At a recent conference in Seoul, Richard Branson said, “There are enormous opportunities when there is a crisis. In a situation like this, it’s absolutely essential to conserve cash. I think companies that do have cash owe it to their country and the people in the company to actually invest that cash in order to grow out of the crisis.”
Obviously our entrepreneurial solutions of the past 8 years got us to this point, so why wouldn’t the same tricks turn things around? The cowardly response is to cut: cut staff, cut training, cut marketing or anything else that would allow only the bare bones of an operation to continue.
The creative mind looks for opportunity.
Internet marketing offers a creative way to thrive in a crisis:
Invest in your website’s content management system (CMS): By creating a CMS you take control of your content. No delay at the marketing department, the designer, the printer or publisher. You say what you need to say immediately. The cost? Only your time.
Online video has become the tool of the masses. Created with any variety of technology—a cell phone, a pocket camera or, if you like, a high definition camcorder with studio lights— and edited on the fly. Continue the brand conversation with your audience in the social web-o-sphere – on your website, YouTube, Facebook, Google Video. The opportunities are endless.
If you're worried about rivals poaching your clientele, you have an advantage: you already know your customer. Continue the conversation online through e-marketing. You control this distribution channel and the cost is minimal.
Still asking ‘why?’ Maybe you should try asking ‘Why not?’
In tough economic times, you’ll see some of your competition disappear. That’s only natural: in Branson’s words, the best always survive in a crisis. It is time to find the ‘E’ in creative, and outlast them all.