Marketing is a tried-and-true tactic proven to generate leads and revenue for businesses. However, many are still skeptical of the benefits it can deliver. Does it work? Will I achieve business goals with marketing at the forefront? What can effective marketing do for my organization? Businesses question if they need marketing, and some think they can achieve results by executing a few marketing components and leaving out the rest. The truth is that when done properly, marketing works, and we have proof. Let’s dive into the benefits of marketing, what it takes for marketing to be effective and how it can deliver your organization more leads and revenue for business growth.
What Are the Benefits of Marketing?
Marketing has the power to yield countless benefits for organizations. When people wonder how to grow their business, they ask questions such as, how do I increase brand awareness? How can I generate more leads? How can I bring more people to my website? These questions on how to grow a business have one answer: marketing. Marketing kickstarts everything when growing a business. The benefits of marketing are staggering. Here are a few to show you just how important marketing is.
- Increases Brand Trust: 66% of marketers increased their company’s credibility and trust through the implementation of digital marketing strategies.
- Generates More Leads: Businesses that blog see 126% more leads than companies that do not blog or execute content marketing. Companies also indicate that content marketing is increasing their lead quality and quantity.
- Establishes Credibility: 75% of buyers say they judge a company’s credibility by the company’s website design. The more professional, put together a website is, the more they find the information and the business credible.
- Boosts Business Success: When utilizing tailored marketing activities, organizations on average experience a 20% increase in sales. Organizations also see 20% annual revenue growth when marketing and sales teams are aligned.
- Brings in More Conversions: Websites with a blog tend to have 434% more indexed pages, which means more leads and conversions. Another study found that 80% of buyers are more likely to do business with a company if it offers personalized experiences.
- Influences Prospects: 84% of people say that they have been convinced to buy a product or service after watching a video about the brand, product or service offering.
What Impact Does Marketing Have on Businesses?
If those statistics and research findings still have not convinced you that marketing works, let’s take a look at the big-picture view of companies that utilize marketing and those that do not.
Companies that invest in marketing see increased brand awareness, website traffic and lead generation. When leveraging an integrated marketing plan, which includes various marketing tactics such as email marketing, content marketing and social media marketing, businesses can reach their target audience, drive sales and see a 50% higher return on investment (ROI) than companies that do not utilize a marketing plan. Having a deep understanding of target audiences, done by buyer persona research and creation, a key marketing fundamental, businesses can tailor their messaging and content to effectively reach audiences and make an impact. 53% of companies that utilize personalization in messaging and content achieve more than a 10% boost in business growth.
Companies that do not implement marketing may struggle to stand out in a competitive market. Those who invest in digital marketing activities and building a presence achieve a growth rate nearly 2 times as much as companies that do not. With alternative options for almost every product and service type, companies that do not leverage marketing to differentiate can fall behind. Without marketing, companies can also find themselves stagnant in business growth, and experience a decline in their customer base and revenue. This study found when brands stopped marketing and advertising, their sales fell 16% after one year and 25% after two years. If you are not inhabiting various marketing channels, you have minimal brand awareness and bringing in new leads will be a challenge, opening the door for competitors to engage your prospects and leaving you with little to no opportunities.
How Do You Ensure Your Marketing Is Effective?
Now that we have depicted the benefits of marketing and why it works, it is critical to note that not all marketing is created equal. For marketing to be truly effective, it needs to:
- Be Strategic: Developing a strategic plan is critical. It defines marketing objectives, target audience and position in the market. A marketing plan should also ensure marketing supports overall business goals and outlines specific tactics to achieve them.
- Include Measurable Goals: A marketing strategy is nothing without goals to reach. Setting goals ensures marketing efforts aim to achieve a certain performance that supports business growth.
- Focus on Your Audience: This component of a marketing strategy is the basis of marketing. Every marketing effort that you plan and execute is intended for a certain audience. You must understand your audience and how to reach them. Deep insights into their pain points, challenges, needs and other buyer persona characteristics set you up to develop impactful messaging and relevant content.
- Be Executed Across Multiple Channels: To effectively reach target audiences, it is important to execute marketing activities across multiple channels. This includes email, social media, advertising, websites and more. The more reach and awareness you can generate, the more leads and conversion opportunities.
- Maintain Consistency: Without consistency, marketing cannot be effective. If prospects cannot recognize your brand across multiple channels, you are missing the mark. Ensure branding and messaging are consistent across platforms. This is crucial, as consistent brand presentation across all platforms can increase revenue by up to 23%.
How Can Expert Marketing Services Boost My Results?
- A B2B manufacturing company saw a 100% increase in revenue in one year as a result of a lead generation campaign. The campaign’s efforts continued to have an impact, resulting in a 30% increase in sales and a 46% increase in MQLs the following year.
- After optimizing lead generation efforts, a MedTech organization achieved an 87% increase in MQL conversion to “Working”, a 157% increase in MQL conversion to “Opportunity” and a 25% increase in MQL conversion to “Closed/Won.”
- A SaaS company experienced a 32% increase in website traffic as a result of integrated marketing campaigns. They also saw a 400% increase in email referral traffic in month one and an additional 300% increase in email referral traffic in month two.
- Following the execution of an ABM campaign, an enterprise software company achieved a 30% increase in opportunities.
- After a pay-per-click (PPC) audit and implementation, a manufacturing business saw a 300% increase in ad click rate. The PPC overhaul also resulted in a 60% increase in average ad position, a 670% increase in the number of ads with a greater than 2% click rate and a 3100% increase in ads with an “excellent” quality score.
- A print campaign for industry publications resulted in a 50% lead conversion rate for a SaaS company. Plus, following the revamp of their website, they experienced a 21% increase in web traffic, a 25% increase in pageviews, a 27% increase in average site visits and a 20% decrease in bounce rate.
If you want tangible business results like these, start with Launch Marketing. We are a full-service marketing firm backed by a team of seasoned marketing experts, with decades of experience in diverse marketing activities including product launches, messaging, marketing plans, lead generation, marketing automation, digital marketing, content and campaign development and more. We have delivered impactful results to over 200 B2B clients, implementing successful product launches and market entries and generating high-quality leads.
If you are ready to get started on developing an impactful marketing strategy, contact us today or request a free marketing consultation. If you are looking to refine your current strategy for improved performance, request a free Growth Blocker Workshop session. We will uncover the obstacles holding you back from growth and put together an actionable plan for success.
The post Marketing Works: The Benefits of Marketing and How it Can Boost Business Growth appeared first on Launch Marketing.
