10 Reasons Why Marketing is Important | Open Sourced Workplace (2023)

Every year presents its challenges when you own a small business, but recently, it seems like every year has only gotten more difficult. Whether it has to do with an increasingly divided political climate, a global pandemic, or a small local issue, you need to be aware of everything going on to run your business effectively.

Why advertising is more important now than it has ever been before?With marketing, you can analyze the market, expand your business, and increase sales. You can let customers know what you are doing and build mutual trust. Social media is growing, so use it to find potential customers. Achieve higher rankings on search engines with better optimization. Always be reminding people that you exist so that you can take up their brain space as often as possible.

Marketing is one of the most important things you can do for your business, and you always need to be aware of the best ways to advertise.

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1. Market Saturation

Starting a business is easier than it has ever been. The internet provides all of the resources anyone could possibly need to start any kind of business. Because of that, there are more companies saturating any given field than ever before. If you want to have any hope of standing out from your competitors, you need to heavily market yourself in a way that makes you look unique and desirable. If you blend into the ever-expanding crowd of companies, you have a much lower chance of success because you bring nothing interesting to the table.

2. Analyzing Markets

Another benefit that has come with the total computerization of most aspects of business are the ways that companies can conduct market research10 Reasons Why Marketing is Important | Open Sourced Workplace (1). Even small businesses can use software to analyze the behaviors of their clients to decide what the best course of action is for the future. If you know your competition and what they have to offer your potential customers, you will have a better idea of how to beat them. Figure out who your customers could be, what they will likely want, and who they are currently buying from for the best chance of winning them over.

3. Building Trust

Customer loyalty is one of the best ways to keep a consistent stream of income flowing. If your customers like the service you provide and you entice them enough to return, they can make up a large majority of your total business. Use your experience to your advantage. Make it known that you know what you are doing better than anyone else. Ethos makes people trust you. However, you should avoid making baseless claims and instead focus on proving that through customer testimonials and the services you provide to lend credence to your claims.

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4. Search Engine Optimization

10 Reasons Why Marketing is Important | Open Sourced Workplace (2)

One aspect of digital marketing that has risen to prominence through the invention of the internet and various search engines is search engine optimization. Search engine optimization decides which companies will rise to the top when users search for any given combination of words in a search engine. Marketing and causing people to search for your company specifically helps search engines realize that there is a demand for your business based on certain terms. There are other ways to increase your search engine optimization as well, such as purchasing articles to promote your business.

5. Finding Leads

Another type of software that can help your business in terms of digital marketing is software for finding leads. Strategies for retaining existing customers were discussed above, but you cannot rely solely on returning customers; you have to bring in new ones too. You can find new leads in several different ways including software, cold calls, and scooping up unsatisfied clients from your competitors. However, cold calls are often not recommended because they can seem intrusive. Instead, you should focus on more organic ways to contact potential employees. This will make you seem more trustworthy and less creepy.

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6. Social Media Growth

Another new marketing frontier that many companies have begun to tackle recently is social media. Social media is becoming one of the preferred methods of advertising because it is free. If you can learn how to optimize your social media accounts to best appeal to your specific audience, you will be on track to have a boom in business. Not only is social media a great advertising tool, but it also gives you a direct channel of communication with your customers. Customer service is another vital element that your business should always take seriously.

7. Brain Space

One of the most common reasons that people neglect returning to a business is that they simply forget to keep returning. This is why marketing in general is so important. You might think that Pepsi has enough brand recognition to not need advertising anymore, but they want people who have not had a Pepsi in a long time to remember the cool, refreshing taste of the soft drink. This is the concept of living rent-free in the minds of your customers. Always be reminding people that you exist so that you can take up their brain space as often as possible.

8. Boosting Sales

Perhaps the simplest and most important benefit of marketing is the most surface-level one. Effective marketing will boost your sales. Sometimes you can get so obsessed with all the secondary effects you are trying to create that you forget to look at the simple sales figures. More marketing platforms spring up every year, and many of them will be worth your time. Decide where your target demographics spend the most time, and advertise in those places. Run promotions that show off your merchandise. Whatever you decide to do, make it creative, and make it visible.

