There could be more volume of books and articles written on marketing or market-related topics than on any other business subject that I know.
Research has it that more money is literarily wasted in marketing than in any other human activity (outside government). Yet, it appears that the number one business challenge is in the market, or rather marketing. To many people, marketing is becoming harder as the competition is becoming fiercer each passing day.
Businesses all over the world struggle because they simply haven’t found ways to generate constant streams of customers and how to keep them buying time after time. The success and failure of any business are entirely down to how the business is marketed to its customers.
Marketing, indeed, is a broad discipline. Sometimes, it’s scarcely known to some of us, including those who claim to be experts.
By a simple definition, marketing is everything you do to attract and keep customers in your business. And it is a combination of sense and logic (and sometimes intuition), and connecting them to synchronize with the emotion of the buyer. If the old marketing techniques don’t provide the desired result, it’s very imperative we try something new.
Just a few of us see marketing as glitzy; the rest see it as either frightening, complicated, a burden, a necessary evil, stressful, and sometimes mysterious. As a result, they feel scared, and often time lack the required confidence to market their products or services well to the targeted market. They are probably afraid of failure or rejection. The truth is that if you must remain in business, you must be in control of what goes on in the market, whether you feel like it or not.
Every business is the same. They need a steady supply of clients, and once they’ve got them, they need to keep them. Your business is there to meet a need, and a need is nothing but the market in the true sense of the word.
To succeed in business, you must attain some level of marketing mastery, either as an individual or as an organization. I have done a couple of work for some organizations and enterprises, and most of their worries tilt towards the market and marketing uncertainties.
The big question is: how can we demystify this marketing thing, and make this all-important part of our business life fun?
You don’t need a degree in marketing to be an effective marketer, especially in our unique business environment. No. I have seen people with several marketing qualifications who are still in a big marketing mess! For this piece of writing to be very beneficial to you, you’ve got to lay aside every misconception and ill-feeling you previously harbour regarding marketing. Indeed, marketing can be fun, and I can prove that.
As the marketing environment is dynamic, it’s good that we understand what works in today’s marketplace, and how best to tap into it.
Many business owners and entrepreneurs may have employed almost all the marketing mix – They may have good prices for their wonderful product (or services), know the right places to market them, done their promotions very well, and even played the politics but still miss the profit. I think that something must be wrong with the whole equation.
Marketing is not a department; it is your business. ‘Without marketing, you will not have sales and without sales, you will not have cash flow and without cash flow, your business will die from lack of cash, which is the oxygen to any business’, so said Sabri Suby, a business executive. There is no business except one buys or sells something. And none of those things will happen without marketing.
We would be looking at critical ways to make your marketing fun in our next discussion.
About the Author:
Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR. He maintains a personal blog, www.tonyajah.com where he shares proven business ideas and principles for SMEs.