Promote Now to Build Future Business by ProQuest

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After months of denial, the Federal government has finally admitted that we've entered a recession - at least in "parts of the country." While this comes as no surprise to most of us, it does underscore the severity of the problems the U.S. economy is facing.

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									    Editor’s                   I        Commentary
                                                                                                                                                                                                                             By Becky Schultz


     Promote Now to Build Future Business

     A    fter months of denial, the
          Federal government has
     finally admitted that we’ve entered
                                                                                            regions in 2008. This is, in part,
                                                                                            due to the lag effect common to the
                                                                                            industry. Much of the construction
                                                                                                                                                                                        Your company’s ability to stay
                                                                                                                                                                                     ahead of the competition dur-
                                                                                                                                                                                     ing this latest down cycle will
                                                                                                                                                                                                                                                to hunker down and wait out the
                                                                                                                                                                                                                                                storm. You need to actively promote
                                                                                                                                                                                                                                                your company’s services to keep
     a recession — at least in “parts of                                                    put in place this year was awarded                                                       depend largely on your willingness                         it at “top of mind” as clients and
     the country.” While this comes as                                                      back in the latter half of 2007. But                                                     to get out and beat the bushes.                            prospects put together their short
     no surprise to most of us, it does                                                     with the economy’s downward spi-                                                         Maintaining relationships with                             list of potential bidders for future
     underscore the severity of the prob-                                                   ral and the credit freeze still largely                                                  your existing clients, and establish-                      projects.
     lems the U.S. economy is facing.                                                       in place, fewer new projects are                                                         ing relationships with potential                               As a magazine publisher, one of
        On the plus side, the commercial                                                    being put out for bid, and those                                                         new ones, could make or break your                         the things we emphasize to clients
     construction market has actually                                                       that are have significantly more                                                         business in the months ahead.                              in a down market is the importance
     experienced robust activity in many                                                    contenders vying for the work.                                                              As such, now is not the time                            of maintaining visibility to your
                                                                                                                                                                                                                                                customers and prospects. It has
                                                                                                                                                                                                                                                been shown, historically, that those
                                                                                                                                                                                                                                                who promote their products and/
                                                                                                                                                                                                                                                or services throughout a down eco-
                                                                                                                                                                                                                                                nomic cycle tend to come out ahead
                                                                                                                                                                                                                                                once the market rebounds.
                                                                                                                                                                                                                                                    A construction business is not
                                                                                                                                                                                                                                                much different. Customers who
                                                                                                                                                                                                                                                see you actively promoting your
                                                                                                                                                                                                                                                company — particularly when times
                                                                                                                                                                                                                                                are tough — are more inclined to
                                                                                                                                                                                                                                                view it as a strong, successful opera-
                                                                                                                                                                                                                                                tion worth doing business with
                                                                                                                                                                                                                                                in future. You also have a great
                                                                                                                                                                                                                                                opportunity to stand out from the
                                                                                                                                                                                                                                                crowd, since many of your competi-
                                                                                                                                                                                                                                                tors may be unwilling, or unable, to
                                                                                                                                                                                                                                                invest in promotion.
                                                                                                                                                                                                                                                    Although there are a variety of
                                                                                                                                                                                                                                                potential advertising opportunities,
                                                                                                                                                                                                                                                your marketing efforts need not
                                                                                                                                                                                                                                                be limited to paid advertisements.
                                                                        
								
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