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9. Humanize Yourself

People like working with and purchasing products from companies that seem empathetic and human10 Reasons Why Marketing is Important | Open Sourced Workplace (5). People do not like dealing with stiff, robotic, automated customer service machines or out-of-touch ads that seem to have little to no understanding of current trends. Do not present yourself as a faceless organization who has an unwavering facade of professionalism unless that is absolutely necessary. Instead, run your social media accounts and advertising campaigns as if you are an individual. Some people will see through the facade, but as long as it comes from a place of genuine caring, your customers will be appreciative.

10. Expanding Your Business

Once you have run your marketing campaigns and have begun gathering data on what your customers respond the best to, you can analyze that data to decide the best steps for your company in the future. You will likely have some idea of the kinds of products that your customers respond to, so you should try to expand your business based on that information if you have the means to do so. Many small business owners are always looking for ways to expand, and if you are ambitious, it could benefit you to be looking for ways to expand as well.

Marketing is arguably the most important part of running a business. After all, even if you have a product to sell, you will not be able to sell it unless people know that it is available. If you are a small entrepreneur without a formal education or a staff of employees, like many people are, these tips are a great way to start on your journey of learning how to market your company. Small businesses are vital to local economies because of the competition and sense of community they provide, so never underestimate how important your business may be to the business ecosystem.

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Why is marketing important in the workplace? ›

Marketing is important because it allows you to share your products and services with a niche audience strategically. It helps you tell, show, and PROVE to people how terrific your business is and how you can help them.

What are the three reasons that marketing is important? ›

The importance of marketing for your business is that it makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan helps in creating and maintaining demand, relevance, reputation, competition, etc.

What are the five importance of marketing? ›

Importance of Marketing – Creation of Demand, Providing Information, Balancing Demand and Supply, Improvement in Life Style, Achieving Higher Sales and a Few Others. Marketing is an important function of business that helps in selling of goods and services and ultimately attaining profit.

What are the reasons for marketing? ›

The purpose of marketing is to help businesses grow efficiently and reach their highest potential for ROI by promoting brands, products and services. Marketing promotions usually focus on boosting content engagement, increasing sales of products and services and growing brand awareness.

What are the 10 benefits of marketing? ›

Top 10 Advantages of Marketing
  • Marketing Widens the Market: ...
  • Marketing Facilitates Exchanges in the Ownership and Possession of Goods and Services: ...
  • Marketing Helps in Optimal Utilization of Resources: ...
  • Marketing Accelerates Other Activities: ...
  • Marketing Increases the National Income: ...
  • Marketing Raises the Standard of Living:

What are the 7 importance of marketing? ›

The 7 functions of marketing are promotion, selling, product/service management, marketing information management, pricing, financing and distribution. Understanding the core functions of marketing can help you better focus your efforts and strategies to support your business.

What are the 6 roles of marketing? ›

The six marketing functions are product/service management, marketing-information management, pricing, distribution, promotion, and selling. These marketing functions involve the activities that focus on understanding customers and making available the products they want.

What are the 7 elements of marketing? ›

The 7 elements of the marketing mix include the following:
  • Product (or Service) Your customer only cares about one thing: what your product or service can do for them. ...
  • Price. Many factors go into a pricing model. ...
  • Promotion. ...
  • Place. ...
  • People. ...
  • Packaging. ...
  • Process.

What are the 10 principles of marketing? ›

Top 10 Principles for Marketing in Today's Digital World
  • Insight comes before inspiration. ...
  • Don't repurpose, re-imagine. ...
  • There's no business without show business. ...
  • Want control? ...
  • It's good to play games with your customers. ...
  • Products are the new services. ...
  • Mobile is where it's at. ...
  • Always keep surprises in-store.
30 Jan 2017

What are the 6 most important features of a marketing plan? ›

So let's cover each of these elements in detail:
  • Business goals.
  • Marketing goals.
  • Target audiences.
  • Messaging.
  • Strategy.
  • Tactics.
  • Budget.
  • Timing.

