A little while ago I had a very intriguing conversation with a small business owner who confidently declared to me that they don’t do #marketing because they don’t need to. It’s easy to understand why they were of this opinion - as shocking as the statement was at the time. Located in a high traffic area, and being the only business at the time to offer what they did - customers were “easy” to come by. That is until competition started popping up nearby and the fear of losing customers set in.
Marketing's job is never done. It's about perpetual motion. We must continue to innovate everyday. - Beth Comstock
Here’s what they and other small #business owners can sometimes miss:
Marketing is way more than advertising. In the example above, I came to understand that they meant that they don’t do #advertising. Oftentimes marketing and advertising are confused as being the same thing. However, advertising albeit important, is merely a part of marketing. From the moment you conceptualise a business that’s where your marketing starts. Marketing is defined as “the process of moving goods and services from concept to customer. It includes product, price, place and promotional strategy.” All of these are important aspects of marketing your business.
As a result of not understanding your own built in marketing, you can often feel threatened by competition, lose focus on your customers and instead try to match what your competitors are doing. This is a losing strategy because while they are innovating, you will be reacting.
Once you are in business you are marketing, whether you know it or not. The key to succeeding is to make what you’re doing more #strategic and more efficient.
Learn to anticipate the market. The most successful companies are customer focused and can anticipate market needs/wants. They don’t fear competition or lose sleep over changes in the market that will inevitably come, because they are already thinking forward.
Customer service really does matter. Even with all the right products/service, pricing/ positioning, and promotional strategy in place, if you neglect good customer service practices it will negatively impact your bottom line. Build customer experience into your marketing strategy. Ensure that your customers feel smart every time they support your business.
If you are ever tempted to think that you don’t do marketing or wonder if marketing is important, ask yourself this question: Why are my customers here and not at {insert your competitors here}? They aren’t with you by chance. They’re there because of your marketing.