Why is Marketing Important in Business?

In a world where businesses go head-to-head for the same market, organisations must do all they can to gain the attention of the audience. Many companies have taken to different digital and traditional channels where their consumers are present to reach them at the point where they make purchase decisions.

A company that values growth would build an efficient marketing team, combined with the efforts of other departments, to create a strong brand. 

The major role marketing plays in any organisation is to position the company in consumers’ minds, create associations that make them remember the brand, and boost sales. It utilises a number of communication tools –advertising and promotion, public relations, direct marketing, traditional and new media etc. – to engage consumers and build relationships which in turn leads to sales, customer loyalty and retention.

If you have a good product and it’s not doing well in the marketing, it could be because no one knows it exists or you do not have the right strategies to promote it. A great marketing strategy combined with a valuable product guarantees a successful business. 

There are different teams in marketing that help come up with a solid marketing plan for a company’s product. We’ve highlighted some of the teams and the things they do to give you a better understanding of what goes into getting the right strategy for marketing a product.   

First, we have the Data & Research Team (also known as the business intelligence team) that conducts market research and monitors the industry. They use listening tools and data analytics tools to find out what is being said about the product, the top players and the industry in general. They then pass this information to the brand and strategy teams who come up with the best way to position the product in the conversations.

Secondly, we have Brand or Marketing Managers who ensure that the business is seen in a good light because if consumers do not like a brand they will not buy from it. They monitor marketing channels and also suggest new ones that the organisation should explore. She/he is the middleman between the business owner and the marketing team and between other relevant teams like the sales team and the rest of the marketing team. They ensure that the information is communicated accurately and that everyone is aligned. They also oversee the workflow and output so that it is in line with the business’ goals and objectives.

Next on the list, are the Creatives who are responsible for creating the content strategy for the organisation. This includes the writers and visual teams like illustrators, cinematographers, designers etc. They create engaging and shareable content tailored to each communication channel and visually appealing content that helps make the information easier to consume and enjoyable. The content ranges from informational to educational and entertaining content –all of which aim at selling the products. They can be in form of sales copy, product descriptions, website copy, newsletters, blog posts and articles, content calendars, radio/TV/Digital scripts, press releases etc.

They research topics that the audience would be interested in and other trending topics and ensure the brand has a say. This way, brand visibility is increased, and more eyeballs come to the business. 

Fourthly, the Community Managers. This group is responsible for managing the company’s fans, followers and community. As all the other teams and departments strive to bring in customers, the community managers ensure that they are satisfied with the services provided. 

They are usually also the first point of contact for customer issues and complaints. And they respond to comments, DMs, newsletter replies and so on. And they then help defuse critical situations while redirecting complaints to the right channels. They also use insights from communication channels to make recommendations to other teams responsible for building the products. 

The Digital and Offline Marketing Team are a key part of the marketing team. They explore promotional channels, place advertisements and ensure brand online and offline visibility. They monitor and track campaigns, ensuring the products are properly distributed so when customers search for them they find them with ease.

Finally, the PR Team. This team manages the organisation’s reputation online and offline, and creates crisis management plans in case there is a need for it. They also address the audience when the company is faced with a challenge. And also help communicate major changes that affect internal and external stakeholders.

All of these teams are responsible for making customers aware of your product or service and how and where they can find it. They come together to create a plan with the right tactics to ensure the success of your product or service.

You may be wondering if all the roles are necessary and if it will not be too expensive. But depending on the size of your business, you can choose the most important team members. If you’re a new startup you can choose to dedicate your time to performing some of the roles yourself but if you’re a fully established company, you can invest money into hiring a full team. 

You can also choose different forms of marketing that are less expensive like digital marketing which costs less than traditional advertising and still delivers a huge ROI.

Marketing is not something business owners can afford to not invest in. It may seem complicated but it’s not. As long as team members are consistent with their strategy, it gets simpler to manage and delivers the best results. 

About Prospa

Prospa is a banking and business app for African entrepreneurs. With Prospa, business owners and freelancers have all the tools to start, grow and scale their businesses. 

You can register your business and open a business bank account in 5 minutes straight from the app. You also have access to a full suite of tools that help tackle the challenges many businesses face and make business processes smoother. To get started with Prospa, click here to open an account in 5 minutes.

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