Importance of Marketing for Small Businesses

Marketing Strategy The overall success of any business depends on being able to sell your product or service to customers and to do this most efficiently requires investment in marketing, whether this is in the form of time or money or likely both. Marketing is actually quite a broad term encompassing a variety of different strategies, advertising, promotions and public exposure, for example, however the recurring theme is the aim to expose your product or service to as many potential customers as possible. The take home point when it comes to a business which is unaware of the power of marketing is that you can offer an excellent product or service and one which is in high demand, but if none of your potential customers know about your business you won’t make any sales. To be able to sell your product and or service to customers often times requires a certain level of exposure. This is typically a problem for new businesses which don’t have much presence within their community or lack an online following. For these businesses it is a good idea to invest in an initial advertising campaign or press release, whether online or off, and explain a bit about the business and the products and services on offer. Admittedly, some businesses don’t need much in the way of marketing as there are certain situations which can make it easier to conduct business than others. For example, it might be immediately obvious as to the nature of a business if it’s based in a location which receives a lot of foot traffic, a high street coffee shop, for example, or maybe its a business which sells a product at a low price point which subsequently helps overcome the entry to sales. In many cases marketing can have a snowball effect on sales and developing a customer base. Some initial investment in advertising with the aim of raising awareness for the business and products helps attract customers which then leads to sales. Assuming the product or service is suited to their requirements then your customers are likely to help market your products to their friends who in turn pass it on to their friends and so on. In this sense your customers will organically propagate awareness of your business through word of mouth and this can have a powerful effect on sales and developing a large and diverse customer base. A lot of people who wish to start their own business hesitate to do so as they worry how they’ll compete with established businesses in a limited marketplace. Fortunately, marketing can in some ways help to level the playing field. A marketing campaign can provide a business with a way of reaching potential customers to explain that there is an alternative source for a product and service available at a certain price. Of course, the established business can respond in kind, but often times an equilibrium will be reached whereby different business offering similar products and services assume different places along a price-quality spectrum. When it comes to big business, marketing budgets can be vast and for some this can be off putting. As a small business owner you can start as small as you like, perhaps with a simple cost per click advertising campaign or perhaps including a leaflet with the delivery of a local free newspaper. Whatever the case, it’s up to you to decide what’s best for your business and where to start, however you can be assured that an investment in marketing will be highly likely to benefit the growth and development of your business in the long run. At we offer a variety of marketing products designed to be suitable to businesses of all sizes at different developmental stages. The products are organised using a tiered system to help simplify matters in terms of suitability, however if you require more information please don’t hesitate to contact us.

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