“Financial Strategists provided our business owners with valuable information about how to secure capital for their firms; I would highly recommend that business organizations take advantage of Greg’s expertise.”

Industrial Council of Near West Chicago

“As the chief financial officer of a multi-million dollar company, I urge you to take one of the business educational seminars that Financial Strategists offers. The information was highly valuable.”

A. Bowen, Austin Diversified Products

“As a growing and emerging firm, we found the seminar of business financial
management both practical and purposeful. I contend that most small business owners
will benefit from this information.”

J. Nicholson, Botanicals

“Greg Washington has made several presentations to our entrepreneurs over a three year period here at the Purdue Entrepreneurship Center; our members have found his presentations to be enlightening, informative and highly useful in their business operations.”

J. Hussain, Executive Director Purdue EC “Greg has helped our clients secure capital when others could not”

Rick Rosen, CPA

“Greg showed a high degree of perseverance when dealing with our clients”

"Greg helped our firm secure financing when few others could, he was competent, persistent and very thorough"
Phil Beckham III, President Beckham Transit

"He was very good at finding out what worked and what did not, as a result we were able to finance our growth into a multi-million business within three years"
Tom Malone, Freight Direction

"Greg has counseled several of my firms clients and we have always been pleased with the results"
Agnes Brassfield, CPA Northbrook, IL

"Over the years I've known him, Greg has come through for several of our commercial banking clients when we could not assist them, he found ways to make the deal work or give them sound financial advice"

Tony Denovellis, VP Small Business Banking
First Midwest Bank, Tinley Park, IL

Marketing in a Recession Gives You the Edge
Posted by Administrator (gmoney) on May 18 2009
Thoughts >>

In a recession, consumers are re-evaluating how they spend their money. Business owners are seeing sales drop or completely wither away. Your first inclination may be to cut your marketing budget; but don’t succumb to this temptation. A Profit Impact of Marketing Strategies Analysis (March 2008) found companies that cut marketing lost market share after a recession. Companies that spent more gained market share.

Successful marketing during economic downturns builds your brand and a strong brand drives sales. A strong brand is everything; Take a page from the big boys; premium brands like Green Giant, Quaker Oats, etc., are increasing spending to convince consumers that their offerings are superior. It works! As long as it’s within an acceptable price range, buyers will continue to purchase a trusted brand when they are reminded of why it’s worth the price.
What should the savvy business owner do?

Step 1: Clarify your target market. Who buys your products? Which customers bring you the biggest profit?

Step 2: Determine how best to connect with that target. Broad exposure spreads your message across a large audience. Typical media outlets include newspaper, trade publications and broadcast. Reach out to a precise demographic in a very precise geographic territory using direct mail. Consider using a wire service to distribute your well-written press release to regional media and trade publications. Register with Yelp, Facebook, MeetUp and LinkedIn social and business networking Websites.

Step 3: Be passionate, unique and creative. If you love your product, express that in your message! When you demonstrate through passion and creativity that your product is better than your competitors, you can command a higher price – even in a recession.

Step 4: One may as well be none. Potential customers need to see your message 7-10 times before they become real customers Your message will have more impact during a recession, because there is less “noise.”

Step 5: Only 10% of consumers are driven exclusively by price. Discounting your products leads your competitor to do the same, and in the end, you will lose market share permanently.

Step 6: Recognize and embrace opportunities in this recession.
Listen to your customers. Change your message to reflect your understanding of their needs. Clarify your business purpose. Ask yourself, “Does this help me sell?”

Take these steps now to recession-proof your business.

Rebecca Palumbo is Principal/Creative Director of Rollins Palumbo Creative and is available to speak to your group about marketing and branding. 708-614-9766 or www.rollinspalumbo.com.

Last changed: May 18 2009 at 2:52 PM