There’s nothing like the feeling of a marketing campaign succeeding – suddenly you have a surge of new customers coming in, sales are accelerating, and everything feels like it’s on the right track. When things are going well, marketing can seem an extra expense and hassle that you no longer need. Conversely, when times are hard and you have to watch your spending, generally it’s the marketing budget that takes a hit before anything else.
This is a dangerous and shortsighted game to play, because marketing is not just a quick fix to bring in some new business in the short term – it’s a continuous strategy that will help your business stay stable and successful in the long term.
Word of mouth is not enough. Once you’ve built up a customer base, it can be tempting to let those customers talk to their friends and do your marketing for you. While word of mouth is certainly a powerful tool, it can also be very unpredictable. You never know when economic situations will take a turn, and public attention will shift to something other than making new purchases and recommending businesses. When these kinds of natural fluctuations hit, it’s too late to hurry and do something about it in the moment – you need to have a marketing strategy already in place to handle any changes that might arise.
Marketing helps you stand out from the crowd. Even if you have a fairly niche business, your niche may be bigger than you think, and you still need a way to stand out to potential customers as new businesses enter the scene. The online marketplace is vast beyond imagination, and if you’re not perpetually making an effort to stay in front of the eyes of your target audience, your competitors who do have strong marketing strategies will fill that space.
Time changes everything. As we all learned last year when the pandemic hit, nothing is guaranteed and drastic shifts can come when you least expect them. But even when things are business as usual, consumer preferences and habits change naturally over time. If you’re not keeping up with these changes and meeting your customers where they are, inevitably you’ll lose touch with how your business needs to be evolving in order to grow and thrive.
A well-honed marketing strategy does not have to be stressful, and it should be contributing to growing your revenue rather than being a strain on your budget. If you’re looking to improve your marketing tactics or even build a new strategy from the ground up, contact us for a free consultation to start focusing on long-term success.
COGO Interactive is an award-winning digital marketing agency specializing in online marketing strategy, web design, SEO and social media marketing. We work with clients in Virginia, Maryland, Washington, DC and across the nation.