Saturday, April 12, 2008

During Economic Downturns It’s Time Turn Up Your Marketing

Written by:
Bonnie S. Kaye, President, Kaye Communications, Inc.

When tough economic times threaten, the natural instinct for most business owners is to cut back rather than invest for success. However, true visionaries proactively use the downturn period to re-vision and ramp up investment in their marketing communications to bolster their brand awareness.

They know that, even in a shrinking marketplace, there is ample business out there, and they aggressively pursue their share. Effectively trumpeting their company’s distinctive features, advantages, and benefits in the most targeted way to qualified audiences who want or must use their products or services will propel them to surpass their competition.

Just as businesses rely heavily on the specialized advice of their attorneys and accountants, visionaries know the value of having a strategic communications counselor on their senior “think tank” team. Engaging an outside counselor, such as an integrated marketing and public relations firm, will:

assist in objectively reviewing, evaluating, and re-visioning to best capture market and news media opportunities today, while planning for future growth.
provide thought-provoking outside perspectives to prevent costly tunnel vision
save money (by averting detrimental mistakes in image building, branding, printing/production; and eliminate non-results-generating activities/initiatives)
help grow business by:
developing and managing a flexible strategic plan
identifying and introducing new and untapped markets, referral sources, and media opportunities
recommending on-line diversification and/or repositioning
increasing credibility by serving as your “market” ambassador
interacting with the firm’s established relationships
help avoid or navigate through an unanticipated crisis (The time to search for a crisis manager or plan for a crisis is not while you are in the midst of one!)

You want to engage a communications expert that embodies integrity, has market and media respect, a proven track record, provides one-stop integrated marketing and public relations services to ensure consistency of message, and is up for a challenge (because challenges will surface in this economy!).

To be results-hearted, you cannot be faint-hearted. Be open to new viewpoints, concepts, and technologies; and prepared to commit the sufficient financial resources to “get the job done right”; and be readily accessible and involved in the initiative.