Day 7 of 30. How do you market in a boom? How do you market when things are going well?
A lot of business owners will often pull their marketing budget when they get overwhelmed with work because their marketing is working so well. They think, why would I spend more money on it? We’re covered up in work over here. Let’s cut that, save some dollars, and we’re on our way.
But instead, here’s how to think about your marketing when things are good. Marketing is not necessarily the source of all good things- I’m not suggesting that. However, the moment things are good is the exact moment that you can actually make real aggressive headway with your marketing. So, let’s say that in the past things have been a little bit rough. You scrape and scratch together as many little dollars as you possibly can to put towards the market to bring in customers and order those soldiers. Well now that things are going well, you have more soldiers to strategize and plan ahead so that when the season turns down or things are not going as well, you can take market share. You can take mental market share in the mind of your customer. You become that top-of-mind and you hold that mental space as the go-to source for your product or service.
Now, it should bring you in more customers. Why not expand your business to handle more customers? Sure there are good reasons to not expand your business. Perhaps it’s not the right time, but that doesn’t mean that you can’t build up a backlog of service or customers. You might develop a waiting list, you might develop a longer timeline, you might build some systems by which you can handle a larger volume of customers. Marketing should be creating those kinds of problems for you. But just because it presents problems doesn’t mean that it’s time to quit. It means it’s time to fix those good sorts of problems.
That’s what good marketing should do- it should create good sorts of problems for you.
It’s much better to be covered up in customers- to be able to say no, than to not have any customers at all. That’s a good way of thinking about this. As you’re out there marketing, be thinking about these things.