We often hear business owners saying ‘it’s a nice problem to have’, when talking about the fact that they have more business coming in then they can handle, and additional marketing is considered unnecessary.
However nice, it could be more of a problem than they think. In fact, this is the very time when these businesses should be investing in marketing. The 3 reasons below show why:
1) You can afford it
If you own a house or car, you’ll know that it always seems to develop a problem when you can least afford it, which is why it makes sense to keep on top of the maintenance. When your sales are in good shape, and good reserves in the bank, you can afford to work with people who really know what they are doing – rather than having to rely on the equivalent of the builder or mechanic who happens to be available when you are stuck
2) You can create a filter, as well as funnel
Aside from filling your sales funnel with more leads as a result of your marketing, it is just as important to filter out enquiries that are not right for your business. This means that your sales team are focused only on the sort of work you are really looking for. You can possibly afford to charge a fee for consultations or designs, knowing that those prospects that are prepared to show commitment to you are certainly serious buyers
3) You prepare yourself for a storm
As recent global events have shown, outside factors can change the situation for your business very quickly. While these factors may have created an upturn, is it difficult to predict for how long this will be sustained. To invest in a scalable marketing system asset when you are doing well gives you more control over the long-term direction of your business. You can make decisions based on strategy rather than simply catching the passing wind.
