In business, money and cash flow is like oxygen. It’s not something you really think about, you’re aware of it but as soon as it gets taken away panic sets in! As soon as that panic sets in its priority number 1.
It’s just about getting that oxygen, in business terms just get that money, get that cash flow and make sure we are still going to be there in the future. When you do this usually the costs that become a priority are going to be. For example people, possibly one of the most important things. To look after your staff, to look after the key areas of the business that need it, like life blood, what is the life blood of the business. Now when you do this, the cash flow will dip, you then start looking for quick fixes and when you start looking for these, marketing is one of the first choices companies look at reducing. The reason for this is because marketing takes time and effort. For example, writing that blog, making that video, you start to think ‘is this the best use of my time’ ... of course it is! It feels like a luxury rather than a necessity and therefore it gets pushed to the back.
However, the irony is your marketing is the one thing that shows people why they need you, why they should buy from you, why they should trust you, why they are going to come with you on that journey and buy into your brand, just as much as anything else. This is a key area. It’s not about axing the marketing right now, what we are talking about is how you focus the marketing. Axing the marketing just means that people are going to lose faith and they are going to lose trust, whereas focusing the marketing so that you are doing less things better, so you are looking after your audience, your community and you are looking after your customers. You are just doing it in a way that fits in to the emergencies and the fires that are being put out around you.
Taking that time to work out where your marketing efforts should be focused is key to making sure your audience and customer base are still interested in what you have to offer and are still invested in you.