Why shouldn’t Marketing be an expense? Find out here! – WAU
If the situation tightens in a company and sales fall, then there is a need to make some cuts. The first thing that goes through the mind? Reduce marketing costs, whether in the team or in the strategies being carried out. Unfortunately, this thinking is still very common within companies. Few identify […]
If the situation tightens in a company and sales fall, then there is a need to make some cuts.
The first thing that goes through the mind? Reduce marketing costs, whether in the team or in the strategies being carried out.
Unfortunately, this thinking is still very common within companies. There are few that identify in the marketing department its real importance: it is not just about making a beautiful graphic piece and some ads on Google Adwords.
The marketing sector is responsible for conducting an internal analysis of the company, analyzing the market, identifying trends, understanding the public, communicating with them in the right way and creating strategies that keep all the stakeholders of your business satisfied in the exchange relations.
Furthermore, in crisis situations, it is this team that will turn the situation around, with well thought out, analyzed market strategies that will really bring results to your business.
Want to understand more? I will cite other benefits of the marketing team in critical times of the company:
1. Marketing helps your company to become stronger
Marketing is responsible for strengthening the company’s image in the market. We are living in a time when quality is no longer a differential: if you really want to have your opportunity, this is the minimum that the consumer requires.
Therefore, it is necessary to discover and highlight its competitive advantages. With an increasingly considerable increase in competition, it is necessary to create a closer relationship with customers – it is necessary to create an affinity, and that is when marketing acts.
If your company is not selling to new customers, it is time to make an even greater effort to strengthen your image in the market.
One of the actions at that moment is to work on the loyalty and well-being of the current customers of your business, making sure that everyone is satisfied, offering discounts, finding out what their preferences are and turning their experiences into something even better.
In this way, we will achieve something valuable these days: indication. People are increasingly considering referrals from friends and family, and it is at this moment that we gain strength.
2. Marketing helps to increase sales
Marketing actions, when well designed, are able to reach the right people, at the right time and with the right message. This is how the increase in sales happens.
The marketing team will be responsible for understanding exactly who their customers are and what their needs are, giving feedback on improvements in the company, products, services and service, for example.
Right now, we have a real money-making machine in hand: who better than the customer to say what he wants to buy and how to make him more and more satisfied?
Along with this, we also have strategies focused on the market: the marketing team is responsible for studying the market and identifying the best opportunities, such as seasonal dates, specific campaigns, partnerships, discounts, etc.
All of this has a direct (and positive) impact on your company’s sales, making it increasingly profitable and profitable.
3. Marketing helps to retain customers
In the market, one thing is certain: it is much easier and cheaper to keep a customer satisfied than to have to win new customers every time.
This is because, in addition to being laborious to acquire new customers, it is also expensive: some customers take months to pay for the acquisition investment, taking time to start making a real profit for the company.
The time the customer stays at your company is called Lifetime Value. This metric is used to identify how long each customer stays with you, to get a sense of the company’s performance – whether it’s favorable or whether we need to take urgent action to improve the numbers.
In this context, we identify customer satisfaction levels and find out what actions we need to take to retain these customers and make them loyal to the brand.
Marketing has a few tasks right now:
- Dialogue with the client to understand what pleases him and what needs to be improved;
- Develop strategies to improve the customer experience;
- Develop loyalty plans that really deliver advantage to customers;
- Develop strategies with CRM to keep the customer always close to the company.
4. Marketing strategies are measurable
One of the most important points in marketing strategies of any kind is measurement.
Digital marketing stands out for the precision of each action: in this sense, it is possible to identify which action led to which sale, where the most customers came from, which actions had the most rejection, how the public behaved towards each of the actions, etc.
Understanding these numbers is essential to optimize investments. Imagine that you are investing in two types of ads on the internet: if you discover that ad A is performing very well, but B rarely takes the user to your store.
