Business is great - why invest in marketing?

"We don't need marketing, our customers come to us by word of mouth." Sound familiar? As a business owner, you're busy enough, and if business is going well, marketing may seem like an unnecessary expense. Why invest time and money in marketing if business is already going well?

But what if the market suddenly changes? Or if a major customer drops out? Then you are suddenly empty-handed and have to start panicking with marketing. And that's when you have to pull out all the stops to keep your business running.

In my years as a marketing strategist, I have seen countless companies struggle with exactly this dilemma. I have seen how companies that continued to consistently invest in marketing, even in good times, were much more resilient to unexpected setbacks.

In this article, I'm going to show you why it's so important to keep investing in marketing even when times are good. By the end of this article, you'll understand how to use marketing as a constant growth accelerator, rather than something you do only when you need new customers.

By consistently investing in marketing, you build a buffer for when unexpected things happen.

We live in a world that is constantly changing. Just think back over the past two decades:

• The attacks of Sept. 11, 2001
• The financial crisis of 2008
• The corona pandemic

All of these events have had a huge impact on business. Companies have had to change their services, reorganize, or even go overboard.

By consistently investing in marketing, you build a buffer for when unexpected things happen. This doesn't mean that marketing will solve all your problems, but it makes you more resilient. When you take a systematic and process-oriented approach to your marketing, predictability increases.

It is important that you do not see marketing as something you 'do on the side'. A few weeks and then a few weeks not. No, effective marketing is a system. It is a process that you build, test, and continually refine.

Being consistent with this will ensure that you:

1. Know what works for your business
2. Can move quickly as the market changes
3. be less dependent on external factors (such as that one top salesperson who might leave someday)

That way you are less vulnerable to unexpected events.

I am a big proponent of using word of mouth, but you cannot completely influence when people talk about you and what they say.

You also can't turn the word-of-mouth tap further open if you need to, and in a systematic and process-oriented approach to marketing, you can. When things are going well, you turn the tap a little, and when things aren't going as well, you turn it back a little further.

Which brings me to the next point: a great advantage of investing in marketing during good times is that you can experiment from a position of calm.

You have time to try things out, budget to test what works and what doesn't, and less stress because the results don't have to be perfect right away. You learn from calmness which knobs to turn to achieve a certain result.

If you only start investing in marketing during bad times, you are often already too late.

For example, if you have built a mailing list right from the beginning, you can mail an offer or organize an event when things are not going as well.

A solid foundation also makes you less vulnerable to changes within your company (suppose you need to slow down), within your industry (think of Uber's impact on the cab industry), or broader developments such as changing consumer buying habits.

If you only start investing in marketing when times are bad, you are often already too late. Especially when things are going well, you need to look at how to secure and build on this.

Another point I want to make is that marketing is not just about bringing in new customers.

Good marketing focuses on:

• Existing customers (how can we serve them even better?).
• Former customers (how can we win them back?).
• Potential customers (how can we convince them?).
• Your own team (employer branding)

By being active on all these fronts, you create a much more robust company.

Finally, I see that recruitment marketing is often overlooked. Many companies only think about this when they need staff acutely. But top talent doesn't become available exactly when you have a vacancy.

So you need to make sure that potential employees know you even before you need them. That way you are less dependent on expensive recruiters or headhunters. You do this by continually investing in recruitment marketing.

Should you want to see examples of this on LinkedIn, I recommend following these individuals:

• Harro Schwenke (Upfront)
• René van der Zel (XXL Nutrition)
• Rob Maas (IKEA)

All three present themselves as ambassadors for their companies and get a lot of response to their posts.

You need to make sure potential employees know you before you even need them.

Remember that the market is constantly changing. Even if you are successful with word-of-mouth marketing now, that could change overnight tomorrow. By proactively working on your marketing, you ensure that you are prepared for whatever the future brings.

At Buzzlytics, we've helped countless businesses build an effective marketing strategy that grows with their success. We understand the challenges you face as a business owner and know the importance of continuing to evolve your marketing efforts, even when - or especially when - business is booming.

Are you curious about our proven method for more effective marketing and sales? Then read my article 'What is They Ask, You Answer? [with video]' or schedule a call with one of our consultants.

We would love to help you set up a marketing and sales system that allows your business to thrive, in good times and challenging times.