Smaller Companies: Keep Marketing Through Adversity
Every time we hit a moment when the stock market crashes – or worse, fluctuates wildly – it’s predictable that smaller businesses will instantly turn off their marketing engines.
This is just as short sighted as selling off stocks the day of the crash and similarly forfeits the upside. The smartest investors and financial advisors, like my networking partner Pat Morrow, who runs a private wealth management practice at Morgan Stanley Smith Barney, are exploring the current landscape for opportunities for their clients. And they’re finding them, too.
On the marketing side, I’m similarly engaged. In this environment, it makes sense that if our competitors panic and stop promoting their businesses, we stand to pick up market share.
The reason that I like Inbound Marketing is that it’s possible to create great efficiencies. Does it take time and money resources? Of course. But if cash flow becomes a problem, or if business slows down a bit, it gives you time to take on some of the marketing tasks that you might otherwise outsource. Pay only for what you can’t do yourself.
Even though I sell marketing services to businesses like yours, I can empathize with you. I’m in the same small business boat. Limited time. Limited resources. But today I took some time to build an email marketing campaign to my opt-in list giving them some reasons to consider Inbound Marketing and my services in an uncertain economy.
My Hubspot content management system allowed me to do this without any assistance. As far as I’m concerned it was a cost effective use of my time. When I got back from some meetings late this afternoon, I sat down and wrote this blog post, which will bring traffic to my site and help me engage with my audiences.
I have no intention of cutting back my marketing efforts. I’m happy to invest to get my company in front of opportunities that will help me build through these uncertain economic times. And I don’t mind putting in some sweat equity.
What can you contribute to your own marketing efforts? Farm out less. But don’t stop marketing.
Image by Nathan E Photography Under Creative Commons License