These days, companies have to do more than just survive amid the abundance of competition and new technology readily available, making it easy for people to find products or services online. Emphatically, they have to GROW AND THRIVE – which requires marketing. Continuously developing your digital marketing plan is a great way to ensure that your business doesn’t stagnate at a certain level of success.
We’ve provided seven reasons why successful companies continue to market their businesses. Feel free to get straight to the marketing points or read on!
Get straight to the marketing points!
- Maintain business success
- See marketing as an investment, rather than an expense
- Gain immediate returns on new products and services
- Protect yourself from inevitable market changes
- Influence company brand perceptions
- Solve problems
- Secure your business future
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Why Successful Companies Continue Developing Their Digital Marketing Plans
Today’s business leaders recognize that the digital industry is no longer a fad but a significant part of enterprise survival. Moreover, online business marketing continues to grow and innovate with each passing year. Companies now realize that if they don’t keep working on their digital marketing plan, they’re setting themselves up for failure.
1. Companies want to remain successful.
The main reason you continue marketing your business is to remain successful. (Addressing meeting the ever-changing needs of your customers should be at this point because it is significant.) Each time you advertise your company, you communicate directly to your current and potential customers. For instance, through marketing, you’re telling customers what your business does, why considering your products and services is worth their time, and why they should choose you over the competition.
Take Amazon, for example. They remain successful because they continue to develop their digital marketing plan to meet the ever-changing needs of consumers. From marketing their Prime services to the everyday consumer to promoting their new “business” membership accounts – they’re always thinking about how to keep customers coming back for more.
2. They see marketing as an investment, not an expense.
Great business leaders know it takes money to make money – allocate and invest money, that is. Moreover, they understand that marketing is also a part of making suitable investments in their company. Marketing can pay immediate dividends through delivering quality leads. However, to experience the long-term health and value it can bring to your business, you must consistently support and follow through with each effort within your organization.
Stopping and starting any marketing campaign can put you at a disadvantage and end up costing you more money in the long run. For example, ramping up new staff or new marketing vendors becomes more expensive than a strategic investment. Therefore, successful companies find it easier, faster, and cheaper to make incremental improvements to their marketing programs instead of reinventing and adapting programs to new audiences, new regulations, and new technologies. Every pause costs you time and opens the door for your competitors to take your position in the market.
Marketing’s purpose isn’t “growth hacking” or compensating for a short-term revenue shortfall. Instead, we believe marketing is “in-it-to-win-it” over the lifespan of your company, mainly when you apply it appropriately. Simply put, digital marketing is making a strategic investment to reach your ideal target audience1 while also increasing your brand’s visibility and relevance.
3. Businesses desire to experience immediate returns when launching new product lines and services.
By continuously developing their digital marketing plans, company owners are setting themselves up for immediate success when it comes time to introduce new products and services.
Because they have already made an effort to build relationships with their audience, come launch time, these individuals already have a wealth of information about their customers. The more you know, the more you can tailor your message and new products or services to meet your customers’ needs. When you take time to build customer relations and understand their needs, you’re assured of two things:
- Your company is providing customers with precisely what they want or need, and
- You’re helping to increase brand loyalty
4. They see marketing as a means of protection from uncontrollable and inevitable changes.
With so much change occurring globally, it’s impossible to predict how the marketplace will change. However, by continuing to market when business is good or struggling, you protect your company from unforeseen changes and shifts.
For example, global pandemics, tariffs resulting in financial penalties, increased costs of doing business, and even tax code changes can all impact the way you do business. These shifts can also affect your cost of goods. And unfortunately, when costs go up, the first instinct is to pass the added costs onto consumers. But if customers are accustomed to paying a specific price, or your competitors are pushing to compete on price, you’ll need to find a way to absorb some of these costs.
Thankfully, if you’re consistently advertising digitally and maintaining a strategic plan, you can well-position your company to respond agilely to shifts in the marketplace. You can also locate new opportunities among your existing audience and communicate reliability, allowing you to weather change more efficiently.
5. Owners understand that digital marketing influences the perception of their company.
As successful businesses constantly market their products/services, they also have the opportunity to influence the perception of their company. So, when consumers see a business continually evolving, improving, innovating, meeting needs, or exceeding expectations, they also perceive that it’s worth the investment.
When you learn to leverage digital marketing as a tool to convey vital enhancements based on how users interact with products and services, customers see that you’re tailoring to their needs. So, make sure customers and potential clients understand that you’re not a business that settles2 but continues to innovate!
6. They haven’t forgotten that marketing also provides opportunities to solve business problems.
Successful companies don’t just market their business for the sake of doing something. They do it because they see it as a way to solve business problems. Marketing is an opportunity to gain new customers through acquiring qualified leads and build relationships with existing ones.
So, when they continuously develop their digital marketing plan, they create a means of reaching their business goals. Simultaneously, they help find new solutions to unforeseen business problems. Improving customer retention and sales goals are examples of solutions in which marketing can solve.
7. Successful companies believe digital marketing can help secure their future longevity.
Finally, the single most important reason for engaging in active, ongoing marketing is simply that it secures a company’s future. And businesses today know that continuously working on digital marketing development and building a solid database is the only practical way to accomplish sustainability and longevity.
Marketing creates business by making customers aware of your company’s products or services and assuring them of your capacity to quickly and effectively solve their problems. In other words, marketing keeps consumers coming back and keeps business rolling. Without it, you’re letting the competition gain a foothold in your industry. However, the right digital marketing plan helps you plant the seeds for the future of your company.
We understand if you have a lot of business activity going on today, but will that activity still be there in six months? A year? Three years? Know that savvy CEOs, small business owners, and marketers don’t leave their future up to chance. Instead, they’re planting seeds now that they can harvest next season.
The marketplace is constantly evolving – so should your business.
Your digital marketing strategy isn’t a one-and-done deal. It’s a continuous process that will change, adapt, and grow as you learn more about your business and its customers. And as the world of online advertising continues to evolve, it means your digital marketing strategy must do the same.
Undoubtedly, many companies and thriving businesses need professional outsourced marketing partners to ensure success in all their endeavors. When you’re ready, we’re here to help. Connect with BUILDINGBLOCKS online and share your story with us today. However, for immediate assistance, give us a call at 281-203-0529.
We look forward to hearing from you!