What are the 8 major marketing functions? ›

There are eight functions are essential to the marketing of all goods and they are: buying, selling, transporting, storing, grading, financing, risk taking, and securing market information.

What are the four purposes of marketing? ›

Product, price, promotion, and place form the four Ps of the marketing mix. These are the key factors that are involved in introducing a product or service to the public.

What is marketing and its benefits? ›

Good marketing helps you gain data and metrics to learn more about your target audience(s), so you can be more targeted in your strategy and advertising. Fact. A targeted marketing strategy based on data about your customers is one of the best ways to develop multiple revenue streams from segmented audiences.

What are the 9 functions of marketing? ›

How Many Marketing Functions are There?
  • Marketing information management. ...
  • Promotion. ...
  • Selling. ...
  • Pricing. ...
  • Product management. ...
  • Financing. ...
  • Distribution.

What are the benefits of marketing to a company? ›

The importance of marketing for a start-up business
  • It spreads your name.
  • It boosts your sales.
  • It helps you gain and retain customers.
  • It enhances your company's reputation.
  • It saves you time.

What are two important benefits of marketing? ›

It tells you why customers should choose your brand, including the benefits, price, and unique selling proposition of your product or service. Marketing also helps strengthen customer relationships and builds engagement, which leads to word-of-mouth and referral marketing.

What is the most important key to successful marketing? ›

One of the most crucial aspects of any effective marketing strategy is the ability to reach your target audience.

What are the 4 key principles of marketing? ›

The 4 basic marketing principles are product, price, place and promotion.

What are 5 examples of marketing? ›

  • Get on the Phone and Cold Call. Whether they call current customers or members of the general public, companies often simply call people up on the phone and offer them services. ...
  • Send a Punchy Newsletter. ...
  • Search Engine Marketing. ...
  • Meeting Customers at Trade Shows. ...
  • Product Placement in Entertainment.

What are the 5 C's of marketing? ›

The 5 C's stand for Company, Collaborators, Customers, Competitors, and Climate. These five categories help perform situational analysis in almost any situation, while also remaining straightforward, simple, and to the point.

What are the 14 P's in marketing? ›

The 14Ps of marketing are:planning,personality,product,people,precision,placement,pliable,price,perception,permission,processes,performance,promotion and place.

What are the 11 P's of marketing? ›

These 11 elements are product, price, place (distribution), promotion, people, process, physical evidence, personal relationships, packaging, positioning and performance.

What are the 8 elements of marketing communication? ›

The eight elements of marketing communication. Advertising, sales promotion, events and experiences (sponsorship), public relations and publicity, direct marketing, interactive marketing, word-of-mouth marketing, and personal selling are what make up the eight tools of marketing communication.

What is the most important part of marketing? ›

Knowing your target customer is the single most important job of any marketer, and it's a job that never ends. While it's something you should work on every day of the year, it's critical to document what you've learned about your customer over the course of the year.

What is marketing in the workplace? ›

What is employee marketing? The definition of employee marketing is how communication teams increase workforce engagement by aligning everyone in the organization around company goals, improving workplace culture, and fostering brand advocacy through relevant messages that successfully drive intended actions.

What are the benefits of effective marketing? ›

The importance of marketing for a start-up business
  • It spreads your name. Good marketing opens in new window helps you to put your products and services at the front of every customer's mind. ...
  • It boosts your sales. ...
  • It helps you gain and retain customers. ...
  • It enhances your company's reputation. ...
  • It saves you time.

What are the 7 element of marketing? ›

Since then, the theory has been expanded into the 7 P's of marketing. Which are: Product, Price, Promotion, Place, People, Packaging, and Process.

What are the 7 rules of marketing? ›

7 Tips To Take Advantage of The Marketing Rule of 7's
  • Know Your Customer. ...
  • Get the Right Marketing Mix. ...
  • Stay Consistent with your Message. ...
  • Stay consistent with your brand. ...
  • Track usage to determine ROI. ...
  • Allow enough time to be effective. ...
  • Follow up with engaged customers.


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