The Importance of An Effective Marketing Strategy in Reaching Your Business Goals Establishing an online presence, engaging with consumers, and building trust with your audience will place your brand at the top of mind. A powerful marketing strategy results in these five benefits to drive ROI.
By Grace Kim
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Marketing is one of the most important aspects of a business yet is often underestimated, especially within the startup world. Most startups are tight on resources and often want to get straight to selling. Although an understandably standard action, it can waste significant amounts of time and money.
Most sales staff face the burdens of bringing in leads and converting them. However, having the right tools and support can significantly increase their chances of closing a deal. As important as a sales team is to an organization, a well-versed marketing expert can effectively impact a business in several ways.
Although marketing may not close deals directly, when done right, it is the most powerful tool a brand can use to present its image and engage with consumers. This leads to supporting the sales team by bringing in qualified leads and helping close deals.
Five benefits of a strong marketing strategy:
Research consistently shows that familiarity breeds liking in human-to-human interactions. There's something about seeing someone several times that makes them likable and trustworthy. The same can be applied to brands and companies today.
Brand Familiarity
Brand familiarity is a goal that nearly every business wants to achieve. After all, Edelman's survey results show that 81 percent of consumers need to be able to trust a brand before they buy from them. So how can brands build familiarity and trust with their audience to ensure their sales teams are equipped with the right tools to convert potential buyers?
An effective marketing strategy can take your brand from unknown to familiar and, ultimately, well-known. But that's certainly not the only benefits marketing has.
A marketing strategy has a domino effect. Once a brand begins to market to its target audience, the foundation of your business forms. Your sales team will then lean on a solid foundation and have the right tools to help convert leads across the sales funnel.
Consumer Engagement
With around 4.66 billion active global Internet users, there is no doubt the web is a valuable tool that can open your business to the world of consumers. The greatest thing about it is that it's free, and you have unlimited access to the digital world.
By marketing through various online distribution channels, you have the power of communicating with your audience and having them engage. Through content such as blog and social media posts, new website pages, email campaigns, newsletters, chats, videos on various platforms and more, you'll be able to reach your target audience at numerous touchpoints.
Additionally, the digital world is a platform that encourages participation from all. Consumers are most likely to engage with topics, images and videos that resonate with them, giving your brand a powerful way to interact with consumers, continuously engage them and build trust with them.
Related: How Businesses Can Rethink Customer Engagement
Authenticity and Trust
All businesses start with at least one person having a passionate vision and idea of how their product or service will make an impact. How will your customers know that you have the best solution for them? Furthermore, how can you convince your audience that your brand is unique?
Consumers distrust brands and advertising more than ever before. Nearly 70% of consumers don't trust ads and 71% distrust brands. It's no wonder that more than 81 percent of consumers stated that brand trust is the driving decision of whether they would buy from a company.
Marketing allows you to establish authenticity and trust with your consumers. By appearing on several communication channels, consistently portraying your brand's vision and goals, engaging with your audience, being present and responsive and showing empathy for your customer's pain points, you'll be seen as authentic and build trust with your audience. The result? When your sales rep reaches out to a potential consumer who has engaged with your brand, they're more likely to close a deal.
Earned Media
One of the oldest and cheapest forms of marketing is word-of-mouth. Still, nearly half (48%) of businesses worldwide rely on the power of loyal customers to spread the word about their products or services.
Word-of-mouth is an effective form of marketing because it spreads quickly and easily, it's free, and it's backed by trust. Ninety percent of people, even strangers, are more likely to trust a brand recommended by someone else. In comparison, over 26 percent of people will ultimately avoid a brand if they hear a negative story.
In today's digitized world, word-of-mouth can translate into earned media. Earned media is when another person, company, establishment, social presence, etc., promotes a brand.
Earned media includes:
- Promoting a brand's website.
- Reposting a social image.
- Sharing a social post (whether publicly or privately).
- Tagging the brand in a post.
Establishing an online presence, engaging with consumers, and building trust with your audience will place your brand at top of mind and where others are "talking" about your business. A powerful marketing strategy can bring all of these benefits together so that each point will lead to the next.
Related: 6 Strategies to Maximize Earned Media for Your Brand
Sales Support
Customers keep your business running and growing, which is why your sales team is critical to your business's success. Your sales staff will bring in new customers, but it can be draining to carry the burden of prospecting potential buyers and converting them.
Marketing can support and empower your sales staff by attracting qualified leads. Strategies that speak to a customer's pain points will help engage consumers, relay the brand message and build trust, taking leads down the sales funnel.
Additionally, marketing efforts can reveal specific pain points by seeing how the consumer interacted with the brand. The valuable insights that marketing can bring can help sales staff develop a personalized strategy to approach each lead.
