By Chris Manley, CEO, Engenius
There’s a saying in French that gets a lot of attention during Mardi Gras festivities: “Laissez les bons temps rouler.” Translated, it means, “Let the good times roll.” Are the good times rolling for your business? I’ve heard from many business owners recently that business is good. Sales continue to grow, pushing up revenue and hopefully profitability, too.
You might feel overwhelmed with leads coming in and a full pipeline. In fact, I’ve seen some companies increasing staff just to handle all the business opportunities on the horizon.
But a full pipeline brings with it a temptation to take your foot off the gas and forget what got you to that point. Why did all those leads start coming in? Was it chance? Likely not. You get business because people have heard about you. That might be from a colleague. It could be from a Google search. It could be from myriad sources depending on your overall marketing strategy.
Perhaps part of your marketing strategy is brand awareness — getting your brand in front of as many decision makers as possible. That might be through some traditional advertising and some online ads. Your goal is not direct sales — but rather to keep your brand in front of people so that, when they’re ready to buy, they see your name and recognize your brand.
It is the frequent viewing of your brand that leads this potential customer to you. If business is good right now, then this strategy is clearly working. Your brand was visible to decision-makers who decided to buy. But what about the next round of decision-makers? Shouldn’t they get the same exposure to your brand as the first round did? If you pull back now because business is good, what happens to your pipeline if your main source of advertising has stopped? If you have extra resources to spare, now might be the time to increase this strategy so that it can be even more effective.
Likewise, let’s say your website is a little dated. It may not be hurting yet, but it’s far from current. Is the timing right — while times are good — to do something about it? I’d argue yes. If the site is already dated, time will continue to erode the site’s relevance and its effectiveness in your overall marketing strategy, making it harder to attract new business to keep the good times rolling. Investing in a new website while the times are good will be an easier financial move now than when leads have dried up, consequently taking with them your marketing budget.
Even though times are good and getting new leads right now isn’t an issue, you must continue to lay the groundwork for your marketing investments. Invest in your marketing when times are good, so that when they’re not, you have the right marketing tools to survive the downturn.
Chris Manley is the CEO of Engenius, a marketing firm specializing in helping businesses navigate digital marketing through strategic web design, search optimization, and digital advertising. You can contact him at [email protected] or by visiting www.engeniusweb.com.