In the 21st century, it is hard to think of a business without a marketing function. The domain of marketing has become integral to businesses, small and large alike. However, some companies, especially small businesses, still function the old-school way with little emphasis on marketing.
So, does marketing really matter?
Can a business succeed by not marketing their offerings to the market?
See, there are millions of businesses worldwide. Most businesses are out there to only make a sale.They just do enough to make ends meet and pay the bills and wages. These companies don’t grow customers after a while, usually once they run out of contacts.
As a small business, if you don’t market your offerings, it will be hard to articulate and communicate value to the marketplace.
It will be tough to compel prospects to convert into paying customers.
Without marketing, people will not know you exist. You may have the best product or service in the world.
But if your customers don’t know that a player like you exists, and that you can solve a problem they are facing in life, they’ll not buy from you.
They won’t even know if you have a solution to their inconveniences!
If you don’t market your products or services, or even build a brand, you end up becoming a commodity.
You won’t be able to charge higher prices for your products, as it is just like a normal product in the market.
Without the knowledge or skill of marketing, you would not be able to –
- Craft a compelling message that turns heads towards your brand
- Convince people to buy from you
- Position yourself as an authority in the market
- Get people to respond to communication
- Persuade buyers to do business
By putting efforts in marketing, you also reduce the role of the sales teams by helping them to not pitch all the time.
Marketing enables sales. It attracts prospective buyers through messaging that communicates value of a product, with the goal of selling the product.
By not marketing your offerings, you are putting yourself at a competitive disadvantage.
Also, a very limited chance to grow and thrive in the future.
Marketing is therefore, a must for modern businesses, and can’t be ignored.