The BV Blog

Marketing Thoughts From The Creative Team At BusinessVoice

Archive for June, 2008

MR. POTTER’S THEORY APPLIES TO MARKETING TOO

Thursday, June 26th, 2008

In the movie “It’s a Wonderful Life,” Mr. Potter - the local Scrooge - reminds the main character, George Bailey, that, during the depression, he and George were the only people in town to keep their heads. When everybody else was panicking and selling off assets at a loss, the two of them were calmly riding out the storm…and they emerged from the depression better off for it.

That same logic also applies to marketing during today’s tough times. You could panic, lay off your company’s marketing staff, and hide your money under the mattress. Or you can look beyond the next few quarters and see that smarter marketing is actually what’s called for. This is a topic we’ve covered before, and in her latest e-newsletter, Marcia Yudkin adds to the conversation. She writes:

“During a recession, scared businesses tend to cut back on marketing expenses. This appears to be the smart bet. After all, most customers have become more cautious about spending. So why not conserve your resources, wait out the downturn and have funds to spend when the economy picks up?

In fact, smart businesses expand during a recession because they know there will be a shakeout caused by the scared businesses shrinking.

During any recession, there are always more than enough clients out there to keep you busy if you continue to market, and market smartly. Capitalize on your strengths.

Make the most of your business relationships. Create or revive programs that enable customers to move ahead.

Above all, stay upbeat, putting the dynamics of self-fulfilling prophecies in your favor.

If you behave like the scared businesses, or target them, you will contract. If you market to the smart businesses during a recession, you will continue to prosper.”

Just as George Bailey did.

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AS THE MARKETPLACE TURNS

Friday, June 20th, 2008

In times of economic struggle, business slows down. For some companies, hard times lead to budget cuts, lay-offs, even closure. When the economy rebounds, the companies left standing are stronger for the struggle. 

In times like these, it’s important to position your business to be on the top of the heap when the economy turns.

But how?

Shift your strategy.
Instead of growing your customer base, which is tough to do in a slow economy, concentrate on customer service and penetrating your existing customers. New customers are expensive to court, and the ROI isn’t apparent until they become regulars. Your current customers will generally spend more with you, and they’ll appreciate the attention.

Shore up your marketing.
Prepare your company for the eventual turn-around. Spruce up your website and prepare it for new visitors. Develop an innovative product or service. Create an email campaign to re-introduce your business to your customers. Companies who prepare won’t get caught with their pants down when business picks up.

Hone your processes.
Can you think of 1 process you have in place that’s a complete waste of everyone’s time? Evaluate your internal systems and trim the fat. Get rid of antiquated processes and implement more effective tools. You’ll find yourself more productive in no time.

Focus on your team.
It may smack of cheesy corporate retreats, but you don’t have to do the “trust” exercise to achieve team unity. Promote open communication on all levels. Encourage your staff to job-shadow each other to foster understanding and cooperation. Organize a company outing. (Business is slow, so you’re not losing much by closing the doors for a day and heading to the beach or to your neighborhood bar for a little co-worker camaraderie.)

Whatever you do, don’t put your head in the sand and wait for things to get better. With ingenuity and passion, all things are possible.

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ADVICE FOR YOUNG CREATIVES

Monday, June 9th, 2008

A few years back a friend asked me to talk with her college-bound son, Jacob, about his chosen field of study - video production. She wanted me to share some of my broadcasting / marketing / creative experience to give him an idea of what to expect in the dreaded “real world.”

I wanted Jacob to be able to take something tangible away from our conversation, so I also wrote out my thoughts and printed them for him. A few recent experiences reminded me of that list, and I thought it might also be helpful for others in high school or college considering a career as a Creative.

*****

1) Talk to as many people in your industry and related industries as possible. Most people will be happy to tell you about their professional path, especially with someone who is really interested in what they do.

- Get lots of input about good and bad aspects of the industry.
- Which aspects of the work / industry came as a surprise to them?
- What have they found to be some of the keys to success?

Keep in mind that there’s never just one way to do anything, so don’t accept all input as gospel. Take the nuggets that work for you, plus those points that seem to be common among all your sources to find the “truth,” and use that information to plot your own course.

2)
Use your summer vacations to pursue work and/or internships in your chosen field. You may need to volunteer your time for the chance to work in the field, but you will…

a) Start to build relationships and a network within the industry. (So often it’s not what you know but who you know that gets your foot in the door.)
b) Learn things on the job you won’t learn in a textbook.
c) Gain valuable insight into how to find employment in your industry.
d) Learn the standards and what is expected of you in that industry.

The knowledge and experience you’ll gain will be more valuable than any money you’ll make at a typical summer job.

3) Whether you want to be a writer, photographer, graphic designer, animator or any other type of Creative, save your work a) for your portfolio / demo, and b) to learn from it. You’ll need to provide examples of what you can do throughout your career, and it’s much easier to pull from work you’ve actually done than create samples specifically for a job interview.

Also, looking back on your body of work allows you to see if you’ve grown artistically and skill-wise. At least in the early stages of your career, you should be able to look at a piece you did five years ago and be embarrassed by it. That shows you’ve improved.

4) Nobody owes you anything. Not a great salary. Not great benefits. Not even a job. As someone who hires young writers and voice talent, I can say there’s not much more frustrating than an unproven employee who feels he €œdeserves€ this or that because he’s accepted your job offer. Be prepared to earn your money, your reputation, and the privilege of doing something you love for a living. That can mean putting in the hours and doing the work no one else wants to do. But now’s the time to do that - and learn from it - when you’re young and don’t have the responsibilities of a family.

5) Be prepared for change. In the last 15 to 20 years, technology has brought about changes that most people could have never imagined just a few years prior. And change is only occuring faster these days. What you think you want to do for the rest of your life may not be at all what you end up doing. The broader your education and experiences, the better prepared you’ll be to handle the future, and the more you’ll be able to bring to your work.

6) And perhaps most importantly, if you don’t enjoy your work, do something else. No amount of money is worth being miserable forty or fifty hours a week. Life is too short to do work that’s unfulfilling and of no value to you. So, have fun and love what you do.

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