Marketing in a time of
economic downturn

BY DAVI WASSERSTROM

In times of uncertainty, industry-leading organizations work diligently to maximize their visibility and instill trust. And doing so means relying heavily on the core values that define them. But values alone aren’t enough. Rather, the process of communicating those values, both internally and externally, is vital in order to transcend market conditions that today are, at best, extremely challenging.
As the A/E/C industries continue to navigate the current economic downturn, news holes that help businesses promote products and services have shrunk dramatically. Simply stated, fewer ads yield less space for news and features. In 2009, this trend will surely continue.
Yet from a PR perspective, this apparent problem presents a unique opportunity for professional service firms and organizations to tell stories about ways in which they work to overcome external challenges–and even prosper. Right now, trade and consumer editors, already stretched thin among their dwindling ranks, are hungry for stories that demonstrate ways in which businesses attempt to address current economic conditions.
In an ever-widening media landscape, the competition for your attention has grown fierce. Editors and reporters, therefore, must work harder, smarter and cover more ground using fewer resources than ever before. And they must continue to tell stories. Stories that resonate.
Think about nearly everything you see on television today. Content is built upon storylines that seamlessly weave conflict and resolution. Trade and consumer publications and outlets are no different; they’re in the story-telling business, period. Their staffs can’t be everywhere all of the time, and whether they admit it or not, they need your story.
Everyone’s budgets are challenged these days. But now is not the time to be passive. Prevailing wisdom might suggest that cutting marketing dollars will fortify a sagging bottom line. But as your competitors follow this strategy, they channel less information to customers and prospects–theirs and yours. The question then becomes, who will seize this opportunity and fill the void?

Might as well be you, so ask yourself:
1. What steps are you taking during the economic downturn to stay competitive, or even grow? If your business plan has changed to any degree, your communications tactics should align with those changes in order to reach your key audiences most efficiently. And if you’re targeting different audiences as well in 2009, you should adapt your communications tactics accordingly.
2. How are you looking ahead based on challenges in the industries you serve? Have you conducted market research, and if so, what have you found? Often, these insights provide not only the basis for sound business decisions, but they signal industry trends that reporters seek in covering their beats.
3. What enables your organization to weather economic conditions like those we’re experiencing now? List your competitive advantages, then think about ways to promote those advantages–both through media placements, and through direct contact with your clients and prospects. Tactics such as dimensional mailers, e-newsletters and case studies are great tools to help articulate your value.
4. What are you doing differently to solve client challenges or provide unique solutions? The old adage ‘Necessity is the mother of invention’ rings all-too-true during tough economic times. Yet smart firms emerge leaner and more focused as a result of these conditions. Think about ways in which you’ve innovated recently from the standpoint of the deliverables you produce, and the ways in which you produce them. And what can professionals in other trades or industries learn from your innovation?
5. Is there a feature of your service model that is exclusive in Northeast Ohio? Nationally? If you do something different, something quantifiably better, faster or less costly, then prospects should know about it, and the media is a great outlet for getting your message across. Formulate a story lead in your head, or better yet, write it down. And always, consider the reader’s perspective; PR, like pure journalism, is not advertising–the information you convey must have value beyond simply stating the benefits of your people and your services.
More than ever, it’s essential today for an organization to speak with a genuine, consistent voice across all platforms, in all markets. Doing so lets your customers and prospects know that you remain vital and relevant; that you employ creativity and forethought in your efforts to reach them; and that you do great work. BXM

David R. Wasserstrom, APR, is President of Vantage
Communications. For more information, visit vantcomm.com,
e-mail david@vantcomm.com or call 216-456-0135.

Marketing vs. selling in times of trouble

BY JEAN LEATHERS

Recently I learned of a firm that needed to bring in new work. To prospect, they conducted three direct mail campaigns to three purchased lists in three different market segments. Each campaign offered the recipient a way to express interest in the firm by call, email, or fax back. The response to 3,600 letters with brochures enclosed: 0.
Why do we convince ourselves that marketing will bring in work? Because it’s easier than selling. We think marketing will “get our name out there” and business will knock on our door. Marketing increases awareness.
Selling brings in work. Yes, the S word.
In professional services, more than any other buyer/seller relationship, trust is the number one factor. If you were going to spend several millions on a project, wouldn’t you want to know the person you’re about to hire, and believe that they care enough to get to know you and what you need? Establishing trust in multi-million dollar transactions requires building person-to-person relationships. That doesn’t happen from a mail campaign.
The discomfort with selling in professional services is perspective. It stems from thinking that we are trying to get something from someone: a project, their money. But when the focus is on giving, the interaction is different. If you truly believe that your firm provides outstanding services, it follows that you truly believe you can help someone who needs those services.
Next time you meet with someone to discuss opportunities, try on some new thinking. Adopt the attitude that you’d like to help. Be in “give” mode, not “get.” Not only is it more comfortable. It’s more effective. BXM
Jean Leathers is principal of Leathers Consulting,
a leading sales and marketing consultant.

Touting your green-ness even when times are tough

BY COLLETTE CHANDLER

Now is definitely a time of economic uncertainty, but there are so many things contractors can do to make decision-makers aware of your green products and service offerings. And if you are a green or environmentally friendly in the way operate, you have even more opportunity to tout your green credentials.
As budget belts keep tightening, you need to make room for marketing. Much research has been done about companies who continue to promote themselves during a recession. Not only do they rise above the clutter, they also continue to pull out in front even after the recession has ended.
But you need to be more creative and targeted with the marketing dollars you have. And you need to know, not guess, what works and what doesn’t regarding your advertising budget. The Marketing Insider conducted in-depth research on what influences green buyers to purchase. They are driven by values. If they are aware of your brand and believe your values, then they’ll support you. Think about what you offer and focus on this concept in your PR, ads, and messages.
Are you familiar with zero or low VOC supplies? Do you only use them or do you include them as part of your service offerings? What can you advise about being more energy efficient? Are you able to show them a cost and ROI comparison?
It’s really not enough to just tout features such as being green, You have to explain what sets your company apart from the rest. Is your staff trained to address client questions and understand their needs? Can they talk about your mission and values as a company and a brand?
Here are some additional tips to help you get out in front even during the present economic climate:
1. Talk about your stance publicly and often to the clients who value it the most. PR is one of the most effective strategies for educating the green customer and telling your story. One study suggests that a well-planned and well-executed PR strategy can deliver an ROI of up to 8 times the initial investment.
2. Focus on optimistic stories and positive solutions. In times of economic uncertainty, consumers want to hear stories of hope and opportunities—what’s possible.
3. Focus on green success stories from real projects. How have real clients used your company’s products or services.
4. Go beyond awareness and show people how to get involved. Show them how your company and/or brand is getting involved, and what they can do to also become involved. Start a local project and let the media know what you did that was unique. BXM

Colette Chandler is president of The Marketing Insider, 614-776-1416, cchandler@marketing-insider.com