{"id":21531,"date":"2021-05-03T15:02:57","date_gmt":"2021-05-03T14:02:57","guid":{"rendered":"https:\/\/www.experts.ng\/blog\/?p=21531"},"modified":"2021-05-03T15:28:55","modified_gmt":"2021-05-03T14:28:55","slug":"the-influence-of-marketing-on-business-development","status":"publish","type":"post","link":"https:\/\/www.experts.ng\/blog\/the-influence-of-marketing-on-business-development\/","title":{"rendered":"The Influence of Marketing on Business Development"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Marketing is everything you do to move your customers from brand awareness to a point were they are interested in making a buying decision and a final action to buy and actively advocate for your product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It covers research, branding, sales funnels and sales tunnels. Like this author <a href=\"https:\/\/www.frog-dog.com\/magazine\/strategies-for-growth\" target=\"_blank\" rel=\"noopener\">says<\/a>, &#8220;you grow to survive&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Business growth is measured vertically and horizontally. I&#8217;ll talk about this shortly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All start ups face have a common struggle with money, as your business grows through marketing, your options improve. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">See: <a href=\"https:\/\/experts.ng\/blog\/small-business-financial-tools\/\" target=\"_blank\" rel=\"noopener\">Seven Financial Tools for Small Businesses<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-s-your-approach-to-business-growth\">What&#8217;s Your Approach to Business Growth?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">One thing every small business wishes they\u2019d done differently when they start is approach marketing differently.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You see for most startups, growth means sales. However, if you intend to build a brand that lasts, you have to set up both long term and short term goals. Your growth is then measured along the timeline of your goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Creating brand awareness is beyond handing out basic information; it&#8217;s about the amount of influence you have on your audience&#8217;s thought process in comparison to your competitors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growing-vertically-and-horizontally\">Growing Vertically and Horizontally<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Horizontal growth describes increase in sales and customer base by expanding into new markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand vertical growth refers to strategies that allow a company expand services by expanding along existing market chain For example, a shoe company decides to produce its leather rather than out source it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Most startups push for horizontal growth but ignore growing vertically. But both forms of growth are important to business development.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A company can also grow horizontally through internal development.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-of-marketing-to-business-development\">Benefits of Marketing to Business Development<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Boost sales<\/strong>: There&#8217;s no growth without sales. Advertising and branding give your business a competitive edge as well as help bring your product into a new market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Helps you Maintain reputation<\/strong>: They say no publicity is bad publicity but it&#8217;s best to stay on the good side. Marketing covers PR and CSR. PR protects public opinion of your brand. If you ever quit a product because of a negative review then you can understand how a good reputation can help business development.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tweeps had repeated problems with Bolt and for a while bolt adverts have been in our faces on twitter and Youtube.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sustained customer relationship<\/strong>: One of the ripple effects of effective sales is that customers become brand promoters. One reason old brands have a nostalgic effect on customers is that they&#8217;ve grown with their customers. It&#8217;s not enough to generate new sales lead. one sign of growth is in the ability of a brand to retain customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"h-informs-decision-making-process-marketing-research-helps-a-business-make-informed-decision\"><strong>Informs decision-making process<\/strong>: Marketing research helps a business make informed decision.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can have many setbacks in your business, but marketing shouldn&#8217;t be one of them. READ 7 <a href=\"https:\/\/experts.ng\/blog\/grow-small-business-and-increase-reach\/\" target=\"_blank\" rel=\"noopener\">Steps to Grow Your Small Business and Improve its reach<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What other benefits come to mind? Leave a comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marketing is everything you do to move your customers from brand awareness to a point were they are interested in making a buying decision and a final action to buy and actively advocate for your product. It covers research, branding, sales funnels and sales tunnels. Like this author says, &#8220;you grow to survive&#8221;. Business growth [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":21541,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_3899566575_3899566575":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[41,55],"tags":[3485,637],"class_list":["post-21531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bus-dev","category-marketing","tag-brand-marketing","tag-business-development"],"_links":{"self":[{"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/posts\/21531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/comments?post=21531"}],"version-history":[{"count":0,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/posts\/21531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/media\/21541"}],"wp:attachment":[{"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/media?parent=21531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/categories?post=21531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experts.ng\/blog\/wp-json\/wp\/v2\/tags?post=21531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}