Received a great pass along quote this morning I wanted to share. Made me wish I had it when we decided to start our agency in the midst of an ‘economic downturn’ and a few in the industry questioned the move.
“Go ahead. Cut your marketing budget when things get tough. I get it. That’s like saying ‘I’ll throw some logs on that fire when it warms up in here.’ ” – Chris Lockhead
Thanks to uber-publicist Peter Shankman with HARO for passing on the great words to use the next time a client is struggling with cutting marketing and communication dollars during the tough economic times.
My agency partner Robert Deen wrote to this a few weeks ago in a column in the Statesman
You can catch the full piece at the link…but some of his notable points (culled from going through times like these with a new business once before) are good fodder for those brave souls starting up during this time:
There are some good things about a recession. One, talent is available. There will be good people looking for work – lots of them – and that isn’t usually the case. A bold move during a down time can lock in talent that will serve you well for years.
There will be opportunities. During flush times, management tends to stick with big names, the tried and true, the safe, the longtime relationships. Cost is a lower priority. That changes during down times, when suddenly cutting expenses jumps to the top of the list. We were able to get our foot in the door of a lot of businesses because we were willing to compete on price. Years later, when the economy improved, we were the ones with the long-term relationships.
There aren’t many easy opportunities during a recession. You have to fight hard for every client. That’s not all bad, because it is a learning experience and ultimately leaves you with a stronger business. But it is a tough environment for weak players.
-Jess
