I've been thinking a lot lately about how clients and prospects are reacting to this economic environment and the role they are expecting marketing to play in helping them get through this.
At the beginning, it seemed everyone was acting from a place of fear, most marketing and outbound communication to clients and prospects was put on hold or greatly reduced and they largely entrenched themselves into internal affairs. To me, it seems the shock of the whole thing is beginning to wane and ever so slowly companies are starting to realize they can't go dark from the marketplace forever. What they're choosing to do instead is pick and choose projects and then engaging us to execute.
Don't get me wrong, we're thankful clients are calling again. And, I am encouraged they are choosing to re-engage with their clients and prospects. However, why is it that when strategy is more important than ever and budgets need to be used in the most prudent way possible that clients are more and more reluctant to engage their marketing agencies to assemble a strategy?
In our four year history, we have never written fewer plans than we have this year, and yet, companies need to be smarter and more strategic with every resource they have in this environment.
I get it. I run a small business too. Money is tight and human capital is stretched further than ever. But don't forget to stop and take the time and spend the money to be strategic. It's the thinking behind the message and the strategy that went into the communication that makes it effective.
I ran across this quote in a recent article I was reading from RSW/US. They help agencies build new business programs. Look at the advice he gives his clients - it's not a quick fix, have patience and engage consistently.
At the beginning, it seemed everyone was acting from a place of fear, most marketing and outbound communication to clients and prospects was put on hold or greatly reduced and they largely entrenched themselves into internal affairs. To me, it seems the shock of the whole thing is beginning to wane and ever so slowly companies are starting to realize they can't go dark from the marketplace forever. What they're choosing to do instead is pick and choose projects and then engaging us to execute.
Don't get me wrong, we're thankful clients are calling again. And, I am encouraged they are choosing to re-engage with their clients and prospects. However, why is it that when strategy is more important than ever and budgets need to be used in the most prudent way possible that clients are more and more reluctant to engage their marketing agencies to assemble a strategy?
In our four year history, we have never written fewer plans than we have this year, and yet, companies need to be smarter and more strategic with every resource they have in this environment.
I get it. I run a small business too. Money is tight and human capital is stretched further than ever. But don't forget to stop and take the time and spend the money to be strategic. It's the thinking behind the message and the strategy that went into the communication that makes it effective.
I ran across this quote in a recent article I was reading from RSW/US. They help agencies build new business programs. Look at the advice he gives his clients - it's not a quick fix, have patience and engage consistently.
"When [the new client] signed on I had to be extremely upfront about the time it takes to build new business. I told the principal that we weren't going to be the "pot of gold at the end of the sixth month rainbow". This principal understood and agreed to work with us despite my best attempt to scare the heck out of him.
Reason I bring this up is that for every client like this, there are plenty out there who stop and start their new business efforts, plenty who don't take the time to build the right messaging and collateral, and plenty who don't keep their eye on the ball and patiently stay the course to win new business.
It's easy to over-react, particularly when things aren't as good as they can be. Take your time. Give yourself time. Look at your world objectively. And make sure you're realistic about what you can and can't win."
If you engage in new business - both the sales and marketing involved to have a strong new business effort - there is going to be pain involved. That, I can guarantee. It is going to be painful to consistently carve out time yourself to engage in it or to monitor the progress of your team. There will be hard decisions to be made when it comes to deciding to fund marketing or keep a person. If you're truly committed, it will be painful at times, but it will be worth it.
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