Bollocks to the recession is what I say.
Like Dame Stephanie Shirley, the entrepreneur and philanthropist, I’ve dusted down my fur coat, am working harder than ever, but remain upbeat and optimistic.
Some sectors are really struggling. Sales have dropped, costs are under scrutiny and people are losing their jobs. It’s really tough and the media doesn’t inspire any level of confidence.
The reported response of the business community is polarised between denial and despair. Those in denial have failed to recognise that we all need to work harder to stay in the same place. Those that despair have yet to see the opportunity that arises from the disruption of a recession.
Whatever your standpoint its time to get back to basics: stick tight to your clients and help them through the challenges that they face. And then find some new ones. Get out of your office and spend time meeting people. Social networks are good way of making introductions, but are no substitute for meeting people face-to-face.
Porter Novelli’s digital head Mat Morrision said in his recent profile in PR Week that there should be almost no distinction between your personal life and professional life. He’s spot on. I ring fence weekends for family time but otherwise my personal time ends on a Monday morning and doesn’t start again until Friday night. But that’s no different to a lot of my colleagues in the PR and marketing industries.
An optimistic outlook is essential. My glass is always half full. It is a time of opportunity if you look in the right places – and no more so than in the PR industry.
I keep banging on that PR consultancies have the skills and the tools to lead clients into the new area of marketing called social media. Those that do are reaping the benefit.
Beyond that the role of PR as a cost effective marketing tactic makes it a strong proposition for consultancies that can demonstrate value.
Here are three recession busting anecdotes from people I’ve spent time with during the last week.
I caught up with Branded, Loewy’s team of brand communication and marketing strategists for breakfast this morning. It’s telling its clients to scrutinise their marketing spend and focus on the most cost effective channels to reach their audience. That’s good news for PR.
Rebecca Caroe came up with three counter recessionary business ideas for the creative industries in 30 minutes when we met last week. New business models and opportunities are emerging just as fast as old ones are withering.
Finally, I met one of my long term business mentor for lunch last week. His view was that irrespective of the financial packages that have been put in place by world governments and whatever emerges from the G20, it will be the US that leads the world out of the recession. The reason? The fundamental optimism that is built into the American psyche.
I’ll have a bit of that please.
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