This article is written by our 2023 Expert Sponsor, Sonja Pototzki Raymond, from The Search Republic.
Contact Sonja today for help keeping your marketing on track!
Sonja is part of our business networking community for women, right here in Perth, WA. Come join us here and say hi!
The life of a business owner sometimes fails to live up to the hype. Occasionally, you have to make difficult decisions for the sake of your financial (and mental) welfare and if you’re not careful, these choices can be make-or-break.
When facing financial uncertainty, many business owners place their marketing initiatives on the chopping block. While it might appear that this is a simple approach to cut costs while maintaining profitability, the truth is quite the opposite.
Read on to discover the 5 top reasons why your marketing should stay plugged in.
1. Sale Continuity
By limiting your clientele, you’re essentially limiting the cohort that actually buys your products. Without marketing, businesses struggle to bring in new clients and must rely exclusively on returning consumers. This may be incredibly detrimental, depending on your offering and its demand. Even your most devoted consumers will eventually run out of uses for your goods or services, and at the risk of sounding morbid, your beloved customers won’t be around forever.
Bringing in fresh clients is a surefire way to future-proof your business while maintaining steady income. And at the risk of repetition, marketing is your best bet.
2. Maintaining a Competitive Edge
You know who isn’t muting their marketing efforts? Your ravenous competitors.
Nothing makes other companies that sell comparable goods or services more hungry than when one of them fails. By stopping your marketing, you run the danger of losing not only your market share but also prospective new clients to other businesses.
There are a lot of enterprises clamouring for attention in the large, noisy world outside. Make sure your voice is heard by holding onto your platform with a vice-like grip.
3. Keeping your Brand at the Forefront of your Customers’ Minds
If one-hit wonder bands are anything to go by, it’s easier than you think to disappear into nothingness. If you stop promoting your company, both present and potential consumers will eventually forget about it and turn their attention to rivals who are eager to swoop in and steal them.
Through strong marketing initiatives, you can keep your brand in the thoughts of the people who matter most to your success: your customers. Continuous brand awareness and reputation management are what maintain consumer recognition, loyalty, trust, and ultimately, sales. If those things are worth preserving, then so is marketing.
4. A Green Light for Opportunities
By stopping your marketing efforts, you will never know where your next prospective relationship, collaboration, or business opportunity will come from.
Accessing untapped audiences is one of the biggest advantages of marketing online and keeping a strong online presence. Businesses can contact customers they may have never before appealed to through collaborations and partnerships. By maintaining strong marketing efforts, you may make it simple for other companies or sponsors to create a relationship with you and open up your reach.
5. Keeping your Customers Engaged
Short of being totally forgotten by your customers, being boring is the next worst thing. Why wouldn’t you take all reasonable measures to keep their attention and good opinion when you’ve already invested the time (and money) in cultivating that customer loyalty? Customer engagement is crucial in today’s market; the individuals who support you need to connect with your company and have their needs satisfied. If you allow your customers to slip into disengaged territory, you’re basically telling them that their attention is no longer worth anything to your business.
You’ve got to repay your customers’ loyalty and engagement by staying in touch and connected. If you can also keep an eye on their changing needs and modify your services accordingly, you’ll be laughing all the way to the bank.
The True Expense of Cutting your Marketing
Axing your marketing may appear to save you money in the short term, but the consequences could be disastrous in the long run. Business owners should be aware of what they are giving up when considering stopping their marketing efforts because it is more than just a few new clients or purchases.
The long-term effects of ceasing marketing can significantly influence growth and profitability. A business risks revenue losses, decreased market share, and possibly even failure if it lacks a competitive edge, an engaged customer base, brand recognition, and new opportunities. Prioritising marketing has never been more crucial (especially in these trying economic times), and by doing so, business owners can continue to thrive.
Adaptation: The Key to Continued Success
Maintaining a strong customer base, keeping up with rival businesses, and ensuring your future survival while juggling job, family, and financial obligations can be overwhelming in the business world. But if there’s one thing to bear in mind, it’s that you should always be ready to deal with any changing circumstances that may arise. Consciously choosing to invest in the growth of your company, your clients, and yourself means recognising the importance of marketing and keeping it a priority.
This article is written by our 2023 Expert Sponsor, Sonja Pototzki Raymond, from The Search Republic. Contact Sonja today for help keeping your marketing on track!
ABOUT SONJA THE SEARCH QUEEN:
Sonja Pototzki-Raymond MSc is a CEO, Google Search Expert, Speaker and Business Coach helping her community outrank their competitors online.
A force to be reckoned with, in 2018, Sonja founded The Search Republic (formerly known as The Marketing Republiq), and within 4 years, has generated over $350 million in sales for her clients. With a global footprint and a long client waitlist, The Search Republic is now one of Australia’s most in-demand Google-accredited digital agencies.
Educated with an honour’s degree and master’s in marketing, Sonja combines her Google Search smarts with her big heart, passionate about making a difference to her client’s bottom line, the environment and the business community.
With 17 years of global marketing and advertising experience, including working for many high profile international brands – Guinness, Jameson, Nestle, L’oreal, Special K and Benefit Cosmetics, to name a few, Sonja is renowned for accelerating growth and transforming businesses using ethical, effective and sustainable Google Search strategies.
If you’re keen to learn more about Google search follow Sonja on Instagram @sonjathesearchqueen
Sonja #GirlBoss uses her extensive digital marketing agency experience to offer you honest and professional business growth with transparent results.