Positive Profits: Five Reasons Modern Business Leaders Must Have Marketing Savvy
Marketing departments have long been a staple of big corporations. After all, well-invested advertising dollars can offer big returns in terms of sales increases. While large firms recognize the importance of strong marketing efforts, not all executives and small business owners leverage the potential of marketing to attract new customers and drive profits. While marketing may seem like an activity reserved for the pros on Mad Men, every business executive can profit from beefing up on marketing knowledge.
Why Marketing Savvy Matters to Modern Executives.
With increased access to the Internet and an explosion in the number of Americans who use smartphones, mobile marketing has become an essential advertising medium. Unfortunately, many executives can’t keep up with changes in mobile marketing because they don’t have a solid grasp on basic marketing principles. Here are five reasons even the most skeptical business leaders must understand marketing.
1) Marketing infuses every aspect of daily life.
Everywhere we look, we see ad content. Whether standing in line at the grocery store or browsing the web, ads surround us. Businesses that aren’t conducting marketing campaigns run the risk of fading into the background or never gaining popularity with a consumer base in the first place.
2) Brands still sell.
For the average consumer, brand identity still matters. While branding requires a multifaceted effort, marketing plays a key role in increasing brand awareness. The more familiar shoppers are with a brand, the more likely they are to purchase new products or trust the company’s services.
3) Social media is growing in popularity among many consumers.
Social media marketing has been big news over the last decade largely because younger consumers have flocked to sites such as Facebook and Google+ in droves. Social media, however, isn’t just the province of the young. In fact, recent studies show that the fastest growing demographic on Twitter is the 55–64 year old age group.
4) Too few businesses take advantage of online marketing.
While online marketing can provide for a great return on investment, only one in 10 small business leaders plans to launch an online marketing campaign in the next year. This means that the field is wide open for executives who want to start an ad campaign before the competition decides to try out online marketing.
5) Consumers expect savvy advertising messages.
Today’s consumers encounter ad content everywhere they go. This means that they expect high-quality, timely messages from their favorite businesses and brands.
A little marketing knowledge can go a long way toward fostering business success. Learn more about earning a degree in business administration and mastering marketing by talking to an admissions counselor in the College of Business at Georgia Southern University.
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