Marketing Today and tomorrow

Consumer products and services companies have always understood the power of the brand. Just ask anyone how valuable are brand names like Nabisco, Marlboro, Coca-Cola, Nordstrom or The Ritz and you will quickly understand why brands are so highly prized and protected. But what of your own firm’s “brand?” Most small to mid-size firms don’t even realize that they have a brand, but every firm does. Your brand is not simply the logo on your letterhead or website. It is even more than your tag line, if you have one.

Many small to mid-size firms simply do not believe they have the time or resources to hold an annual off-site strategic “retreat” or “advance” (as they are sometimes called!). While the time away from the office, combined with the potential cost for an outside facilitator, is burdensome, the rewards can be worth the effort.

During the course of a “normal” day – whatever that is – there is really no time for considering anything beyond the immediate situation.

Frequently when talking to bankers, attorneys or other referral sources, someone will ask who is on our “hot list.” The bankers seem to do a much better job of singly out key prospects, companies that are being specifically targeted as a new business opportunity. These companies can be gleaned from a database targeting a geographic area, an industry, or even a specific size company.

I confess that am growing somewhat tired of every article and every presentation beginning with “in this challenging economic environment.” I hear it at Chamber of Commerce events, business presentations, read it in articles on marketing during a recession, and in general am feeling somewhat overwhelmed by the dire message. It is reality, and I recognize this is an unprecedented economic situation we currently face, but it would be great to start a discussion on a positive note for a change.

Create an advisory board

With all the wonderful marketing ideas that exist –one of the easiest things you can do is form an advisory board. This board can be comprised of a mix of your own clients and business colleagues. They should be people whose advice you trust and whose judgment is respected in the business community.