Guest Post: Marketing Basics to Grow During a Recession

Original Post by Leigh George, Ph.D, Director of Strategy, Moiré Marketing Partners

We all know that it's smart to market during a recession and that firms that do market are better positioned when the economy turns around. If we all know this, why aren't firms flexing their marketing muscle now? Here are tips on how firms can position themselves for growth in the post-recession economy that bear repeating. They're not earth-shattering. But they are marketing basics that you can't afford to ignore.

1. Incorporate social media into your business development efforts. Your clients, prospects and their suppliers are using it; you should strategically use it too. Leverage tools including LinkedIn, Facebook and Twitter to connect with prospective clients and other professionals to build your network and demonstrate your expertise.
2. Be a brand ambassador. Remember, you are the face of your company's brand. Use your interactions to communicate your firm's brand promise and support that continuously in your efforts.
3. Network. Relationships matter. Social media is a great way to start a conversation with a client or prospect - but don't let it stop there. Offer to meet new and old colleagues at an upcoming industry or bar association meeting, civic event, non-profit activity or social mixer - or host your own hospitality function at your firm.
4. Seize the podium. Apply to be a speaker at upcoming events. If you aren't accepted, attend anyway to get a better handle on what topics are creating buzz.
5. Learn from other professionals. Invest in consultants to sharpen your brand. An outside perspective can help you assess the effectiveness of your business development efforts and offer insight into what strategies would work best for your personality type.
6. Be active in your home and business communities. Dust off those memberships in the local chamber of commerce and non-profit organization. Get involved in industry related activities and slowly increase your profile.
   

Black Ink is the New Black

My career path has spanned a wide range of journalism and communications endeavors -- on-air newscasting for several radio stations; the assignment desk at WCBS-TV in New York; several public relations firms; and even a stint as head of corporate communications for an international telecommunications manufacturer -- in total nearly 30 years.

I've been priviledged to launch and build several hundred companies, take many of them public and support several multi-national organizations. The body of work has spanned numerous industries from trucking to tech; for-profit and not-for-profit to highly unprofitable; and domestic and international.

Despite having worked for so many entrepreneurs and consulted for so many other organizations, nothing quite prepared me for the roller coaster of emotions and milestones related to the launch of my own business.

December 2008 was filled with lawyers, accountants and real estate agents (oh my!). Friends, colleagues, recruiters, clients and other insiders lined up with often conflicting advice.

On Jan. 2, 2009, our fearless team of four launched Feintuch Communications. Three days later, we incorporated. The first months were filled with serving our early clients -- 3rd Dimension, GAIN Capital, Marketcetera and Tervela -- while at the same time, moving, naming our entity, creating our corporate identity and brand, hiring staff, developing systems and creating a corporate culture. All this while trying to figure out the straightest line to black ink -- a formidable task in the heart of the greatest recession in decades.

My wife, Alice, a geriatric social worker and care manager for the Westchester County chapter of the Alzheimer's Association, went from second income status to primary breadwinner. We all tightened our belts to settle in for the long haul to give the new business as much runway as possible.

In April we launched our website and added new services. We disseminated our own launch press release and announcement cards went out. News articles began appearing. And slowly, things began to click. Referrals started coming our way from our ECP Global international network and our network of hundreds of friends and business colleagues from around the world. While we sadly observed many of our friends' firms contract and downsize, we slowly added accounts. Bluenog. Moire. AccelerOptics. The Linux Box. Hanger Network. RadMD.

Last Friday, half way through our sixth month, the lastest chapter started unfolding. Word from an advertising and marketing prospect that we were hired. More good news today from a life sciences company. And so now, as the clock strikes midnight on the east coast, and as I prepare to take my wife to dinner and Broadway to celebrate our 25th anniversary (June 17), the red ink dried up and turned black.

The adventure continues -- staff hiring, new business meetings, launching our new clients, hustling to satisfy our longer-term clients and preparing to speak at the PRSA International Conference in San Diego. To our clients, friends, supporters and families -- thank you. We hope to continue earning your trust... and black ink.

Know Your Mark

One of my friends, Kelly O'Brien, was named a "Top Tech Communicator" by PRSourceCode in 2007 for her acumen in pitching technical stories and exemplary work with journalists.

