Wednesday, November 12, 2008

Counting the PR pennies can rob you of pounds!

Why do companies finding themselves shivering in the face of the recessionary chill determine that the best approach is to cut back on their marketing spend? Where is the logic in tryng to see through the tough times ahead by opting to lower your profile?

Now the vast majority of our clients know that actually, in this tricky times it will be the companies who focus on promoting themselves amid the ill advised who opt to hide who will flourish and be in the best position to burst forth when the good times begin to roll again! Indeed some are actually confident enough to increase their spending and are reaping the dividend.

Yes, businesses and customers are watching what they spend, but equally there are already less suppliers in the marketplace so those remaining are by default bigger fish in a smaller pond. It will be the skilful use of public relations and marketing that will be the fish food that allows such growth to continue during the recession.

Look at the advertising spend of the high street names out there - it has gone through the roof while their revenues are going down. It is a high stakes poker game and the savvy players are left at the table will be the winners.

It is not just marketing which bizarrely gets reigned in when the economy slows; training and recruitment can also be abandoned in the false hope of prudence. These approach also has the potential to cripple your ability to perform!

So just stop for a moment and think about the long term impact of any so-called prudence versus wrapping up in the short term security blanket.

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