GDMI Corporate Blog

After a handful of months focusing on micro blogging, it has become evident that there remains much to be discussed beyond 140 character limitations which answers the question ‘What are you doing?’

A client recently reminded me that there are in fact still around 91 – 92% of Americans employed. He shared that he felt that as citizens we’ve become obsessed with the unemployment rate (and rightfully so) but that as marketers and business owners there remains a large majority of the population which although may be pulling in the reigns, are still out there shopping and buying.

With a tumultuous start to the year which followed a strained holiday retail season, here we now sit 90+ days into the new year with the common thread of uncertainty which remains. ‘Stimulus’, ‘bailout’ and ‘recovery’ are the new advertising buzzwords, already becoming overused and tired.

And while some have begun to profess that the bottom is near, we may be finding solace in believing ‘flat is the new up’, ‘long term planning is 90 days’ and frugality is now en vogue. Even businesses which would otherwise reward employees with earned bonuses and trips are opting for less visible means of compensation to avoid public scrutiny.

Panic nor paralysis are business strategies, I recently posted on Twitter. And while space didn’t allow for an explanation; businesses and consumers alike will be better served with an eye to the future inasmuch as the eye on the hand in front of them. Short-term decision making is undeniably critical in these times – for some it means ultimate survival. And shoring up resources, prioritizing necessities and re evaluating investments (both financial and strategic) all provide opportunity to take control of that which is controllable while planning for what may lie ahead.

With a more than 80% loss in profitability, a new client has begun to recognize how vital online brand protection and building is now to their business. Once relying solely on client referrals yet another new client is now beginning to give her success story its due with a soon to be blog launch.  E-commerce marketers in acknowledgement of customer retention and relationship building are exploring longer term strategies for reaching and communicating with their customer base, now and in the future. Amidst a seemingly perpetual flow of negative economic news, these businesses have all stopped, taken stock and charted a new course towards the future.

The first quarter of 2009 has already become one for the history books, to be analyzed for years to come. At the risk of the ethereal, perhaps at the center of this storm is a calm of reflection: of a company’s mission, its identity, its relationships and where it is headed when the storm subsides.

We have all been inundated with the news of the on-going financial crisis affecting the United States and the rest of the world. The names of the blue chip firms who no longer exist as they once were include Morgan Stanley, Lehman Brothers, Bear Sterns, Washington Mutual, Wachovia, AIG, Freddie Mac, Fannie Mae, to name a few. Over a trillion dollars of equity value was lost yesterday during the biggest one day point drop in the Dow Jones Industrial Average.

Small businesses in fear of losing their credit lines? You bet. Homeowners in fear of losing their homes? You bet. Employees in fear of losing their jobs? You bet. The list goes on and on. With this “fear” creeping though out the economy does that mean that consumer and business spending is going to come to a screeching halt? No. A slowdown yes but a radical halt no. Consumers and businesses will continue to tighten their belts but both segments of the market place will continue to purchase the essential goods and services to maintain their households and businesses.

It is more important now than ever before to be found on the Internet when consumers and businesses are searching for a product or service. Pricing, service, free delivery, guarantees, etc. will be key selling points in an ever tougher market. The Internet, through paid search campaigns, organic optimization of your website, social media marketing and other tactics remains a low cost means of generating sales traffic when consumers and businesses are ready to buy.

Don’t become the next victim of the financial crisis affecting the marketplace. Use the Internet to market your business to those consumers and businesses that are ready, willing and able to spend their dollars during these fearful economic times.