Five good reasons to keep marketing
Many small and medium-sized businesses struggle to maintain a consistent level of marketing activity because energies and resources are diverted to deliver work for paying customers. Indeed, many don’t see the point in spending precious budget, and even more precious time, when they have plenty of work on the go.
As a business owner myself I certainly recognise the dilemma and can understand why marketing can slip to the bottom of the to-do list at times. But, if you want to grow your business, you need to maintain your marketing momentum.
Marketing for growth means marketing consistently. Here are five reasons to maintain a steady level of marketing activity for your growing business.
1. Build a steady and predictable sales pipeline
When new business becomes a rollercoaster, it is exhausting. Many small businesses find themselves in “feast or famine” mode — consistent marketing can break this cycle. If you know that the buying process in your business takes six days, six weeks or six months, then you know that you need to be generating those initial enquiries six days, six weeks or six months before you actually do the work or deliver the product. Famine happens when you forget to do your prospecting because you’re too busy feasting.
2. It’s worth repeating yourself
You may have heard talk of changing the education system to reduce the long Summer breaks, because it has been shown that children forget what they’ve learned over the long holidays. The same is true of your market. If you haven’t said anything for a while, you’ll have to forgive people for not immediately recalling who you are and what you do. If, however, you have a programme of regular communications that continually keeps you front of mind, when you do pick up the phone or bump into a potential buyer at an event, you’re one step further on in the conversation because you’ve not had to introduce yourself from scratch.
3. Generate the right kind of work for your business
Yes, there is a right and a wrong kind of work for your business. The right kind is profitable, enjoyable and builds skills and credibility. The wrong kind simply takes up time and barely turns a profit. Being busy does not always equate to being profitable, or fulfilled. By continually presenting your business as the experts in the right kind of work, you’ll get more of it. But, if you all have your heads down simply fulfilling the wrong kind — when will you get a chance to tell people about what you’re really good at?
4. Maintain those marketing muscles
Marketing is made up of many different skills and techniques. If you only pick them up from time to time, you’re likely to need to re-learn what you once knew. What’s more, with digital marketing techniques moving on at a staggering pace, if you look away for more than a few weeks it is likely that some new technique will have passed you by. Regular, consistent marketing activities undertaken throughout your firm will embed the skills so that it becomes second nature. And, when that happens, it’s no longer a chore — it’s just a great habit.
5. If you generate enough demand, you can put your prices up
Scarcity builds demand. Take the recent strikes in France and the impact on the availability of fuel. If people had simply bought the same as usual, there would have been no shortage. But, the sense of shortage prompted them to stock-up. Now, I’m not advocating scaring people into buying your products, but you’d be amazed how much more people seem to want what you have (and are willing to pay) if it seems like it’s in high demand. Taking this on board, it makes sense to keep marketing even when you’re full to capacity.