Like most people I awaited the results of the recent EU referendum with bated breath. The business world knew that if a leave vote became a reality it would send shockwaves through the financial community. Now the nightmare is real and as a business owner I am now looking towards the what next stage.
With market values plummeting and the pound worth 8% less than it was on Thursday, recession is a possibility. Marketing should now be your key focus to help sustain your business. I personally find having a group meeting with staff and explaining the situation to them to be quite helpful as they start to look for potential new business for you to help keep them in a job. But also I find that at the very least 5% of my monthly income should be invested back into marketing my business. Most SME’s cut their marketing during slower times and this can have catastrophic effects on your business.
Cutting your marketing budget means you rely heavily on referrals or your internet presence to find new work. But what if you don’t have either of these to help sustain your business? well then to put it simply you have no business. So as a small business now is the time to rally the troops and put all your effort into your online presence such as your website, social media, and other forms of online marketing.
Start looking at your marketing as a whole and look at where you spend most of your money and what the value of each service is bringing to your business. Work out which locations bring in the most work. Speak with as many existing clients as possible and ask them for online reviews of your product or serves. But most of all work out a simple budget and strategy that doesn’t break the bank.
The best place to start is look at your website and ask yourself does it really reflect your business and its services. Would you buy from you with your current website? If the answer is no! then start looking at your competition and other company websites similar to yours further afield to get an idea of what is possible. The next thing is make sure your current website is well optimised for search engines, loads fast, has well written content and good quality images. Also ensure your website is friendly to all devices such as mobiles and tablets etc.
I had a guy on the phone just the the other day who lost a project because an image was missing on his website. People really are that fussy when it comes to choosing the right company online. So it is of great importance that every element of your website be perfect.
The next thing to look at is your social media and other online platforms such as Pay Per Click marketing. These can be costly but can also yield results. Facebook is without doubt one of the best platforms to reach certain demographics and if done well can bring in a decent and steady income to your business.
So if you take a look at your marketing and think you may needs help you can always contact me using the details below and I will see If I can get you started on the right path.