Marketing -- Defense or Offense?

Today I heard the 11th or 12th person this summer tell me they see signs of a potential softening of the professional services economy.  If you're a leader in a professional service firm, you're accountable for helping your firm prepare for weakening demand.  And mostly, these leaders tell me they are not prepared and simply aren't sure how to become prepared.   

Just today, I read the following post from Services Safari: "there's speculation that CA (Computer Associates) will put its professional service employees on 1099 status."   Another services firm leader is actively exploring offshoring as a potential solution.  Well, I guess those are a few ways to deal with variable or weakening demand! 

But seriously, this situation offers us a marvelous opportunity to ask the question: how involved is Marketing in "defense?"  Professional service firms ask their marketers to go, go, go -- always promoting, always on the offense.  They give short shrift to improving their balance of stoking demand with more appropriate strategies for when demand gears down.   

I think this is an extremely important topic -- I would love to hear from those of you who have intentionally planned for your firm's marketing strategies in a down-turned economy. 

Or (gulp) does your firm simply lay off its marketing staff!?   

Comments

[Barbara Price]

Hi Suzanne,

Re my comments about a PSF CMO's having "only real job," I never said it was easy. In fact, it's quite difficult and, as you rightly comment, strategic. What has served me and Mercer Capital quite well is remembering that, at the end of the day (or quarter or year), if the phone isn't ringing with the right prospects and/or existing clients, then all the other stuff is window dressing. I know that sounds too simplistic, and it is, but I believe it to be true.

Keep up the great work. I love your blog.

[Suzanne Lowe]

Hi Barbara: Thanks for an insighful comment. I'm not sure I agree that the PSF CMO has "only one job," (sounds simple but you and I know it's more strategic than that).

Congratulations on Mercer Capital's savvy response to a market downturn: "We responded to that crisis and have, since then, prepared for future market downturns by constantly pursuing new service lines and new markets." Kudos!

[Barbara Price]

Suzanne,

Great post. My firm, Mercer Capital, doesn't lay off staff during a down turn. In fact, the marketing department becomes even more important. We had such a situation in 2001 when our estate tax business was kicked out from under us. Now, we were essentially caught flat-footed. Almost 15 years of a very productive service line creates a sense of complacency which is deadly. We responded to that crisis and have, since then, prepared for future market downturns by constantly pursuing new service lines and new markets. Is that offense or defense? Yes. But in my opinion, it's all quite simple really. A PSF CMO has one real job: to make the phone ring with the right prospects. That means today and next year and the year after that. The best insurance CMOs have is to keep that focus and lead proactively.

-- Barbara Price