It is necessary to review investments and reorganize efforts – in this context, it may be better to cut investments in ad B and leave only A running with a much larger budget, since it generates more results for your company.
This measurement is important both to increase sales and optimize investments, and to get to know your customers better.
With ads A and B running, and A giving results much higher than B, we realize that our client identifies more with the language and image of ad A, and from there, in the next campaigns, it is possible to create actions more efficient.
5. Marketing knows how to reach its consumer
One of the main mistakes in marketing strategies created by companies without the assistance of the professional happens when it comes to identifying the public.
More common than it seems, many entrepreneurs still do not know their audience and create a group that they would like to reach – but that does not always represent the company’s real audience.
The marketing professional, at this moment, is responsible for drawing this audience and presenting it to the entrepreneurs.
Contrary to what we are used to, today we do not define the public as “men and women, age group x and social class y”. This type of definition is too broad for such a specific and demanding audience.
Today, personas are worked on.
Personas are semi-formal representations of the ideal audience, where we identify their personal characteristics such as name, age, interests, goals, difficulties and, of course, the way that we can help these people achieve their goals.
This design of the ideal audience directly impacts sales – the discourse used in the campaigns becomes more assertive, the argument more coherent and everything is adequate for the right moment, at the right time.
Knowing your audience so well, you also come to recognize all of your purchase objections. This gives the sales team a lot of material to work on at the time of sale – and the marketing team with valuable information to work on the communication, clarifying the points of doubt even before making the purchase decision, reducing dropout rates.
6. Marketing brings real – and lasting results
Marketing investments can be divided into three types: short, medium and long term. Each of them brings real results to the company, each in its own way.
The short and medium term actions are aimed at direct sales, usually to those people who are ready to buy. The long-term ones work slower, but longer.
In the case of content marketing and branding strategies, for example, the idea is to create a positive and trustworthy image between the company and the public. These strategies take longer to bring remarkable financial results – however, their consequences are long-lasting.
The better the work done with this type of action, the longer this result will last.
Long-term strategies are essential to increase your company’s competitive edge.
In a market with more and more competitors, the better the image of your company before competitors, the greater your chances of standing out and surviving the times of crisis.
It is very common to find companies that do not invest in long-term strategies, since they all aim for immediate profits.
But the truth is that, when the situation tightens, competition changes and the financial crisis dictates the rules of the market, it is the branding strategies that hold the profits of the business.
7. Marketing saves companies from the crisis
As stated earlier, marketing is responsible for saving companies from the crisis and maintaining profitability even in the most difficult moments of the market.
This is because all actions must be aimed at strengthening the company’s image and customer loyalty. In the crisis or not, loyal customers will be loyal customers, and will maintain their preference for your company, enjoying the benefits it offers and ignoring the competition.
Another key point that helps your company stand out is the indication of satisfied customers. One truth is that, before making purchases, prospects research about other people’s opinions about a certain product or service.
This research takes place over the internet and among colleagues and family members who have already tried the object of interest. These indications are worth much more than any advertisement: it generates a relationship of trust and the purchase objections decrease considerably.
Satisfied customers are responsible for giving these indications, increasing the company’s sales.
In addition, it is necessary to invest in the branding part. After all, the company’s image in the market is everything. It will help your company to get out of the red and turn it into the best solution for end consumers, either by generating value or offering benefits.
The role of marketing here is to develop the best possible communication to pass on all this information
The lack of knowledge about the benefits brought by the marketing team to a company is historic.
However, with the evolution of the market and changes in consumption habits, it is essential, for the sustainability of the business and guarantee of profits, that this knowledge is recognized: the marketing team is fundamental to take any company out of the red in moments like the crisis.
Customer loyalty, investment optimization, strategies focused on sales and branding, if well structured, will make your company survive all the moments of the market, both those of abundance in sales, and those of crisis and downturn in the market.
Do you want to always have results and be a sales machine? The answer is simple: marketing!
* Content produced by the Flammo team