Trylon Communications  - Volume I Issue 7
       

Are You Biding Time - Or Positioning For Success?

Many companies choose to take shelter during economic storms, riding them out by reducing expenses, cutting staff, and sticking to core markets. They wait for things to turn around before thinking about expansion. According to a recent report from Accenture, that may not be the best approach.

One of the Rockefellers once said, "The time to buy is when blood runs in the streets." In other words, buy when the market looks worst. Astute investors buy on the dip and sell on the peak. This approach is effective because it is so antithetical to the "market" thinking.

Similarly, companies that engage in market positioning, expanding boundaries, acquiring assets and testing new models during a general downturn find themselves miles ahead of businesses that take a "bunker mentality."

The authors of the Accenture report point out that companies do better by preparing ahead for the inevitable upturn than they do by trying to forecast the upturn itself.

Some recommendations include: keeping ahead of the pack by cutting costs, staying financially fit, making strategic acquisitions, building future demand - and maintaining flexibility to build resilience while maintaining core values and principles.

Outside the organization, the report stresses the need to build communications and networks - that companies need to rebuild trust with investors while maintaining or expanding their position in the markets.

During a slowdown, many companies slack off in the marketing area. But this has consistently proven to be a bad move. Reports show that time and again, companies who maintain or increase their marketing during slowdowns have a big jump on competitors when business picks up.

Think about it - do you want to be doing business with someone you haven't heard from in a few years, or with a company that has been sending you reports and communications, and that you've read about in articles and news reports?

PR strategy during a business slowdown is extremely important. Companies that maintain a press presence can gain advantage over companies that are reducing their exposure and losing positioning.

The battle for mindshare is always raging. The generals who press the advantage when the opposition is retreating are the ones who win the war.

To see the Accenture report, click here.

Sales and Marketing Problems that PR Can Help You Solve

The economy is in a slump. Marketing during a downturn is vital; nearly all case studies support this. When marketing dollars are tight, PR is the most cost-effective way to maintain and build market share.

Your competitors are bigger than you and can outspend you in advertising. PR, because of its low cost and high impact, can level the playing field.

Your product or service is the best - and nobody knows about it. PR can get word out in a more believable way than paid advertising.

Your product isn't better than anyone else's. PR can help set you apart and convince buyers to see you as the leader in your field.

Management cuts your marketing budget. PR can make up the shortfall, at a fraction of the cost.

Management demands tangible results. Publicity results can be monitored and measured.

Traditional marketing isn't working anymore. PR overcomes the skepticism that consumers have built up against paid promotion.

Your competitors are getting all the good press. PR can help reverse the situation.

You need venture capital or are planning an IPO. PR gains you the visibility to make both of these propositions more viable.

You have a good story to tell. Some organizations, causes, products, and individuals have an inherent appeal to the media. If that describes your company, why not take advantage of it and profit from it?