Friday 28 August 2009

When is the right time to Invest in marketing?

Now of course!

But only a handful of companies that we talk to initially understand this simple fact - the rest fall into one of two camps:

a) I am doing OK at the moment and so I don't need to spend any money on marketing.

b) I am really struggling, creditors are all over me, I need to do some marketing to get more sales quickly, but I haven't any money left to pay for it - can you help?

The problem with the a) businesses is that they all too often turn into the b) businesses - and in the case of small to medium sized companies surprisingly quickly, and in the current financial turmoil digging those companies back out again is incredibly difficult.

Over the last couple of months we have spoken again to a number of companies who a year or so ago didn't want anything to do with us as they were "too busy with existing business". They have been caught out by the rapid demise in their markets and have now left it too late to react. Unfortunately in a number of these cases there is nothing we could do for them and the owners have lost their business and their livelihood. In a few other cases we have helped the business owner to find some financial backing to start and rebuild, but it's a long road back.

So - don't be one of the casualties - if you are doing OK at the moment, take some of that profit and invest it in growing your business now. There are some golden opportunities to be grasped at this time which most likely won't be around in a years time or so.

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