Personal tools
Document Actions
Home / Resources / Webinars / Winning in a Down Economy
Document Actions

Winning in a Down Economy

Presented by Phil Myers, President of Pragmatic Marketing

We live in interesting times. The rapid changes that thrust Wall Street into a tailspin this year have created a business environment far different from anything we've seen in the past. The panic on Wall Street rippled quickly from the investment community into executive suites and down the line to each and every employee. Everyone is talking about how to react. What are the impacts to our nation? Our economy? Our business? Us?   

There are great opportunities for you and your business ahead. They are just different than you envisioned them three months ago. The questions we need to be asking ourselves today are “Are we ready for 2009?” and “How can we win in a down economy?” Answers are flying at us from all directions but seem to focus only on the financials. However, blindly cutting costs isn’t going to improve your market position.

This webinar hits the issues of ‘Winning in a Down Economy’ head on by discussing culture, process and the ten-step action plan to get out in front and healthy heading in to 2009. These strategies are not opinions, they’re based on research Pragmatic Marketing conducted and refreshed in the last 90 days to give you some specific proof points to help your organization navigate the rough waters ahead. Don’t launch your 2009 attack plan without it.


Watch "Winning in a Down Economy"





About the Presenter


Phil MyersPhil Myers is the co author of the book Tuned In: Uncover the Extraordinary Opportunities That Lead to Business Breakthroughs.  He is a writer, speaker and consultant on the subject of tuned in leadership strategies. His experience includes leading three startups that grew into market leaders, managing two successful initial public offerings and launching seven products that became category leaders.



 

Focusing your business roadmap

Posted by John Davey at 2008-12-12 08:01 PM
If there's a question in my mind it's about focusing your business roadmap when the economy is forcing us to desperately explore new avenues - but perhaps this is just another way of looking for the bright light?

Focusing on Roadmaps

Posted by Phil Myers at 2008-12-19 01:10 PM
Part of the reason to focus on your roadmap is that the organization needs a filter at all times and particularly in a down market. The problem we see that many companies have right now is that their roadmap was built to support growth and aligned to problem priorities from last year, not right now. This can cause companies to thrash big time as they invest their precious few resources in projects that don't really matter.

By re-aligning your roadmap, you've adjusted both your strategy and your decision filter to the realities of today. An additional benefit is that you've given your employees a vision for a near-term outcome they can rally around.

Phil

Marketing communications issues

Posted by Denise Chapman at 2008-12-12 08:01 PM
Are there any specific issues or particular areas of interest you would like to discuss?: I would like to know what services you provide from a marketing communications standpoint.

Marketing Communications Services

Posted by Phil Myers at 2008-12-19 01:12 PM
Checkout some of the offerings at our site www.pragmaticmarketing.com The training for product marketing and implementing the 'new rules' of marketing would be particularly appropriate for you. One aspect we've found is that leveraging social media can be a key accelerator and provide great ROI during this market. Our classes and services can help your organization align to these principles.

Selling services verse products

Posted by Cathy Simpson at 2008-12-12 08:01 PM
Any different rules to what you discussed today if you are a technology consulting company? Selling services versus products?

Services vs. Products

Posted by Phil Myers at 2008-12-19 01:14 PM
We found very few differences that matter between product companies and service companies when it comes to applying these principles. Service companies tend to be better at 'experience creation' than product companies and understand inherently the value of leveraging their people's time. But, ALL businesses need these six steps.

Best practices

Posted by Sylvie Tache at 2008-12-12 08:01 PM
What is the best approach to bring on board the executives (who are product oriented + engineers...oh la la)so they can get the 6 steps approaches and start discover reality of their clients/prospects pains and understand them and not be ego centered and pretend they know the market. They are trying to release their new product and the release date has been pushed for 2 years now (and I am not exagerating) and from what I have seen with the market (few analysis)their new product is still behing its competitors...What can I do so they don't hit the wall?

