Both profitability and growth are important and necessary for a company to be successful and remain attractive to investors and analysts. Profitability is, of course, critical to a company surviving long term. Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and sales. Larger businesses will dedicate specific staff and departments for the purpose of marketing. However, it is important to realise that the marketing section of a business needs to work closely with operations, research and development, finance and human resources to check their plans are possible and meet the needs of consumers
Three crucial marketing tips we have compiled here at Invasion to transform your company’s profitability include:
1. Understand marketing at its core
In order to build awareness of your products and services, you have to keep talking to people and sharing the news with prospective consumers. The problem that a lot of entrepreneurs that are just starting up usually face, is that they can often be reluctant to talk about what they’re offering. The false thought exists that people already know what you do, and therefore will find you if they require your products or services. However, it doesn’t always work that way. Your customers have to process a lot of information every day; it is incredibly easy for your message to get lost in the noise of everyone else’s advertisements, so you need to be innovative when trying to “cut through the clutter”.
2. Test more and talk less
The only way you will know if something works is if you stop talking about it and actually go out and test it. At the same time, you have to accept that you will spend money to achieve the right balance. While there are plenty of free ways to market your business, test them and measure the results. You may find the need to balance these opportunities with investments in marketing that return even greater results. An example of this may be boosting a post on Facebook, so that you are reaching a larger demographic than you would be organically.
3. Realise that marketing your business requires goal setting
Social media, content marketing, company blogs and mobile marketing are all great tools. But don’t waste too much time on these tools that you forget to set a clear marketing goal. For example, what overall outcome do you want using certain marketing tools? Is it 14 new clients in the second quarter, or 6,000 new email subscribers within the next 90 days? Whatever your goal is, quantify it and set a target date to work towards.
Overall, profitability and growth go hand in hand in regards to business success and using these three marketing tips may help your business get there quicker!
You can find more information about Invasion here: https://invasion.com/