Busy? That’s a blessing. It is a great thing for your firm to be busy. I’ve talked to many firms over the last twenty-four months, and everyone is screaming for talent. They don’t want anymore work or any additional clients. Most firms are overwhelmed with the amount of work they currently have for their employees. That’s a good thing to have work coming in the door.
However, firms should still be marketing their services to clients and prospects. The big “R” will eventually hit our industry and if your firm has positioned itself correctly, you won’t feel the valley as much as others. A recession is coming. I don’t know when or how long or how deep, but it is coming. Be prepared for whatever that recession is going to look like. Positioning your firm and marketing your services right now, while you have the cash flow, will elevate you in the marketplace.
Determine what clients and projects are most profitable for your firm and what your employees enjoy working on. Focus your marketing dollars on those clients and prospects. Look for markets that are less prone to recessions and enter those markets. Right now is a great time for entry of new markets. Owners are looking for more options for design and construction firms. Don’t put all of your eggs in one basket but don’t waste resources chasing every opportunity either. It’s much better to be focused on clients and prospects.
Spending money on marketing right now may seem counterintuitive, but it will position your firm with options when the market is down. Marketing your firm to be top of mind for clients and prospects takes time, effort, and money. Make the investment now so you can reap the benefits in the future. Your marketing budget doesn’t have to be HUGE either! You can make a great impact with some low-cost marketing ideas that can be implemented now. Then you can continue to see those be harnessed over the next twelve to twenty-four months.
As Mary Kay Ash once said, “Nothing happens until someone sells something.” Marketing and selling your firm will keep the doors open and keep your people employed. Make the investment today. Contact nu marketing to learn more about how we help our design and construction firms build their business through effective marketing plans.
