When the will the recession end? That's the million dollar question.
Experts predict that the economy should begin to improve from the middle of 2010. What we do know is that the future is full of opportunities - if you are prepared.
During the recession public relations (PR) companies felt the pinch when many of their clients trimmed or even stopped their PR and marketing strategies due to budget constraints. However, while you may have lost a client or clients, maintaining a relationship through a series of direct mailers or friendly phone calls and emails is essential. This keeps your name at the top of their minds, lets them know that you are still alive and kicking and informs them of any new services or products you have engineered that could assist them during these tough times. Keeping contact with all existing and past clients may reap the rewards when they are ready to rebound.
Now is the time for PR companies to put in place a six-month strategy by inventing new products and services that will produce revenue.
Technology is always advancing and is an essential part of a PR strategy. Look at social media platforms, blogs and digital and mobile campaigns as an avenue to expand business for you and your clients.
Invite past and existing clients to share their plans for the future. Invite suggestions from them about what they need or want to achieve in the future. This allows you to create PR plans that can help them grow their business and achieve their future business plans. And don't be shy to ask for referrals.
Network, network, network. Be visible. Attend as many workshops, conferences and client events to keep your ear to the ground. This is a great way to promote your company and get new leads.
For businesses, playing your cards right and using the time now to increase marketing spend will align your company ahead of your competitors when the turnaround happens. Again, you must have a PR strategy in place to ensure your business is at the forefront of customers' minds. PR can be a cost-effective way to do this.
Building and maintaining a relationship with the media, through a PR company who has the right contacts, will also help increase your media presence when pitching new products, services, company wins or any other newsworthy information.
Having a comprehensive website is a crucial. If your website has become stagnant give it a fresh look. Start a blog and invite clients to participate.
Conduct market research. Firstly, get to know your client base again.
Then find out about your media presence. HMC Seswa has tailor-made a product for clients to better understand the media's perception about a company in order to evaluate how they are perceived by the media. A company may think that a few press releases will boost their companies profile amongst the media, but the reality is hundreds of companies are competing for space in the media. It is therefore vital to first understand the media you want to target, find out how well your company is perceived and then design the right media campaign.
Now is the time to think smart. Companies are going to bounce back smarter, more creative and hungrier for new business. Now is the time to streamline your business to better serve your clients and consumers.
When the economy does begin to improve, will you have the right staff capacity, products and services and finances in place to take advantage?
This is the question every PR Company and business should be asking and coming up with the answer.
