When business is slow it is prudent to find cost effective ways to lower costs. Some items can be pared down wisely with minimal adverse effects to the operation, and some should not be cut, instead increased. A common belief is that marketing should be cut. Cutting marketing is a huge mistake that precedes serious damage to the health of a business. We are hearing from many contractors and businesses that they are falling short in the sales and lead generation department. We ask if they are marketing their business and most say "no we are cutting marketing and not doing that right now. We need more business then we can increase marketing." Go figure!
In order to increase the likelihood that we will stay in business now is the time to increase your marketing. Those who have been marketing consistently are receiving calls and working. The jobs may not be the creme of the crop however they keep the doors open. Those who are not marketing will soon go out of business.
Companies who have planned properly are busy marketing and advertising every week. As spring calls increase these companies will be found, will generate leads and sales, and will survive the downturn. These companies are using "TOMA" (top of mind awareness) to stay in front of their market. They are not relying only on referrals. They are following one of the basic principles of business, marketing to your marketplace to generate leads. Leads lead to sales. Sales lead to work to produce. Work produced lead, to money received to run the company and pay the bills.
To weather the slow economy increase your marketing.
