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Did you learn from the last recession?

Its official – the UK is now in recession with house prices falling and consumer spending in decline but does this mean that you should stop promoting your business?

 The answer, if you needed to know, is most definitely NO.

During the last recession many major names started to disappear, they stopped promoting their business and thought that customer loyalty would get them through it. In reality their competitors started to shout about how good they were and customers moved.

The best example of this is a well know supermarket chain (we don’t want to name them as they get far too much PR already) – they saturated the market with marketing and came out of the last recession stronger, more profitable and more competitive.

So how does this reflect on your business? It’s fairly obvious really, when budgets are tight the last thing you should do is cut your marketing spend. It’s what most of your competitors will do but there may be one who doesn’t.

Stop Being So Bashful It’s Not Good for Business

“I don’t want to promote myself, I want to promote the brand or the company.” is something we hear all the time in PR. And yet, whatever your position on the pecking order,  you can help both company and brand by being a little selfish and raising your own profile. In particular the service organisation can benefit from branding its people (conjures up images of hot irons, which some would rather suffer than having their picture in the paper).  If the subject is abstract it will come to life in the press if we can use a picture of the CEO or technical expert…..professional shots only…no office digital cameras please.

Start getting your comments in on news release, write articles, blogs (get help from freelance writer or PR firm if you find this tough), go along to industry seminars and be seen…the list goes on.The point is; it’s good for you and good for your business, so do it. If you are a CEO it is actually the most important thing you can offer…because nobody else can speak with ultimate accountability on behalf of the business.

You will be amazed at how many old contacts come out of the woodwork and that young graduate that used to make you coffee is  now running a £100m budget and wonders where you have been hiding.

I could rant on about social networking, Linked-in, the dangers of Facebook photos from your gap year but that’s for another posting. For now, just stop being so bashful and get yourself known. It’s not showing off (you don’t work for your Mum …so it’s ok) it’s good business.

 

 

Commit to the shot, don’t hold back

“Anyone who uses the word ‘workshop’ who isn’t connected with light engineering is a ****** ” ( see: Alexei Sayle for expletive of choice)……or so I thought until I went on a course with Claire Patrick of Inner Excellence.  This workshop revolved around using tennis as a learning vehicle and I thought it was all a bit odd to begin with. Then I suddenly found I could serve, volley, do drop shots, backhands, the lot. I had gone from Muppet to Murray in the space of half a day. The day before I couldn’t serve a cup of tea. My problem had been too much need to control every movement, to minimise risk and not enough commitment.   In sport as in business you have to learn the techniques and then go for it. Don’t half hit the ball and don’t pull back or you will be guaranteed to fail. 

In the tough business world that faces us,  committing to the shot means taking that leap of faith and doing the things you know will raise your profile and win you business.  Companies like BA think it’s a good idea to save on PR by taking it in house. Maybe, but only if you have talented self-motivated people that will never leave you.  For many the choice to go in house is the cop out. On the surface it’s cheaper but have you really got a result or just an immovable headcount?

Silence…. not so golden…. Spin not so cool

The one good thing to come out of the financial crisis and the subsequent downturn is the understanding that saying nothing is no longer an option. Lord Chadlington, no less, puts it well in PR Week 7th November 2008:  “Silence will result- almost inevitably- in the assumption that there is something to hide.”  Whether it’s yachts and oligarchs or phone messages to Andrew Sachs the “no-comment” strategy will only get you into deeper trouble.  So tell the truth and tell it early.  I think we have all moved on from the idea of spin. It works for a bit, but like one of those cheap Bonfire Night sparklers it will fizz out sooner than planned and will burn your fingers if you are not careful how you handle it.

OK Now Just Get Me Some Sales Leads

We all survived the banking crash. We can live with the Pound sliding down the charts but we are now seeing the first signs of the recession and we could all do with some new business. So what do we do do? First and foremost, look after what you have got. Current clients will be inundated with offers from rivals and if you are not visible they may just be tempted by the siren voices. Second: decide who you want to do business with and start talking to them. Cold calling is good for the heroic souls but for most people that’s a tough ask (don’t you just hate that phrase but I cant resist Football-Speak) when you don’t have a reason to call. We have had some great success with multi stage mailings; alternating e-shots and physical direct mail to a highly qualified list. The key is to get live data and the ability to target by job sector, location, sector etc then to be able to personalise both e-shot and mailer. Digital printing makes this all possible. Finally you will never win business if you don’t talk to people. Make sure you do telephone follow up from the first e-shot. You will be able to see who has opened the email, who has clicked on it and who unsubscribed. One trick I liked was something that Jet2.com did, which was to gather data from a ski travel competition that you entered on their web site and then they followed it up with a mailer, flattering you knowledge of skiing. Always works for me. Finally finally, make sure you keep your online profile up by generating new stories that will appear when people do a search on you following your invitation to treat. Now stop moaning about recession and go and get some business.