10 Ideas for Weathering Recessionary Times – Part 2 of 2
This second post continues a look at how experienced media professionals are dealing with the downturn in the economy. Everyone acknowledges it tough out there today. Clients have seen their budgets cut and have less money to spend. Just keeping the doors open is a challenge, let alone doing great work.
Thanks to the many media professionals who offered their ideas for this list of 10 Ideas for Weathering Recessionary Times.
6. Production Choices: Several people I spoke with commented that despite the downturn in the economy, cutting back on innovation and creativity is never an answer. In fact, it may be more important now than when clients have more to spend. A project I recently developed for SAS was planned as a live, in-studio webcast. Scheduling problems and the skyrocketing cost of international travel, forced a look at other alternatives. Since the key messages were well supported with PowerPoint charts, it was agreed that rather than a video webcast, an audio seminar would work equally well. The client was pleased with the program, as well as the smaller hurt I put on their budget.
7. Alternate Distribution Channels: The past several years has seen the unrestrained growth of many new distribution channels. Broadcast television commercials will remain a mainstay for many producers, but in some cases there are alternatives. Dan Schwartz of Philadelphia’s Center City Film and Video has found this tactic effective for some clients. “We have used viral distribution of advertisements on YouTube, marketing through Face Book and other social media platforms, when the target viewership required it. This is a huge cost saving over TV media buying. Of course, more traditional marketing outlets always have to be considered as well.” Use of alternate distribution channels requires a different kind of communication’s campaign and possibly a different creative approach.
8. Virtual Office: Next time you need to shoot in Russia, or need something shot for you in Moscow, check in with my friend Fyodor Mozgovoy. Working across distance is something Fyodor does all the time and knows a lot about. “I cannot imagine doing business without Google, Skype, and iChat nowadays. Google services offer me a virtual office with multi-access calendars, ability to collaborate on planning, and share all important documents at a click. This saves me and my employees lots of time, and money for travel expenses. Skype is a great money saver, and iChat is amazing in its ability to share your screen on-line while keeping the voice connection, making online presentations easy and very impressive.” What can I say; the man knows how to squeeze a Ruble.
9. Production Sharing: Reduced budgets mean more than doing more with less. Sometimes sharing production responsibility can help reduce costs. Projects that are developed as part of a coordinated marketing campaign can use elements between projects and reduce overall cost. For example, photos used in a brochure can be incorporated into a video project, reducing production costs. “Resource sharing with clients and their other production agencies can help lower costs” said Jim Fink of New Century Digital Media in Chapel Hill. “Some clients have in-house production resources for creating graphics and web content. Using some of what they have already developed can help hold down expenses.” Such assets don’t always fit easily into the production process, but with some creative design, they can reduce costs and improve the bottom line.
10. Communicate-Communicate-Communicate: “Keep your client in the loop – (over)communicate – updating them often on the status of the project, milestones, and action items.” Great advise from Melanie Raskin, writer, actress, and voice over artist. “Prove your value every time. Not only strive to be the fun, engaging, creative, easy, can-do pro to work with – but also measure what you’ve done – put dollars and cents to those efforts. Send surveys to customers asking how your work/video/webcast/communication helped move the needle for the audience/users…and the company. This can be as simple as just a few questions to your clients or as complex as a survey clients can distribute to their audience (complimentary, of course!). In a challenging economy, clients are asked to make tough choices; make it easy for them to choose you and your services.” What more can I say, Melanie is the consummate professional.
There were many other ideas that came from talking with a great group of communication pros. Please comment on the two parts of this post and offer any suggestions of your own to share with the online community.
Networking was something that came up quite often. A number of people expressed ideas similar to what Melanie Raskin summarized so well, find ways to stay in touch with clients even if a current project is not underway. Maybe ask them for ideas about a blog posting. 😉