The Importance of Marketing in Business Growth
Every thriving small business has its roots at the center of successful marketing efforts. An organization is not simply promoting its goods or services through marketing; rather, it is performing the critical function of building relationships and understanding the needs of customers in order to develop a long-lasting value proposition for all parties involved.
In the fast-changing and highly competitive world of today, the marketing department is essential in presenting the business, establishing itself as an authority in its field and helping to develop relationships with potential customers by instilling the feeling of trust.
Marketing plays an important role in connecting potential customers with the company’s products or services by first identifying what potential customers want, developing those offerings, and effectively communicating with potential customers using all available means of communication (e.g., print adverising, television, email, internet and social media).
The primary objective of marketing is to establish brand awareness or recognition where customers feel confident in their product offerings and will therefore select it over any competitors. The use of consistent marketing will build a brand identity reflecting an organization’s values and corporate vision.
Data and technology have taken over modern marketing as the means of understanding customer behavior and refining marketing strategies. All forms of analytics, social media and customer feedback enable businesses to make smarter decisions, tailor and personalize their marketing campaigns, and improve their customer experience.
Marketing will also lead to an increase in revenue.
