Not Sure If Marketing Is In Your Budget? Think Again.
Thousands of new and developing companies are on a tight budget, a budget that does not allow them the same freedom and ability to experiment that established and larger reputable companies have. Marketing, a staple in practically all major brands and industries, is deemed a necessity to help gain and retain a solid customer base. But what about the new, budget-conscious companies that have to think about every dollar they spend? For these brands, marketing dollars are almost always on the chopping block, but why?
What Your Marketing Dollars Really Get You, by JD David, is an enlightening article featured on LinkedIn that said it well: “Marketing is designed to engage, not sell.” Although the effect of utilizing a marketing strategy is not always tangible in terms of return on investment (ROI), it will have a profound and noticeable effect on your brand’s image and the perceived experience it gives customers. Bottom line: it will get customers knocking on your door!
One solid reason marketing works is that it creates an experience that entices customers to walk in your front door. It engages them without their knowing, and without advertising, the experience and effect you want to create around your brand can be lost quickly. So although your sales department may ultimately get your sales, often what gets customers to the point of purchase is seeing your eye-catching commercial or following your social feed filled with useful information. Your marketing efforts are giving the potential customer a first impression, and you want that first impression to stand out. This is what the article is getting at; although it is sometimes hard to see the direct effect of your marketing strategy (or dollars), it’s still an essential component of your brand’s success.
New start-ups, companies having difficult economic times, or those that are re-branding have the greatest need to adopt this way of thinking. Even though marketing dollars may seem like a sacrifice, they will give your brand the ROI that you can’t always see coming, and that will always make a difference.
So the next time you are allocating your brand’s tight budget, remember why you should put some of that towards your marketing strategy.
Don’t forget to take a look at that “What Your Marketing Dollars Really Get You” article featured on LinkedIn, and stop by our website to see what services we can offer your brand.