Weathering the Storm
Lately, it seems like everywhere you turn there's bad news: Rising gas prices, failing banks, low consumer spending, etc. What's an agency to do when it seems like the economy is in upheaval? Despite the poor business sentiment, agencies should maintain their cool so they can successfully navigate these difficult times. Marc Brownstein, Brownstein Group president, addresses the issue with his employees via memo, which was reprinted on AdAge.com. He acknowledges that yes, marketing spending will likely drop and proposals will go unanswered. But, Brownstein says that agencies can make it through the turmoil and come out as "stronger, smarter" agencies. He suggests doing the following:
- Focus more on helping current clients.
- Seek out opportunities to improve the agency internally.
- Actively keep an eye out for new business.
Read Brownstein's full memo here, and make sure to read the comments posted by other readers. Many offer some more great insight, particularly for smaller agencies.