5 Reasons Marketing Should Be a Business Priority for the New Year

Small business owners wear many hats.  They are often the accountant, receptionist, secretary, repairperson, and much more.  They multi-task like there’s no tomorrow, tackling administrative, sales, and all sorts of other functions.  Even if they hire employees or contractors to handle some of these things, they still have a lot to do.  So it’s easy to forget about marketing.

But marketing is one of those things that it pays not to forget about.  It is essential to every business, no matter how large or small.  Here are five reasons that marketing should be one of our top business priorities for the New Year:

• Marketing can bring us new customers.  Doing a great job is wonderful, but if you don’t have any customers in the first place, who’s going to know what great work your business does?  Marketing introduces your business to new people who may be interested in your products or services.
• Marketing keeps current customers happy.  Customer loyalty promotions and sales keep those who have previously done business with you coming back for more.  Those happy customers are also a good source of referrals.
• Putting forth the right image is crucial to our success.  Large companies often spend a huge portion of their budgets making sure that their image is just right.  Smaller businesses may not have the big budgets that larger ones do, but it’s just as important that they present themselves in a way that is pleasing to their target markets.
• Marketing is not all about advertising and finding other ways to market effectively can lead to higher profits.  Word of mouth marketing is one of the most effective ways to get customers, and the costs associated with it are low in comparison to paid advertising.  Taking the time to examine customer service policies and other factors in customer satisfaction can pay big dividends in the long run.
• Good marketing can keep you a step ahead of the competition.  If your competition is running large marketing campaigns and you’re not doing any marketing, you could be left in the dust.  That doesn’t mean that you should try to outspend the competition, it just means that you need to make sure that they’re not the only visible player in the game.

If you don’t have the time or inclination to deal with marketing, you could hire an assistant to handle it.  Having someone who can dedicate a fair amount of time to marketing efforts is more economical than letting it eat into your work time, and it can pay off generously in the long run.

Marketing is an important part of any business and should always be a priority.  Without it, no one would know that we exist or what we do.  By making marketing one of our top priorities, we give our businesses the opportunity to grow and prosper.