Board Alignment

Posted by Phil Myers at 2008-12-19 02:59 PM
The best way to bring the executive team and board together on this conversation is adopt the persona of 'Pragmatic Pam'. She is factual about her approach and gathers data that matters. She utlizes outside resources to help her assess performance and strategic relevance. And she deals within the constraints of her companies ability to execute. A 'situation-based' executive briefing is a service we offer that can help you here. Oftentimes, having someone like Pragmatic Marketing take a look at how well you are aligned and provide candid feedback is your best weapon to curing a blind spot in your company.

Offering services in a downturn economy

Posted by Amanda Porter at 2008-12-12 08:01 PM
What's an effective way for a small start up internet marketing firm/ online shopping mall to successfully offer their services in a downturn economy?

Internet Marketing Services

Posted by Phil Myers at 2008-12-19 02:59 PM
Your best weapon is to embrace the 'new rules of marketing' both as a service and as a way for you to reach customers. What you publish and promote as your unique value through all the various search vehicles will do more to drive your business than any other investment you could make.

Ideas vs Dollars

Posted by Jim Pfister at 2008-12-12 08:01 PM
I have found i can sell my ideas if i can explain them in "dollars", cause everybody understands dollars. you don't seem to have emphasized that. Have I missed something?

Justification in Dollars

Posted by Phil Myers at 2008-12-19 02:59 PM
Didn't mean to de-emphasize it, only to balance it. One fact I should have stated at the outset I guess is that following these principles has enabled companies to grow 2x their competitors, generated 31% higher profits and 20% higher customer satisfaction rates. Those are the metrics that matter. Getting down a level to justification of projects and activities, the balance leaders are looking for is strategic relevance vs. execution capacity vs. business impact. The business impact is the 'quantification area' we spoke about and is a given in these processes. The problem many of us run into though is starting there and working backwards ... kind of like starting with cost cutting and then developing a strategy. It doesn't work real well that direction.

Global Product in this Economy

Posted by Christine Kovacs at 2008-12-12 08:01 PM
How to market an amazing VOIP SkypeLike global product in this economy?

Amazing new product

Posted by Phil Myers at 2008-12-19 02:59 PM
Launching a new product in a down market means you'll likely have less noise from the competition which is good. But, be careful to put it into today's language, not the language of your developers. No matter original designs you had for 'changing the game', focus on the benefits that down economy buyers will care about. That is, how can they do something that has a measurable impact on their businesses in the next 12 months once they buy your new product?

Build a new product because we can or we should

Posted by Marty Levesque at 2008-12-12 08:01 PM
How does one balance an ability to build a new product because we can with whether or not we should, especially in a downturn economy?

Building new products because we can

Posted by Phil Myers at 2008-12-19 02:59 PM
By far the biggest challenge we see is companies making investment decisions from the inside-out vs. the outside-in. The Tuned In framework was built to provide you and your organization with an easy filter (and protection aid) for making these kinds of decisions. In effect, it is your 'acid test' to any new product idea to find out if it 'resonates'. Go through the questioning as early in the development cycle as possible to get a real world assessment of value. If there is none, be honest about it. These kinds of decisions should not have any of the emotion of what folks internally think or want to work on ... they should be based on real-world market feedback. Better now than after you've spent large amounts of $$$ to build, launch, market, sell and then re-launch a bad idea.

Unknowingly Finding Success

Posted by Paul Oliu at 2008-12-12 08:01 PM
Hi Phil - Is there one of those things that marketers do that unknowingly torpedoes their success?

Torpedo your own success?

Posted by Phil Myers at 2008-12-19 02:59 PM
Ignoring your distinctive competence is probably the biggest failure point for marketers. We want to go where the action is and be able to speak about the 'new' things that are popular (like Web 2.0 or 3.0 or ...). Or we allow our companies to build things that line up to what our selling teams say are hot. Both of these take the business away from what it does best and create a mis-alignment internally and with the market. The pragmatic leader always tries to keep these things in balance ... what problems are most important, how people buy from us, what we do best, how easily we can create a unique experience that customers value and how effectively can the business drive profits from this new investment. Stay focused there and you'll be in alignment.