It’s dominating the news, dinner conversation and about every other known communication on the planet so I guess it’s no surprise that I’m writing a blog on the subject. Yep…you guessed it – GFC!
To be honest, I despise the fact that we’ve actually gone to the effort of not only giving it a name but that we’ve even turned it into fashionable acronym! Like that makes it an easier pill to swallow or something! Crazy.
In any case, the real issue in terms of marketing now is, will you sink or will you swim?
There is no doubt that the economy is in recovery. You don’t need to be a one handed economist to know that. But what are you doing to prepare for this recovery? Obviously there are many business and financial aspects to consider but many organisations forget to examine how they will market themselves in these unusual and often unknown time.
The first place to begin is to revisit your strategic direction. That doesn’t mean it should change necessarily but it does need to be examined. Some strategies will need a total re-structure while others will need a shift in direction and many will simply need a massage or a tweak in order to take full advantage of the next 12 months.
One of the big issues is that many businesses lack the funding or capital to invest in their marketing. We see this on many occasions and it almost becomes a chicken vs the egg scenario between the need to increase stock and staff as the recovery turns back on and the need to sustain those staff and sell that stock. In reverse the marketing will lead to the need for more stock and more people. It’s a vicious circle but one that any growing organisation will face.
The answer lies in the age old philosophy of balance. There is no point in rolling out a massive campaign if you do not have trained staff, the stock or capability to service that increase in business.
What is vital though, is that you are prepared. The recovery is no doubt likely to be slow in comparison to the growth we’ve seen in the last few years, so the good news is that we have time. Utilising that time effectively to plan, prepare, create and budget your projection and campaign will not only make it easier to manage but much more effective.
It’s perfect timing for the smart business that wants to get ahead and take advantage of the growth that will take place over the next 12 months.
So what are you going to do?
Don the floaties and get paddling or tie a rock to your ankles and wave the world goodbye?