The Purpose of Marketing
Marketing is a key factor in all stages of business. Companies spend up to 20% of their available budget on marketing, but what’s the point? We want to hear from you – how do you define the value of your marketing efforts?
“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” as defined by the American Marketing Association.
What Others are Saying
According to HubSpot, the fundamental purpose of marketing is to attract consumers to your brand through messaging. Ideally, that messaging will be helpful and educational to your target audience so one can convert consumers into leads.
Forbes says “the fundamental purpose of marketing is to create value for customers.” Creating a marketing approach that puts the customer first to set yourself apart from the rest. This can make it harder to have a winning strategy because one size does not fit all. Ultimately keep your strategy simple and ensure it aligns with your business mission and purpose.
As reported by LinkedIn “marketing is the core of the company-customer relationship and is more than a mixture of one or two things. Marketing is not what you do to realize the goals of corporate strategy. Marketing IS the corporate strategy”. Marketing is should be an integral part of shaping how customers perceive and interact with the company.
What We Think
Marketing pertains to every aspect of a successful business. Having a strategic marketing campaign as part of your business plan will ensure that you are maintaining and increasing your brand awareness, relevance, and demand.
Marketing is not sales nor business development and may require additional support. There are a plethora of avenues one can invest in marketing campaigns, so why choose an agency? LMI360 is the only Full-Service Digital Agency that is 100% focused on organizations that support the Commercial Built Environment. We serve as an extension of your team and deliver results through top talent, experience, a tailored approach to brand recognition, and lead generation for every client.
We think the point of marketing is to retain and attract clients! What do you think?