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August 1, 2017

Why Successful Companies Continue to Invest in Marketing

If you know anything about business, you probably already know the importance of running marketing campaigns, but what we often neglect to acknowledge is the fact that marketing campaigns are not a one-off thing. At the very least, a three-step strategy to marketing is necessary for any campaign to see success to its full potential, and that’s where a lot of the companies stop. The ones who don’t stop with their marketing efforts after a few successful campaigns are the ones that reach the top. If you are making the same mistake, go through the following points to understand why successful businesses continue to invest in marketing.

Marketing is a Continuous Process by Default

Marketing should not be used as an emergency strategy; instead, it should be seen as an ongoing solution. All successful Fortune 500 companies understand this and they usually have multiple campaigns running at the same time, throughout the year. Sure, they may beef it up in select sectors during certain times of the year, but even when they are least active, marketing never really stops.

Stay in the Present

There is an old saying, “out of sight, out of mind” and nothing has ever been truer than that proverb in business. It doesn’t matter how successful your ad campaign was in 2016, if it isn’t getting enough visibility, you will slowly fade away from people’s mind. That’s just about the worst thing that can happen to a company. Strategic SMS marketing with Reach Interactive is an excellent way to stay in the current memory of your clients; it’s cost effective, instant, and has a much higher rate of conversion than even emails.

In the world of business, your position is never safe, in spite of what it may look like now. Take the iconic falls of Motorola and Nokia, for example. Both companies were on top in their respective era and both lost their positions and were eventually pushed out of the mobile phone market itself, after getting too comfortable with where they were. Samsung, on the other hand, has been on top for a long time in the smartphone sector, and thanks to an unending, brilliant marketing strategy and constant innovations, the Korean giant continues to grow.

Changing Markets

A marketing campaign that saw huge success two-years ago may no longer even be valid today and that’s primarily because the market is constantly changing. Everything, from your strategies, messages, tone, and sometimes even the target audience, may need to be changed according to the reports from your market analytics team. Even when massive changes are unnecessary, adjustments and updates are always going to be needed, or you run the risk of becoming outdated faster than you may imagine. Just as your company adapts to the changing market every year, your marketing division needs to be on the same page to accommodate the changes in the next campaign. Marketing and innovation are the two most important things in any business and if at any point of time, one is taken out of the picture, stagnancy and eventual downfall will always be just around the corner. If a business treats marketing as a “last resort,” that’s all it will ever be, instead of being the staircase to success like it’s supposed to be.

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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