Tag Archives: brand identity

Why marketing is important in business

question-mark-2492009_1920What is it that makes marketing such an important asset in business ventures? Why should companies focus on growing their marketing department? Product, price, place, and promotion are the four Ps of marketing. Anyone who has completed marketing courses will know this. These four Ps are why you need marketing strategies in your business today.

Sets sales

Product specifications are being marketed to a selected target audience through chosen promotional channels. This is bound to set your sales numbers on a steadily increasing route. This is the department that makes known who you are as a business, what you offer and how you can meet their needs as a potential consumer.

One mistake most companies make in the time of a recession is to cut marketing funds and efforts. Instead of cutting it off completely, rather downscale and be smarter with regards to your marketing efforts and platforms. Consumers may be spending less money during this time but they are still spending money nonetheless. Use that motivation to keep pushing your value product offers and focus more on your already-loyal consumers. You will be one of the few companies with your name still being spoken about.

Marketing makes your business known and without it, your client base would only consist of family, friends, and passers-by.

Builds brand identity and business reputation

Marketing is a platform to build your brand identity, your name is out there and people know what you’re selling, but now it’s time to get to know who you are as a business. It’s important to understand that you are people selling to people. Regardless of how huge your corporate company is, consumers are reassured by the fact that there is a human being on the other side of the line. Social media marketing and profiles is a great way for clients to get an idea of what goes on behind the scenes and can put faces to the names that sign off on their email conversations.

Marketing makes it possible for you to let clients know what your values are as a company and lets you show them how you live them out through your business and offerings. In this way, it helps build your business reputation and helps customers feel comfortable in what they are supporting by choosing to do business with you. It also gives potential customers the insight they need to make the brand switch or give your business a try.

Clever competition

In a world of competitive markets, even the marketing efforts of competitor companies can help you. Marketing is important to stay updated with where the marketplace values lie and, in turn, you can adjust and redirect your marketing strategy accordingly.

When advertising against competitors, keep it fun (not detrimental to the brand of another company) and keep it smart. Make use of the advertising slots in their Facebook and Youtube video campaigns and use their social media profiles to create a target audience segment based on their followers. All’s fair in open advertisement placement.

Channels communication

When it comes to advertising and mass media marketing, there isn’t a lot of room for two-way communication. You are directing data at your target consumer and they just have to take it in. With the rise of social media platforms, there is now the opportunity for consumers to talk back.

Making marketing inclusive means you can better understand what it is people want, need and demand. In turn, you can use this to make sure you are the company they turn to. Tell a story and start a conversation with social media marketing. Encourage comments and sharing and you will have consumers valuing your interaction and you will be gaining ideas for future campaigns and product upgrades.

Inspires innovation

Lastly, marketing is important in business because it inspires innovative thinking. Marketing is an ever-adapting department that needs to be able to manipulate all types of updatable medias and harness the power of whatever is #trending on a weekly or even daily basis. New ideas are constantly sought after to make your business stand out above the rest and bring the edge that consumers are looking for.

Marketing makes the consumers eye-line stop on your product sitting on the shelf instead of browsing over it to land on the more recognisable brands. Marketing is undeniably important in business and you don’t want to find out what your business would be like without it.

Your Rebranding Action Plan

Companies rebrand for many reasons – being under new ownership, changing direction, merging with another company or to modernise their image. Whatever the reason, however, the basic principles of doing it successfully remains the same.

To rebrand in a manner that will see to it that existing customers are retained and new ones acquired, a project plan must be established. During this kick-off phase, key people from within the company must also become involved. The process moves from here to the final phases during which the look is updated and launched. These are the stages we’ll look at in more detail.

Build brand identity

A company’s brand identity comprises those elements that customers see during direct dealings with the business or in the media. Top of the list are the business’s name, its logo, colours and payoff line. These have to work together to establish the desired brand image within the minds of the customers. When everything is signed off, commission the redesign of business cards, notepads, stationery, vehicles and any other customer touch points.

Update the website

While the rebranded website can’t be launched before a company’s intentions have been made public, a new website must be developed and designed in the background. The importance is evident when one considers that many customers first make contact with a company online. This applies not only to the website, but social profiles on the web too. Be sure to also take these into consideration. Together, the parts must form a cohesive whole.

Change the face of the company

With extensive changes to a company logo and colours, the updates will have to be pulled through to the physical building. This could be as simple as contacting signage companies and wall cladding suppliers to replace the old logo with the new one, or it could be as extensive as getting interior decorators in to revamp the entire building. The first solution would be the most cost effective, but a proper business analysis must be completed before deciding on which route to take.

Strategise the launch

This phase is listed last, but should definitely not be left until the last minute. If the launch fails, it could jeopardise the future success of the company.

With that said, it’s vital to answer the following questions:

  • What do we want the customer to know, i.e. what is the message the customer should take away from it all?
  • Through which channels will the launch happen? Don’t pick any channel – go to where the customer is.
  • When will the launch happen? Too soon or too late could be equally harmful.

Perhaps the most important question to answer at every step of the rebranding process is “Have covered absolutely everything?” To make sure that nothing gets left out, double check and triple check. The extra effort will be worth it at the end of a successful rebranding project.