Big vs. Small: Fighting the Fear Factor

We all know it's a tough environment. 

Free floating uncertainty creates fear which is contagious and leads to full blown paralysis.

Additionally, some of my colleagues (especially in the real estate industry) say they've seen their prospects gravitating toward big brand name companies. Smaller companies may find this puzzling since corporations are cited in news stories daily as the cause of our economic turmoil.

This is an issue a small business can use to its advantage.

How do we break this cycle?

• Turn off the news. 

• Take action. Action gives you control over your destiny.

• Provide the confidence factor. You're good so feel good. People buy from those they know, like and trust.

• Show what you know. Demonstrate your ability. Where can you point to results?

• Give truly personal, excellent service. People care that you care. 

• Show them the WIIFM. What's in it for me?

• Add value. Give something extra whenever you can. 

• Make your offer irresistible. If it's well priced and promises to give me what I need, I'm more likely to buy.

• Sell what your clients want not what you believe they need. Read this again.

• Finally, most of us give up too soon. As my mentor says, the gold is in the follow up.

Let Them Eat Cake

I often watch CNBC in hopes of a glimmer of stock market insight. Shows with names like "Squawk on the Street". Today on "Power Lunch" I got insight on ... cupcakes.  

Yes, cupcakes.

It seems as the economy erodes, a home baking boom is having growth spurts. People are forgetting their troubles with sweet treats that don't impact their pocketbook. 

Speaking of mergers, several trends converge here: not just pinching pennies but the entertaining and stay-at-home trends and the kids learning to cook trend. Our health concerns: if we make it ourselves, we know where it came from. And don't forget the waistline-watching trend: cupcakes are portion-controlled little luxuries. 

The updated kitchen trend allows the at-home-chef (another trend) to watch the celebrity chefs reality show trend. I thought chef meant professional cook? 

Apparently there's a growth spurt of high quality, bake-at-home mixes. Is watching "Leave It To Beaver" next as we don our aprons? 

Seriously, being a trend watcher is fun and profitable. I wonder if Warren Buffett is buying shares of Duncan Hines® next? We're bombarded by trends – online, on television, in our own lives. Which trend can you leverage now in your business?

Is Branding Dead?

My favorite quote from Steven Howard's "Corporate Image Management: A Marketing Discipline for the 21st Century." 

You Are A Brand

I don't know who you are.

I don't know your company.

I don't know what your company stands for.

I don't know your company's customers.

I don't know your company's record.

I don't know your company's reputation.

Now what is it you want to sell me?

I think this is the best argument for building your brand!

Please write a comment and follow me on Twitter!  

Starbucks Promise

Since Starbucks opened I have liked the company: their environments, promotion design, accessibility, coffee and fair practices. They are all about a positive experience and a respite in your hectic day.

Since my last few visits, I'm putting them on notice. Despite poetic signage about daybreak breakfasts, it was not a positive experience. 

The restroom mirror had a splash of gunk plastered on it and looked as though it had been there for a while. Don't their employees ever visit the restroom? I know it gets heavy use but cleanliness in a coffee shop is not a frill – it's basic. 

Branding is a promise, not just about advertising but every small detail of customer service.

I still like the staff service and love that everywhere I go they are never more than a few blocks away. Their brochures are cool and their drinks are hot. Is that enough? 

What's happened to their management? Am I the only one noticing?

The Economy Sucks. My Marketing Sings

I usually don't comment on the economy. I'm not an expert. And when it comes to stocks, I can't help but hear my dad whispering in my ear ... "hold it." That may not be advice that applies on the street today however I'm still holding on. If Warren Buffet's buying, I'm not selling. I hope it pans out.

But onto more immediate matters and those I have expertise in: marketing and branding. 

I'm seeing that companies (both small businesses and our clients) have a huge choice to make. Hunker down and worry – or move forward boldly. Hide – or forge into marketing and brand building as never before. I favor the latter. 

After 9/11, my design firm was hit hard. I restructured and never looked back. It was a good decision. My brand was somewhat known and it held up even when I moved from design to the broader spectrum of marketing, where I felt I could have greater impact.

The classic example of Coca Cola always comes up (not that I'm a soda drinker) but if CC were to lose all its production facilities, it could rebuild. If it lost all brand recognition, it would not survive.

It's ironic that many small companies bet the ranch on tangibles (office furniture, computers) without investing in their brands. They say they can't afford it.  

I'm all for infrastructure. The computers must work efficiently and the office must look good. That's basic. It's actually all part of your brand . . . employee satisfaction, efficiency and the customer experience. Your brand is infrastructure too – how the world views you, how they experience you.

Differentiate or Die

The truth is you can't afford not to invest in marketing. It's a lesson I learned in the many years of working with Fortune 500s. They spend big time on marketing as we know. You can't cross the street without being bombarded by marketing messages. And they get a huge return on investment.

I'm expanding my marketing right now and I know several of my clients will also. As a result, I'm confident we'll weather the storms. We'll be there when the ranks thin out. And when the upturn comes, we'll be in a great position to mine for gold.

I hope you plan to join me. Be visible. It's a great time for marketing!

Tell us how you plan to survive the economic winds of change.

NY Enterprise Report

Some of you may not know Rob Levin's excellent publication "The New York Enterprise Report." It is free to qualified small business owners and provides information, columns, articles and case studies in print and online formats.

I have been a contributor. To see my articles online go to:  

www.nyreport.com

Use the search for ReportLinks

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The first article speaks to how your employees can build your brand and the second to how your employees pose risks and can take your business down.

Polar opposites: it wasn't exactly planned that way but now that I see them together ....

Welcoming your comments.

Calling All Association Executives

I will be speaking on Monday, September 29th at 12 noon at the New York Society of Association Executives (NYSAE). We will be discussing Web 2.0 and how nonprofit organizations can take advantage of the new online tools including social networking. 

For a description and to register, type this link in your browser:

www. nysaenet.org 

Go to events and then to monthly luncheons. 

Hope to see you there!

Anna