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Importance of a Marketing Strategy

Importance of a Marketing Strategy

Finally, your business is ready to take off. You’ve done all the hard work of creating a brand for yourself and building a stellar website.

All that is left is the official launch of your business and the sales will start rolling in.

A month has passed since your launch but the sales have been almost nonexistent. Every day you check your stats to see that no one visited your website and no one viewed your Instagram profile.

You’re following all the rules- You have a professional website to mark your online territory. You have a social media account to generate traffic to your site. So why aren’t you making any sales?

The Reason You’re Not Making Any Sales

We are all familiar with the saying that “failing to plan is planning to fail” This statement holds in the world of marketing.

Authority sites such as Investopedia have pointed out poor marketing as one of the reasons businesses fail.

Yes, you might’ve taken the first steps to create an online presence for your brand, but what happens after that?

How consistently do you post on your blog? Is your blog content relevant to your brand? Does your audience find your content helpful?

Your answer to these questions is a clear indicator of why your business isn’t gaining any traction.

Dangers of Not Having a Marketing Strategy

Asides from your business failing within its first year of operations, here are some other challenges that come with not having a marketing strategy:

  • Increased Loss: because you’re missing out on sales opportunities your profits reduce and your losses increase
  • Weak Marketing Campaigns: without a marketing strategy, all your campaigns come out weak and don’t convince your audience to patronize you
  • Deficit Budget: a marketing plan comes with an agreed budget for marketing activities. A lack of one will lead you to spend more than necessary on marketing campaigns

Benefits of Having a Marketing Strategy

Having a marketing strategy in place before your business kicks off will not save you money but generate tons of it. And here’s how:

  •  Increased Brand Visibility: Startups can have a difficult time getting their brand in front of their audience. This issue can easily be tackled with an effective marketing strategy in place.
  • Generates Website Traffic: Anyone with an online presence needs traffic. Traffic equals leads and leads equals sales.
  • Improves Brand Recognition: Ever wondered how people can recognize Nike’s logo wherever they see it? The answer is good marketing. A good marketing strategy can give your brand that level of recognition as well.
  • Speeds up Customer Purchase Decision: People use the internet intending to find an answer or get a solution. If your brand points toward that answer or solution they’re more likely to patronize you.

Conclusion

Your business’s success is largely dependent on its marketing strategy. An effective marketing strategy will create awareness for your brand, improve your brand’s recognition among customers, and boost sales.

At Charm Marketing we care about the future of your business as well as your wellbeing. That’s why our experts handle all the details on your marketing while you live a life that isn’t all business.

Not too keen on working with an external team? Here are 5 Benefits of Working with an Outsourced Marketing Team

Book your marketing session here.

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