Investing in marketing can be scary. You’ve worked hard for your money, and now you’re placing it and your faith in something where the results are unsure. For some, it might seem a bit like gambling. Well, we are here to assure you that investing your money in marketing is nothing like gambling.
Investing in marketing is an investment in your business’s growth, visibility, and sustainability. It allows you to connect with your audience, build a strong brand presence, and ultimately drive positive business outcomes.
Don’t believe us? We understand. That’s why we’re going to demonstrate to you some examples of how and why it’s a gamble not to invest in marketing.
Reasons to Invest in Marketing
A great marketer or marketing team uses strategy and creativity behind all of their marketing decisions. They understand that success in the world of marketing requires a strategic approach to identify and target audiences, coupled with creative ingenuity to capture attention and leave a lasting impression.
Here are 7 benefits our strategic marketing has for our clients.
1. Increased Visibility and Awareness
Marketing efforts help increase the visibility of your brand, products, or services. It creates awareness among your target audience, making them more likely to consider your offerings when making purchasing decisions.
A marketing strategy that works wonders for increasing visibility is Search Engine Optimization (SEO). Utilizing SEO enables your business to secure a prominent position on local search pages, increasing visibility. In fact, the #1 organic result is 10x more likely to receive a click compared to a page in the #10 spot. And what’s even more outstanding is less than 1% of searchers click on the second page of Google results. These statistics clearly indicate the importance of SEO for a business’s visibility on search engines.
SEO is a strategy used not only on search engines like Google but also on social media platforms like Facebook, Instagram, and YouTube. These are platforms that are highly saturated with content; therefore, using SEO strategies to increase visibility is a huge help!
Search Engine Optimization (SEO)
SEO is the practice of optimizing online content to improve its visibility in search engine results. The goal is to increase organic (non-paid) traffic to a website by enhancing its relevance and authority in relation to specific search queries.
Businesses compete with hundreds of local competitors to appear on search engines in front of their audience. Without SEO, this is very difficult. It is likely that your competitors use SEO strategies. Therefore, you are taking a risky gamble if you do not use them.
2. Customer Acquisition & Retention
Effective marketing strategies attract new customers to your business. By reaching out to potential customers through various channels, you expand your customer base and increase the likelihood of converting leads into sales.
There are many methods for customer acquisition, such as running ad campaigns, social media marketing, and SEO marketing.
On the other hand, methods like email marketing and loyalty programs are perfectly suited for customer retention. Marketing is not just about acquiring new customers; it’s also about retaining existing ones. Building and maintaining relationships with your customer base through ongoing communication and engagement can lead to repeat business and long-term customer loyalty.
Without putting effort into marketing campaigns to generate new customers or retain existing customers, you risk being outplayed by brands who invest in strategic marketing.
In the high-stakes game of customer acquisition and retention, successful brands play their cards right by strategically using marketing efforts to grab the attention of new audiences and keep the attention of existing audiences. To compete with these brands without strategy is to compete with poor odds.
3. Brand Positioning
Brand positioning is the strategic process of establishing a distinctive and compelling identity for a brand in the minds of its target audience. Effective brand positioning helps communicate the brand’s purpose, values, and benefits, ultimately shaping how consumers perceive and connect with the brand in the marketplace.
Consistent and strategic messaging helps establish a positive perception of your brand, distinguishing it from competitors in the minds of consumers.
A great example of positioning was done in 1962 by the car rental brand Avis. Avis played off the fact that they were not number 1 in their market. Therefore, they positioned themselves as second in their market, with the slogan: “We’re number two. We try harder.” This brilliant positioning and messaging conveyed that the fact that they were number 2 is what made them work harder.
Not employing brand positioning in business is akin to playing a game of chance, businesses risk inconsistency in messaging, unclear differentiation from competitors, and a lack of intentional customer connections.
4. Competitive Advantage
In a competitive market, marketing allows you to differentiate your products or services. A strong marketing strategy can highlight your unique selling points, giving you a competitive advantage and helping you stand out in the crowded marketplace.
Professional branding is a necessity to stand out amongst competitors. This allows a team of professionals in the marketing industry to conduct thorough research, identify your differentiators, and help you stand out in the eyes of your target audience.
Fail to stand out, and you’ll be left in the shadows. Relying on a chance for someone to discover your business serendipitously is a gamble not worth taking.
5. Revenue Generation
Effective marketing efforts drive sales and revenue. By promoting your products or services to the right audience at the right time, you increase the likelihood of converting leads into paying customers, ultimately contributing to the financial success of your business.
For example, when marketing on social media, it’s essential to identify your target audience to use proper messaging and targeting options. Then, refer to data to assess when your target audience will be most active and schedule your content accordingly.
Failure to do so can lead to the wrong people seeing your content, and the right people not being online when your content is released.
While some of your target audience may view your content by chance, why lower your odds when proper strategy here can increase them immensely?
6. Investor and Stakeholder Confidence
Now, investors are used to playing a risky game, but a good investor always makes informed decisions.
For businesses seeking external investment or partnerships, a strong marketing presence can instill confidence in investors and stakeholders. It demonstrates that the business is proactive, has a clear strategy, and is focused on growth.
Don’t leave your inventors feeling like they’re taking a gamble on your business. Instill confidence in them by demonstrating your efforts to grow.
7. Long-Term Growth
Strategic marketing is essential for sustained business growth. By consistently reaching and expanding your audience, adapting to market trends, and optimizing your approach based on performance data, you set the foundation for long-term success.
All of the above benefits contribute to the growth of your company. Without them, growing your business will be more difficult and risky, similar to gambling.
Don’t Take a Gamble When It Comes to Your Business
Investing in marketing is investing in growth. Whether it be a growth in social media followers, sales, or investor confidence, marketing allows you to have a competitive edge.
While some may perceive marketing as risky, a well-strategized approach guarantees that your brand stands out. On the flip side, neglecting marketing is a gamble in itself—having invested significantly in building a business, relying solely on chance for it to reach the right audience at the right time is a risk.
Don’t leave it to chance; reach out today for a comprehensive marketing needs assessment.
Ready to start your next project?