When is the best time to boost your company’s marketing and communications?
A) When you’re flat tack and looking to grow.
B) When the work is flowing well and there is no real pressure.
C) When your two best clients are shutting up shop, your three worst ones won’t pay their bills and your bank manager is getting the jitters.
If you’re in the fortunate position of being an A performer, a marketing campaign will help bring even more customers your way but be careful that you aren’t trying to bite off more than you can chew. Do you have the staff and resources that you need to supply even more customers or would it be better to spend some time growing your team and infrastructure, so that you can reap all the benefits of even better marketing and communications? Some of the saddest business tales from the Canterbury earthquakes, for example, were about companies that were inundated with work but but didn’t have the resources to deliver. Rather than turn work away, they continued to accept it, losing their reputation and eventually all of that amazing potential.
If you’re at C, a marketing campaign may be too late. There are plenty of stories of companies getting to the brink and recovering but it could take months for a marketing campaign to deliver the results that you need right now. Good marketing also takes money, something that will be in short supply. If like any good business owner, you are planning at least three months ahead, and can see quieter times on the horizon, boost your marketing now. And make sure you get good advice, so that your money works for you and you connect with the customers you want to reach.
B is of course the best time to market, when you have money to spend and a little extra capacity to service new clients. In recent weeks, I have taken my own advice and been marketing to some new people in new places to help grow our business. Aside from attracting some wonderful new clients, it has opened our eyes to a world of new possibilities. The planning process alone for a marketing campaign is a useful exercise as you take a fresh look at who you are, what you have to offer, who you are trying to attract to your business, and the pros and cons of various marketing communications tools.
If you think it’s time to put more effort into marketing your business, I’d love to chat. (And yes that was a little bit of unashamed marketing from me).