Uncommon sense wisdom for a down economy
Monday, October 13th, 2008 - by Becky Sheetz-RunkleRight about now, it can be easy to let ourselves get down. From the most recent Dow drop, to our shrinking 401k values, to having our marketing budgets either slashed or frozen. Sometimes the silver lining is hard to find.
Clients, colleagues and friends—even the optimistic ones—have shared that they’re bracing for a difficult 2009. Their venture capitalists are cautioning them to be very careful with spending. Tech service providers in the financial services sector are expecting—though not yet fully experiencing—repercussions. Manufacturers aren’t reimbursing marketing spending as they have in the recent past.
The bottom line: many are hoping to finish 2009 with flat growth.
But as marketers, we have the power to create success and drive revenue for our organizations. We have the potential to represent differentiators for the companies we represent.
Six Ways Marketers Can Create Corporate Success
Tomorrow is uncertain, my fellow marketers. But some things are for sure. In uncertain times like these, we need to double back and remind ourselves of the certainties we do have. We know what we know and the principles of sound marketing remain the same. Marketing will still drive revenue growth. Profits are still being made—and they will continue to be made. Smart, innovative, well-managed companies will succeed. Some will flourish. Here’s howe we can drive our companies to come out ahead:
1. Remember the basics.
This is also a euphemism for “keep it simple, stupid.” The basics of tried and true tech marketing are the same. They’re even more important when budgets tighten. Now more than ever, you must demonstrate your value proposition in a way that differentiates you from your competitors. Revisit your company’s high level messaging. Is your value statement compelling? Be clear and motivational in leveraging past performance. Now more than ever, talk about ROI.
2. Be positive.
Some days this is easier than others. (Has the Dow dropped since you began reading this?) But it’s important for us to focus on the positive. Focus on our achievements corporately and as marketers. No one wants to work with losers. No one wants to be surrounded by negativity. If you tend toward negativity or could use some positive reinforcement, Napoleon Hill’s timeless Think and Grow Rich is a fantastic motivator.
3. Innovation breeds longevity.
In addition to leveraging the power of basics and positivity, be innovative in your marketing strategies and execution. If you have a smaller budget, you’re probably being called on to do just as much as you did when you had more. That’s going to call for some creative thinking. This is where smart marketers can really shine. And it’s where hand-wringers fall flat. Insert your own cliche about rubber and road, wheat and chafe, etc. The point is that this situation presents an opportunity for the exceptional among us to excel.
4. Toot your own horn.
There’s no time more important than now to shine a spotlight on the achievements of your marketing department. Temping trends in corporate marketing, even at the senior level, are at an all-time-high. Need a better reason? To demonstrate your wins, you absolutely need to have quantification strategies in place for your programs. Learn more about executing measurable marketing programs here: http://www.marketingprofs.com/7/four-tips-building-quantifiable-marketing-programs-sheetz-runkle.asp
5. The trust factor.
When times are tough, there’s turnover. Keep up with colleagues who move on. The plethora of social media outlets make that easier than ever before. You never know from where you next career opportunity will come, or how your paths may cross in the future.
6. Be a resource.
Commit altruism. Help people. Be a resource for colleagues and friends. Connect people with other professionals, information, products, etc. Keep your eyes on the big picture and the actions you take on behalf of others will come back to your benefit—in one way or another.
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