In the aftermath of Hurricane Harvey, the massive Houston-to-NYC Colonial Pipeline has been shut down, creating a huge gap in the local gas supply chain. With a DFW gas shortage on the horizon, this morning has seen the area around our office in a total panic!
This sudden gas shortage got us thinking about the implications of a supply chain hang-up in other businesses. The key question we came to was “what should you do when your leads dry up?”
Always be prepared for the unexpected or expect to lose lots of revenue. Make sure that you’re prepared for disaster with five tips from our marketing experts!
Know your competition
As of this morning, many local gas stations have hour-long lines or have already shut down. When the pipeline goes down, you’ll want to know who else is rushing to the pumps.
Can you get there first? Are you willing to expend the same resources as the competition? If not, make sure that you’ve done your market research and have a backup plan to get through the tough times!
Always be aware of what you have
Can you imagine driving a car without a speedometer or gas gauge? That’s what running a business without metrics is like.
If you want to be prepared for the worst, make sure that you’ve got a good handle on your sales levels, ROI, and attribution model. Know how fast you can go (how quickly you can turnaround a project or get new clients) and how far you can get (how long you can go without new projects or leads).
Always maintain your ability to scale
Don’t wait until your tank is almost empty to fill up! You should always maintain enough gas for a long trip.
Similarly, in business practice, you should always be ready to scale your efforts at a moment’s notice. It’s always good to have a network of external contractors and well-documented internal processes if you suddenly need to scale your operations or generate demand for your products and services.
Expanding your email marketing efforts can also give you some extra oomph for the long haul!
Expand your existing services to clients
When there’s a gas shortage, there’s one solution that’s always a great idea: carpool. When the going gets tough, working together with people you can trust (existing clients) is a great way to stay afloat.
Consider having a plan to offer additional services to your clients that you they may not have considered. Show your clients your value!
Don’t spend more than you need to
When gas is in high demand, the price gouging begins. Don’t over-extend your budget trying to keep fuel in your tank!
Expanding your services with an external contractor can be like hiring part of an employee without having to pay for all of the extra expenses. If you just need help with your latest PPC campaign, consider hiring outside help instead of hiring a full-time employee.
With the five disaster preparedness tips above, your business will get a leg up on the competition when the going gets tough. If the supply chain takes a hit, you can breathe a sigh of relief because you’ve taken preemptive steps to prepare for the worst-case scenario!