Marketing has long been a match for us. But nowadays, marketing has evolved a lot as well. There are new marketing processes that people may not have thought about before. In this article, we’ll look at how important marketing is, which I have many examples that would be suitable for businesses in many industries. And in each situation, Let’s try it.
How important is marketing?
Marketing is the primary variable that helps businesses sell their products and services. This will enable businesses to achieve their goals of increasing sales and profits through various methods, including market study, reaching new customers. Attracting old customers Or making the business able to compete with other competitors.
Although I would say, marketing helps to increase sales. But if we really look at it, we can see that marketing affects many business parts. Especially in the matter of customer perspective and enhancing the competitiveness of the company.
Marketing priorities include:
# 1 increasing sales
Increasing sales is a boon that everyone likes. Importantly, sales are tangible and easy to measure. Therefore, businesses are most concerned with increasing sales from marketing.
If we come to think about it, Businesses are actually costly, whether it is the cost of products and services Employee Hiring Expenses. The subject of the rent at the decoration cost Or even water, electricity and taxes. However, a business’s opportunity to earn additional income or sales is solely from marketing and sales. Therefore, in this area, many businesses have to focus on marketing like casinos online.
One more thing to explain is that most businesses need to continually ‘increase sales, increase revenue, increase profits’ every year. This may be because the business owner wants his own business to grow. Some shareholders and investors pressure people to do business (For example, businesses in the stock market). With these pressures, many businesses have to increase their marketing budgets every year. To make sales grow
# 2 finding new customers
Although acquiring new customers increases sales and profits for companies such as the ‘new customer segment,’ it is important to the business. Which I think I need to explain a little bit further.
New businesses that do not have many old customers (In business language) means that there has not yet been a predictable future income from old customers who will come back to buy often). Finding new customers is very important because
1) First of all, it is a matter of sales. And the profit that businesses have to achieve to meet their goals. Otherwise, the business will not be able to continue to open, and
2) having customers keep coming in will make the business spin. This will allow us to pay more expenses Even if there is not a lot of profit
On the other hand, Businesses that have been open for a long time and can live with a single old customer are likely to encounter problems when consumer behavior changes or new technologies are introduced, which these businesses will be able to find a lot of benefits from marketing to attract new customers.
# 3 make you understand your customers better
The customer is the heart of business and marketing. Without business customers, they wouldn’t be able to sell. However, from a marketing point of view, the ‘customer’ is not the one with whom we will be maximizing the amount of money to get the most profit. But the customer is the person that we should understand as much as possible so that we can serve or help customers be the best.
If we understand customers well, Many marketing activities will be easier to do. Whether it is selecting products to sell, Choosing a sales channel, setting a price, or even organizing a promotion.
The opportunities that will follow after you have a better understanding of your customers are… It will be easier for you to make business decisions. If you have been in a business or have previously worked, You probably understand that there are many decisions to make each day. And many of these decisions are ones that you have never made before. Therefore various marketing activities such as market surveys, Questionnaires, Or interviewing clients will make it easier for you to make many decisions.
# 4 Make Business Survive More Competitions
In the past, I have been talking a lot about business and sales from a customer perspective. However, another equally important factor is the issue of various competitors.
Undeniably, the world of business lies beyond the business itself and the customers. In many industries or multiple sales channels, The next business will always have competitors. Or at least there will be a replacement product. (For example, if we find the best high roller casinos USA, then others will find an alternative site for them)
In this respect, many people view marketing as making your business stand out from the competition and stand out from the customers’ eyes, whether it is a matter of different packaging design, Celebrity collaboration, Or even building a brand.
In a nutshell, businesses that don’t want to be stolen by their competitors must also focus on marketing.
# 5 extend product life for a long time
The easiest way to describe this is to understand that each item will have its life. The easiest example is those of technology products and IT products.
In the old days, people used ordinary mobile phones. But these normal phones die when new phones like smartphones arrive.
In this section, if we incorporate marketing into the sales process, we may extend the period of product sales, perhaps increasing from 1 year to 2 years, or it may be able to extend the duration of 10.
But extending product life and business is not limited to technology products. Any other product, whether it is food, clothing, or even a home and residence, all have their own ages. Someday, a new product will be replaced.
# 6 Some businesses just can’t come up without marketing.
If I explain the product and product In this section in the last section, I would like to talk about some corporate business matters.
The simplest example is a business that requires a large number of customers to sell at a profit. In the old days, it was a large number of manufacturing factories. But nowadays, it may also include new online businesses like Lazada Grab.
Some businesses cannot be profitable from the early days. It means that these businesses have to attract customers. (Or users or consumers) to the number of millions of people to be able to see substantial profits. In the long run, if you can keep customers for a long time, you will make a lot of profit.
Because of this, if there are no variables like marketing to help. (Including investing millions of baht), we would not be able to see these businesses grow. Many people call this business model innovation.
Finally, about the importance of marketing.
I want to emphasize once again that many businesses cannot survive without marketing. However, the term ‘marketing’ does not include just doing billboards or hiring people to review products.
Many businesses have hidden marketing, whether it is a pricing technique Product design to suit the user. Or even teaching salespeople how to speak so customers can more easily recognize brands.