Recession-Busting MarCom Tip #5: Stick to Your Strategy

Last week I had the chance to talk with Paula Phelan, Ph.D, founder of Nadel Phelan, Inc., a Northern California PR firm that works with business-to-business companies.

We talked about social media’s role in the marketing mix, why marketing is essential during a recession, and how you can use marketing to help your clients help their clients.

DH: Paula, B2B thought leaders are debating the value of social media. Some say the ROI is minimal (i.e. leads and sales) while others say it definitely works. What do you think?

Phelan: I’m in the middle. In the B2B space, you have to use social media tools, like blogs, to deliver market and industry insight and knowledge. Your customers aren’t looking for “what I did today” fluff-type posts.

When considering social media and its value, you have to look at the entire marketing mix. Trade shows, outreach, seminars, webinars, advertising, direct mail and email all have their roles — as does PR. Social media is essentially PR. Ultimately it’s the least expensive and best method to reach your audience with a specific message without a lot of effort.

DH: How can marketing people work to ensure their budgets don’t get cut during a recession?

Phelan: You can find lots of reports that will tell you not to go dark during a recession, but the truth of the matter is, it is very easy to cut your marketing budget when resources get tight. A manager or business owner might think, “I need a salesperson knocking on doors and closing deals, not more marketing.”

Yes, you do need salespeople, but salespeople have a specific function, and that function isn’t about educating your prospects or building your company’s credibility. This is marketing’s function.

If you’re in a place where every dollar counts, then everything you do should have value. This means that marketing has a real opportunity to assist sales teams to sell more to additional customers — and you do that by finding out how you can help your clients sell to their clients.

Marketing needs to ask, “What is it that our customer’s need to win more deals? How can we position our products and services differently? What are the key benefits that haven’t really explored? How can we change our verbiage so that we’re offering solutions from an ARPU (additional revenue per user) perspective?”

DH: What do you see companies doing wrong with regard to marketing in a recession?

Phelan: Good question. I see them throwing things against the wall to see what sticks, and I see them choosing marketing tactics based on cost. A VP might say to marketing, “You should be doing this” and marketing agrees without really thinking about how the tactic fits into the overall business plan or strategy.

DH: What advice do you have for marketing professionals right now?

Phelan: Have objectives and measure and evaluate everything. You have to know where you’re going, and where you’ve been, to see if you’ve moved the needle.

Two, maintain your strategy and don’t get distracted by tactics — especially those that don’t have value. Just because “everyone” is doing something doesn’t mean you have to, too. On the flip side, don’t turn to the least expensive tactic just to save money.

Three: Be consistent. Just because you can get a great deal on a tabletop booth at a tradeshow doesn’t mean you should do it if tradeshows don’t fit into your overall plan.

Paula, thank you for this advice. It’s spot on!