In difficult times, marketing can sometimes get neglected. With budget cuts, these are the efforts that so often get culled, under the belief that focus should be shifted to the more immediately practical processes of maintaining and running a business.
Although this way of thinking is understandable, it’s ultimately misguided. Marketing is one of the single most important things a business can do. Not only does it build brand awareness, it increases sales, engages customers – all things that take on added importance during times of trouble. In fact, there are so many core business functions that stem from a good marketing plan that it should be considered integral to the long-term strategy of any business.
As the most effective way to communicate your value proposition, marketing is the most sustainable way out of a crisis. Consider marketing more like food than medicine. Its purpose is to sustain a company’s presence, not just remedy a short-term lack of engagement. It’s therefore wrong to respond to a short-term issue by removing an ongoing strategy. This may lead to an initial saving of funds, but the long-term effects will be a spiral into invisibility and a downturn in profits.
Customer engagement is the heart of any successful business, especially in difficult times when your customers need to be reassured and positive communication re-established. Happily, marketing solves the problem of how to keep a conversation going with your customer. Your audience WANTS to form a relationship with your brand, and marketing provides numerous opportunities to do that.
But, more importantly than anything else, marketing guarantees growth.
While your current customers should always be your main priority, marketing helps to expand this base. It secures your business’s future through both new and old customer engagement.
Modern marketing is cost-efficient
The main reason why businesses consider dropping marketing in difficult times is to save money, but modern marketing is a great equaliser. Thanks to the relative cost-efficiency of digital marketing, often the only thing you’ll need to be investing is time. Not to mention, marketing is one of your businesses primary tools for making sales and boosting profits.
As with any crisis, the shortest way out is through. Marketing can be the lifeboat that carries your company through this difficult period if you know how to integrate and enforce it in the best possible way. JBPRM can help you to optimise your efforts at this difficult time, drive engagement and, ultimately, reach your long-term goals. Simply get in touch for a free consultation.