Marketers Need To Understand More About BUSINESS! | Small Business #Marketing Tips

One of the biggest problems with the vast majority of people claiming to be marketers is their lack of real business knowledge. Marketers need to evolve from being a marketer to being a business professional who executes marketing. To do that means understanding the nature of how the business operates, understanding basic finance concepts such as a profit and loss statement, a balance sheet, or EBITDA. For a marketer, understanding business is a huge benefit to how you do your work, because thinking like a business person frames what you do as a marketer in a totally way. For example, how does this particular marketing effort impact the sales team or the support team? How can we take what we've learned and feed this data back into product development? What can we learn from this about profit margins or how we set our pricing, or how can we adapt this existing messaging to a different customer profile segment? The list goes on, right? All of a sudden, we're looking at the business more holistically, which is something very few marketers do. Or can do.