5 Reasons To Invest In Marketing

There are many reasons…here’s 5 to kick things off:

1. Marketing is the quickest way to a sale. Great marketing identifies a problem your customer or prospect is experiencing and then provides them with a solution that gives them every reason to buy from you (and not your competition). Think of it like this…the marketer of a business has control of five very big levers labelled Product, Price, Place, Promotion and People. Their challenge is to adjust these levers to positions that make your offer so irresistible and compelling that it’s impossible not to buy from you…that competing with them seems far less desirable.
2. It’s your only (profitable) point-of-difference. Today’s market place (in almost every industry) is one of parity – it’s full of businesses offering the same products, at the same price, delivered in the same way. So how does one stand out? Well, you could be the cheapest…but discounting is a dead-end street as it is quickly copied, and a point is reached where a business can’t be any cheaper or they’ll lose money. Instead, it’s much more effective to be clever in the way you package up product, deliver it in ways that make it easy for them to use it and offer payment options that makes it much easier to say YES than NO!
3. “People can copy what we do, but not who we are” – Martin Daley, the head of People at Virgin Blue, uttered this. In saying so, he was admitting that it was possible for anyone to walk on up and start an airline. That was easy enough! What was much harder for them to do was create a brand that meant something…a brand that defined the business in the minds of its prospects and customers in a way that made them want to be a part of.
4. Great marketing creates a strong brand – A brand is best defined as an emotional attachment. This is not meant in any soppy kind of way. Not at all. The type of emotional attachment we talk about here is one in which you create a brand that clearly demonstrates it understands its target audience. One that shows insight and sympathy for what they are dealing with and provides simple, interesting solutions that make them want to buy from you. Most importantly, once a customer is emotionally connected to your brand it is that much harder for them to look elsewhere as they see real value in what you are offering.
5. Marketing creates a sense of value and meaning – As the previous point indicates, if you spend time building a brand (and remember, you register a business, but you build a brand) then you are inherently creating value for your customers. And a customer, who feels as though they are receiving real value by transacting with you, is generally willing to pay above the odds.

What would you add?

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