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12.23.08 Building Your Business in a Recession Without Fear  By Brian Solis If you're sheltering cash to focus on development, then cut the services and expenses that will not impede your ability to cross the threshold. If you're conserving funds to prolong life, then realize that the only fountain of youth is cash itself. Focusing energies on generating revenue, increasing visibility, and enhancing customer loyalty are the most effective strategies for underwriting longevity, and hopefully growth, especially during an economic downturn. The real question you have to ask yourself is, "How will my customers find me today and tomorrow?" I'm not sure if this is a newsflash or not, but customers do not typically go out of their way to "discover" your products and companies. They have choices and it's the job of any marketing and sales-centric business to reach their customers where they go for information – otherwise, they're out of the decision making process by default. Marketing and sales are the conduits for connecting prospects to your business. In a down economy, tomorrow's leaders are born today. It takes vision, focus, and a hyper-connected sense of what customers are seeking, why, and where. The reality is that there are hard costs tied to customer acquisition and retention. The key is to observe and listen to your markets to ascertain the most active and direct channels to reach and engage them. Here are several, targeted and affordable suggestions: 1. SEO – Customers actively use search engines to find relevant solutions. Keyword and organic search optimization is an inexpensive and effective means for gaining strategic presence. 2. Blog Relations – It's not just about news and pitching the A-List, creating a consistent and visible brand requires the inclusion of the authoritative, peer-to-peer blogs that your customers and influencers read for information, help and perspective. Oh, and be wise about using embargoes.
3. Media/Analysts – Reporters and analysts cover your space and by simply writing about your company or product, they can position you as an option among your customers; especially when they're researching options to validate decisions. 4. Direct Sales – Some of the most successful companies right now are concentrating on direct outreach to the decision makers instead of hoping to influence them from the sidelines. 5. CRM – Building a customer-focused business saves money and increases revenue. Focusing on customers and empowering them improves business processes, product development, and also offsets marketing expenses as "involved and participatory" customers transform from a cost-center into an active surrogate sales force. 6. Participate – Social networks are much more than mere time killers. Participating across the social communities where you're customers and prospects are active and vocal provide a looking glass into the thoughts, requests, opinions, dislikes, and recommendations. It also provides you with priceless opportunities to steer negative perception while also positioning your company as a resource. 7. Blog and Blog Comments – It may seem trite or perhaps even worthless, but I can guarantee that finding the time to host and contribute to a blog that demonstrates the expertise of you and your team is priceless. People are looking for information and direction, not just your blog but others as well. Go where they are and offer counsel, contribute to the dialogue and establish trust and authority in the process. Why wouldn't you position yourself as a resource for your customers or prospects? Too busy you say? Empower your staff. Contract outside experts to contribute to creating a one-stop-shop for insight and direction – just be transparent about their involvement. It costs less than you think to build a community around your value proposition and your ideologies. Continue reading this article. About the Author: Brian Solis is principal at FutureWorks PR, an award-winning PR and Social Media agency founded in 1999. FW PR bridges the communications gap between companies and their customers, and between products and their specific benefits for their target markets. Solis blogs at PR2.0, http://www.briansolis.com, and regularly contributes to many industry trades. He is also frequently quoted in articles relating to technology trends and Marketing/PR strategies. |
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