How Marketing Supports Business Development
Unfortunately, your prospective customers don’t just find your website and click “buy.” Today’s consumer spends time researching your company and product before even making contact, which may mean many touchpoints with sales and marketing efforts before a purchase is made (according to many experts, it takes 6-8 touch points to generate a “viable” sales lead). This process becomes even more involved when the purchase is large, such as buying a new home or vehicle.
Whether you’re a small or large business, your success depends on sales and growing your business through business development. This task is nearly impossible without marketing support. Why? Marketing and awareness efforts help produce leads, and sales follows up on leads to grow the business.
Don’t believe that marketing is important for your sales growth? Consider this: Companies with strong marketing practices generate 208% more revenue from marketing efforts. And, when sales and marketing works together, companies see 36% higher customer retention and 38% higher sales conversion rates.
Marketing research efforts can identify your target audience and how to reach them (likely through a combination of advertising, social media, email marketing, and events). Online marketing efforts can discover potential customers not otherwise discovered through general sales efforts.
Discovering your audience is only one piece of the puzzle—next, you’ll have to make a case for why you should be heard. Marketing efforts can help attract and interest potential leads in your business or product, without the full pressure of a sales push.
Marketing efforts (such as content marketing) can help further engage prospective customers. This constant lead nurturing increases the likelihood of sales wins and conversions.
Increasing customer retention rates by just 5% can increase profits up to 95%. Marketing efforts can encourage repeat business through regular engagement, also increasing your customer retention rates.
If you’re in need of marketing support for your business development efforts, contact SKYFALL BLUE today for a complimentary marketing assessment. We’ll work with your business to help identify and implement your marketing needs—whether your needs are small or more labor-intensive—to support your sales growth.