When IS the Right Time to Invest in Marketing?

Investing in marketing is an integral part of your business’ success strategy.

Within the last year, the emphasis on digital marketing strategies has increased drastically. Due to lockdown measures and social distancing orders, businesses and consumers have had to move online for nearly all necessary operations. Many small business owners are realizing the need for a digital marketing strategy, and are questioning the validity of wanting to invest in marketing for their business.

So, why do people hesitate to invest in marketing? Traditionally, business models were set on the idea that “sales is first to hire, last to fire” and “marketing is last to hire, first to fire.” This isn’t necessarily true anymore. Consumer behaviour has drastically changed within the last year, let alone the last decade. In 2021 and going forward, businesses need to evolve their business strategies to include digital marketing strategies in order to ensure success and growth.

Start by asking questions about your current business situation – where am I in my business cycle? How much traffic does my business have? How has my business progressed? This helps determine the size of your business and where marketing can impact your business most. Once you determine your current business situation, you can assess where and when marketing will be most beneficial.

If your business is very new and doesn’t yet have a brand identity, or if rapid growth isn’t something you can handle at your current stage, you may want to reconsider investing in marketing right away. It’s best to get to know your business’ identity before looking to promote it. It’s hard to market a brand that doesn’t have its own identity – plans end up all over the place because decisions surrounding design and copy tone are not based on a specific identity. Investing in marketing confirms that you want to see your business grow and that you can handle it.

When your business has an established brand identity and has an infrastructure in place, it’s always a good time to start investing in marketing. With a marketing strategy working alongside your business strategy, lead generation and brand awareness will increase. Marketing also helps you determine a target market and audience and show you what niche market your brand falls into. If you’re ready to expand and grow your business, investing in a marketing strategy is always a great idea, and it’s always a good time to start.

The right time to invest in marketing is any time. The only time it isn’t the right time to invest in marketing is when you don’t have an identity to market – at that point, you aren’t marketing anything. Investing in marketing for your business in 2021 will increase your brand’s awareness, establish an audience, and help you find where your business can expand. Digital marketing in the 21st century is crucial to your business’s success, especially during a time where a face-to-face connection isn’t exactly possible. Whether you’re looking to establish your brand identity or are ready to start your marketing journey, Siva is ready whenever you are!

Check out Lean Labs’ blog post here for more information about the right and wrong time to start marketing. 

Keep up with us on our socials for more insight like this!

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COVID-19 Press Release

The COVID-19 pandemic has wreaked significant havoc on lives globally, and its impact has similarly devastated the business sector; challenging the livelihoods of those who depend on these businesses to feed their families. As one of the fortunate few, the staff at Siva recognized an opportunity to step up and adjust our model to assist the business community in examining individual business models and opportunities for future viability and, together, our clients have been able to thrive.

With today’s provincial “Emergency Brake” announcement, Ontarians and Ontario-wide small and medium sized businesses will be forced into yet another 4-week provincial shutdown. Siva recognizes the disparity and uncertainty facing both small businesses and the Not-ForProfit sector – and we want to renew our commitment to supporting the communities we serve.

With that in mind, we’ve got something planned. We can’t tell you just yet, but we will be releasing details of an initiative that we believe will at least play a part in easing the burden. Stay tuned! And stay strong!
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