Marketing Works

Marketing should not be considered an expense, but one of the greatest investments in your business. An excellent product or service does not always transcend into immediate sales. After all, how can a business drive sales if no one knows about it? Business owners, entrepreneurs, or new brand managers might spend thousands of hours and funds on developing an outstanding product yet fall short in investing in a strategic marketing campaign.

Marketing is more than just advertising. Good marketing is comprised of several components including insights, defining audiences, telling the story, and using the right mediums to share the message. The amount a business should budget for marketing can vary depending on several factors, including target audiences, the size of the business, strategic goals, and resources in each market segment. Many suggest that a small business should allocate about 8% of their gross revenue to marketing while larger businesses may spend over 20%. This percentage may not include hiring talented personnel or consultants to develop the campaign.

The marketing spend might include components of marketing such as research, surveys, focus groups, branding (or rebranding), public relations and outreach opportunities. Identifying the business goals and objectives will help in the implementation process. All the facets need to work together to gather insight. As Peter Drucker, world-renowned for management and business consulting once said, “the aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself.” The strategies should identify the need and help tell the consumer why the product or services is in their best interest.

There are many ways to reach the audiences in today’s media mix. Whether it is digital or traditional media, the content should work well together and be consistent with the message. Reminder, digital media is any form of media created and distributed to consumers using digital technologies. This includes text, audio, or video. The business website is only one example of digital. All tactics should drive customers to a business website or point of sale or physical location. Traditional media refers to print, billboards, television, and radio. Rather than just focusing on the tactics, identify which mediums will work best to tell the story and reach the right consumer at the right time. The message should remain the same but can be used slightly differently. The personalized approach will help generate more engagement, and ultimately more sales.If you have a new product, service, or well-established business, good marketing will drive sales. Marketing is a business cornerstone. Develop your marketing plan within your business plan starting from day one and watch your investment rise.

Jennifer Bushong, MA is the owner of JBe Marketing Group, LLC., a full-service marketing and communications firm in Washington State. Bushong earned a Master of Arts in Journalism with a concentration in public relations from Kent State University and graduated cum laude with a communication degree from the University of Washington.  To connect, email jennifer@jbemarketinggroup.com or visit www.jbe-marketing.com