As we press hard into the 4th quarter, GovCons are engaging in their final efforts to gain contracts in FY ‘22. Creating visibility of your goods and services with your potential buyers is key when interacting with the agencies with whom you want to do business. If they don’t know who you are and why what you do or sell is what they need, how can you expect them to know you or care when you submit your solutions to their needs?
There are different levels of marketing efforts for each stage of growth in the industry that make sense to incorporate into your regular business practices. Thanks to our partners at Ocean 5 Strategies we can chart a course of action for utilizing marketing tools that will assist in gaining visibility and growth to fit your budget.
You’ve heard me say often that having a plan in place for growth and setting benchmarks to gauge success and failure is key. The same is true for developing the path you will take in marketing your business. According to Ocean5 Strategies, “In all cases, an initial investment in a marketing strategy will establish a clear roadmap and should include a budget for your specific scenario.” Through each stage of growth, you should implement as much as you can afford to promote your business professionally and in a way that will grow your visibility within the ecosystems you are seeking to engage. The suggestion is that “The actual level of investment varies depending on the company life cycle position and is inevitably adjusted where cash flow considerations prevail.”
For more information concerning where your company falls in the use of marketing support and the recommended strategies for each stage of growth in the GovCon lifecycle, you can refer to this article by our partners at Ocean 5 Strategies.
We encourage you to reach out to them for all of your marketing needs to better position yourself and your business in the federal marketplace!