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(EMAILWIRE.COM, January 23, 2008 ) Wagging the Dog, Recession and Marketing
By Rodger Roeser, APR
Okay, I have to say it. All the talk about recession and now I’m actually starting to believe it – although I fear that much of it is self fulfilling in how we operate our businesses and overcome perceived obstacles. As the president of a leading small business public relations and marketing agency, a slowing of the economy is the death nail for some organizations. But, for the smart ones and the nimble, those that are prepared, now can be the very best time to take action and increase market share.
Think of it like purchasing stocks when the prices are low – now is a good time to buy, if you understand the value. And, what is more valuable than not just keeping your business solvent, but actually increasing market share during an economic downturn. Many organizations use a so called recession to begin slashing their two most important assets that actually make the company money – the people and the marketing of their products. Now admittedly, many companies hold dead weight in personnel and now is an excellent time to be reviewing productivity. This seems perfectly common place when looking at labor, yet rarely is this simple method applied to the outward marketing spend.
If you are in the business of selling shoes, why do you have a mini agency working internally, eating up precious overhead with a non core competency? And, why are you spending all that money on the software and the programs and the training – you have an accountant and a lawyer that work across town, right? Large, internal marketing teams are rarely a smart choice for a small to midsized organization – overhead is too high and it’s nearly impossible to weather downturns. And, no matter how much you invest, I guarantee most agencies have better tools and more expertise than you do.
So, if you’ve never considered hiring an agency before, now may be the perfect time to look at outsourcing this non core function. That said, if you currently do use an agency – time to look at the rates you’re paying. Agency rates vary wildly from agency to agency and from region to region. So, consider this – if you’re a small to midsized business in New York, it may not be smart to call a New York firm as likely a Midwest firm could do just as good if not better for a fraction of the cost. It’s all about stretching your marketing dollar, and in the simplest of terms, $10,000 in New York won’t go nearly as far as $10,000 in Cleveland – you’ll have more agency time, more agency personnel, and more attention for your investment.
Also, in looking at your existing agency, don’t be afraid to discuss rates – after all, America was built on competition. True, some agencies may be better than others, but in general, a reputable firm is a reputable firm and will do a good job for you – don’t pay more than you have to and now is a great time to look around and gather some rates and information.
Speaking of which, when the economy slows and many competitors pull back, ad rates have this magical way of becoming less expensive – so again, your marketing dollars go much further. It’s less expensive to buy trade ads, radio and television airtime, and even sponsorships. Now is a great time to negotiate rates and buy in advance, as that gives you the best placement and the best leverage in negotiating great rates. If you’re not comfortable or don’t know how to do that – call a reputable firm. Also, keep in mind, with the elections, much space will be taken, so again, best not to wait to long, otherwise your buys will end up at 3 a.m. across squeezed between ads for chat lines and taco bell.
Bottom line is that now is a great time to look at your overall marketing and how by even keeping the investment the same or slightly less, you can actually do much more. Weigh your options and get second opinions. The more you know and understand as a business consumer, the more power and the more impact you can have for your marketing and marketing communications spend. A little homework and some options, and good business leaders could easily save tens of thousands of dollars and still yield better results. And, like the stock market – we’ll come out of recession and you’ll be further ahead than any of your counterparts who will now be forced to play catch up at “normal” prices – supply and demand.
About the Author
Rodger Roeser is the host of the nationally syndicated radio show That Marketing Show, a show that shares best practices in marketing, advertising, public relations and branding with top experts as guests on the show. He is also the president of integrated marketing communications firm Eisen Management Group and served as the 2005 president of the Cincinnati Chapter of the Public Relations Society of America. He can be reached at rroeser@eisenmanagementgroup.com or by calling 859.586.4302.
Eisen Management Group
Rodger Roeser
859.586.4302
rroeser@eisenmanagementgroup.com 
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