrated your target market. Brand awareness inspires confidence in your potential customers to buy from you.
While measuring brand awareness can be tricky, the impact isn’t lost on small businesses.
2. Influence Brand Recall
One goal of brand marketing is to induce a phenomenon called brand recall. Brand recall and brand awareness go hand in hand.
Brand awareness is the concept that people in your target audience are familiar with your brand, but brand recall takes it a step further:
- It’s the idea that when someone needs a specific product or service that you offer, they think of your brand first.
For instance, if you operate a local tire and automotive shop in Austin, you want customers to think of your logo when they get a flat.
That’s the permeance of branding that can only be achieved with a strategic plan. Hence, the importance of marketing.
Drive Sales and Conversions with Marketing
Marketing is a vessel with which small business owners can increase sales or conversions on their website.
If the goal is to get people into a store to buy a product, marketing is a way to tell people who you are, where you are located and other important parts of your value proposition.
Aside from sales, conversions can be important to retailers and business owners, specifically those who do business online.
Perhaps your goal is to have a website visitor complete an action like sign up for your weekly mailing list. Using targeted digital marketing, you can drive users to your website and entice them to convert with a strategic call to action.
Sustainability: Why Marketing is Important
Hopefully, you’ve gotten a feel for why marketing is important, just by reading this blog.
We believe that sales, conversions and branding are the main goals of marketing. But marketing does a lot more than that for small businesses, including:
- Positioning your business as a thought leader on specific topics
- Retargeting clients who have bounced from your site or store without a purchase
- Engaging your target market with relevant information
All of these things equate to sustainability for your business within the marketplace. Without marketing, sustainability is much more difficult to achieve, if not impossible.
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