I was happy for her ...

While at the same time secretly worried that if accolades were given for excellent work there might also be a designation for the opposite and a horror show pitch written by a young Steph Johnson might be lurking in the public domain ready to catapult me into the limelight for “the worst pitch on the planet.”

Last week I had an exchange that made me think about this issue again. I used the phrase "editorial opportunity' in a pitch to editor Alan Z. who had just written a blog about why these two words are like nails on a chalkboard to journalists. I didn’t use the term six times like the schlameil he called out in his post, but it was still a transgression.

Every flack worth their salt knows you never start off a conversation by saying “I’m calling to follow up a press release,” and you better as heck know what the outlet covers before you try and pitch your client’s shiniest widget. Beyond that we now have an arsenal of fantastic tools to make sure we don’t try to sell ice to an Eskimo.

It is our responsibility to take advantage of this data…

Before engaging in a dialogue, PR professionals should follow blog posts, check out tweets, investigate Facebook pages and read multiple articles so we understand the pet topics, axes to grind and basic philosophies of our journalists and can develop some kind of rapport with them.

This is not to suggest that personal knowledge is a substitute for what is crucially important in today’s competitive media environment - a strong story based on solid fact with credible third party endorsements, talking end users and an angle that will compel the readership of a particular outlet. However - and as most club bouncers will tell you - building a relationship is important. It won’t necessarily get your ugly friend past the velvet rope, but it could at least help get her closer to the front door!

What's in a Name?

As a young PR pro, you don’t have much time to take the phone away from your ear during prime pitching hours let alone delve into the inner workings of the communications business. However, at the center of a start-up in a rocky economy, I’ve seen firsthand how crucial it is to build your brand no matter the environment. That said, brand building doesn’t start at the corporate level alone – you need to consider your personal brand, your company’s brand and of course, your clients’ brands.

With not as many connections as my lovable (and well-connected) colleagues, I decided to start by working on my own brand – ultimately leading to greater credibility in the PR world. So I Kannekt, Facebook, Twitter, and Link In with colleagues and clients, groups and associations, with aspirations to one day have my name associated with a brand that stands for quality, hard-work and dedication!

It’s really not as difficult as I first imagined. Have a reporter friend? Follow them on Twitter to catch their most recent articles. Have a colleague you worked with at a previous firm? Connect with them on LinkedIn, then offer to meet over a cup of coffee to see what they have brewing in their life. It’s amazing how only one hundred and forty characters can open doors and opportunities.

So even with all of the warnings out there to “think before you tweet,” my feelings are, relax! Before social media, time was spent in idle email chatter and passing news through word of mouth. We’ve just changed our medium a bit to be more Web 2.0 (that’s your sign to cringe)!

So whether you’re @cconte, Joining my network!, or sending a message to your best friend, you’re taking the initiative to build a brand and form relationships.

The Best of Times...The Worst of Times

It’s April of 2009 and our new firm is just three months old. We launched in the midst of the economic tsunami that has taken hold of the U.S. and rapidly spread through world markets. Clever market timing for a new flavored professional services firm?

In fact, based on the reaction we’re receiving, our timing couldn’t be better.


We have entered an era of accelerated change – not just in our nation’s capital but throughout local and state governments, the financial sector, the automotive industry, the environmental and energy markets and more – indeed change is underway on a global basis and its impact on business is growing increasingly profound.


So, in forming a new breed of public relations firm, we didn’t want to simply recreate past business models. We decided to create a firm rooted in helping our clients grow their businesses, generate revenue and build their brands. To help accomplish that, we’ve surrounded ourselves with a network of partner firms and associates with whom we have been conducting business for decades. Top notch independent PR firms on every continent. Sharp copywriters and designers. Seasoned ad and marketing pros. Corporate finance executives. International trade law firms. Professionals focused on emerging companies and markets. The smartest minds in search engine marketing. And more.


We know we can’t do it all, but our extended network provides our clients with access to resources that can help them attain the velocity and support they need, through traditional marketing disciplines and beyond. For our new venture, and with a nod to Charles Dickens, “It was the best of times, it was the worst of times.”