As I’ve listened to the presenters at the Executive Publishing Conference and Expo this week, it occurs to me that in all this talk about the recession and who is navigating the economy well and who is still on the sidelines trying to figure out what to do, that there is a real cost to fear and uncertainty.  And, in addition to real costs of inertia or non-engagement that there are also opportunities lost along the way.

Someone said yesterday, “if the new up is flat, then we’re up.” It’s a bit of black humor that gets to the heart of today’s business climate and that is, if you haven’t lost ground, then you’re doing pretty well. After listening to publishers’ experiences these last two days, it seems to me that even jumping into the fray, investing-scrapping-reinvesting yields more benefits than inertia. The worst outcome for a company is losing relevance to its community while sitting on the sidelines.

Josh Gordon, sales expert and speaker, cited studies that found that both fear and uncertainty light up the “fear” center of the brain. It also lights up when running against the crowd. The way to overcome this fear and uncertainty from a sales perspective is to provide more proof, reassurance or guarantees. Isn’t that what we all are really looking for? Some guarantee that things are going to be fine? That we will all navigate troubled times and find ourselves leaner but stronger at the other end?

Students of business history know that companies that continue to market during economic downturns fare better than companies who don’t.These companies can move into their industry’s lead position during this time. It takes courage and conviction to continue to invest in your business when you can’t predict the outcome.

But the real risk in non-engagement is not losing sales during the span of the recession (although that is certainly a reality), but putting the company’s relationship with its community at risk during a time when the community needs reassurance from its leadership that things will, in fact, be fine. It is that relationship and relevance to the community that is the more extreme loss to a company, because the community has already moved on to some other industry leader that stayed the course and provided some level of assurance by the way they continued to operate that all would be well in the end.

Understanding both your core business strengths and your value to the community you serve is a key element in mitigating the cost of fear and uncertainty to your business.

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With all of the dismal economic news these days, it’s easy to lose sight of the fact that most people are still employed, still focused on delivering the best goods and services, and telling their stories in ways that connect with customers and prospects.

Yes, resources are scarce and people are cautious, but much of the educational publishing market is still focused on creating high-value content and finding the best ways to serve it up to today’s customers. Even though employee rosters have been trimmed of any excess, and in some cases are now understaffed, it is those who who tell their company stories most effectively that will continue to thrive.  Read the rest of this entry »

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More than a year ago, I made the decision NOT to sign up for Twitter. This decision was made strictly from a time management perspective. I often lose myself in email and blog reading and instinctively knew that Twitter would become a major distraction. So, I opted not to join. Actually, I thought it was a passing fad and that if I sat it out long enough, the world would be on to something new.

Many of the folks I admire in social networking fell in love early with Twitter and now have incorporated it into their online presence and business promotion. After months of being told that I should reconsider my Twitter position, I recently joined and became a part of the Twitterverse. Read the rest of this entry »

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Many companies cling to old marketing because they don’t understand that a seismic shift in communication has occurred. As is often the case, some are afraid of new things they don’t understand. The futility of doing things the same way they’ve always been done in a mix of direct mail, advertising, and telemarketing with diminishing results is the focus of this clever video courtesy of HubSpot on Inbound Marketing. Enjoy.  

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Post-election and the financial meltdown continues. Discretionary spending is down. The worst October in forty years. Layoffs are increasing. Everyone is holding tight to personal and corporate checkbooks. What should K-12 publishers and service providers do?

The truth is that educators, schools, and districts are still buying – investing in what they think is most necessary to maximize student learning. However, they are giving purchases more scrutiny. So what should we do to make sure that we get our share of what is being spent?

There is no better time than the present to return to the basics in your marketing, sales and customer service:

• Distill and sharpen your message. It is benefits not features.
• Expect more resistance. You’ll have to prove yourself and your product.
• Increase your service quotient. Think relationships and implementation.
• Roll out the red carpet. Be invitational and diligent. Make it easy to buy.

Those companies who understand how to create customer relationships that go beyond transactions will still be successful in this market. The essential value proposition has not changed, although there is a higher expectation of value when fewer dollars are on the table. Respect that.

Finally, treat your customers as partners. If you are not sure what they are now looking for, ask them. It’s never been easier to survey them at minimal cost.

4 Guiding Principles for Navigating Uncertain Times

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