50 countries<\/a>, have faced everything from devastating recessions to raging inflation. In the international network\u2019s 58 years of existence, they have not only survived but thrived by focusing on what\u2019s important. Advises ICOM President Rino Ferrari, also president Rino Publicidade\/ICOM, S\u00e3o Paulo, \u201cAlways have a Plan B, one for recession and one for growth.\u201d<\/p>\nYou could also call it disaster preparedness on an international scale. Here are seven proven survival tactics from Rollinsville, Colo.(USA)-based ICOM that work regardless of an agency\u2019s country of origin.<\/p>\n
Tactic No. 1: Stay close to existing clients. Understand their needs and attitudes and help them achieve their objectives with fresh and existing solutions to their communications challenges. Mariana Iesulauro, general account director, Di\u00e1logo Publicidad\/ICOM, Buenos Aires, notes that it\u2019s important to review each account to determine how a downturn may affect the client and make recommendations accordingly.
\nTactic No. 2: Step up your new business activities. This is the one area where you cannot afford to cut back. But you can be smarter with a more focused strategy. You may want to focus on new business from existing clients, on activities that generate higher margins, on big accounts cutting budgets handled by large agencies that may not want smaller accounts, on businesses not hurt by a downturn or on specific industries where you offer special expertise. Uffe Just, CEO, Just\/Kidde\/ICOM, Copenhagen, notes, \u201cIn a downturn, consumers still buy goods and services, just not as much or differently than in better economic times.\u201d
\nTactic No. 3: Expand your agency\u2019s capabilities to offer a full range of integrated marketing communications services, including traditional print and broadcast advertising, digital and online, promotion, direct marketing, public relations, special events. This can help gain additional business from current clients as well as increase opportunities for new ones. SaysMeltem G\u00fcrler, co-president & partner, Fikir Merkezi, Istanbul\/ICOM, \u201cDuring one economic crisis, we started our PR company to get more business from existing clients.\u201d
\nTactic No. 4: Offer value and be able to explain that value to each client. The value can be fresher ideas, non-traditional, less expensive communications solutions and simply back-to-basic advice that ongoing promotion of a brand is important. If your client sells value brands, encourage more promotional activity since consumers will be looking for value alternatives; if the client markets luxury brands, come up with some promotional, yet classy, activities that will spur sales without harming an upscale image. Says Johnny Mun, CEO, Krakatua Sdn Bhd\/ICOM, Kuala Lumpur, \u201cThis is especially important when the cost of traditional media is high compared to the cost of other activities.\u201d
\nTactic No. 5: Staff for the lows, not the highs. Keep a list of accomplished freelancers, and use them when needed. If you\u2019ve pared your staff to the bare bones and don\u2019t want to cut any more, use any short-term down time for training.
\nTactic No. 6: Devote sufficient time to yearly planning; be vigilant about monitoring your P&L, and respond immediately. After eliminating all frills in the budget, make sure everyone understands the importance of keeping costs under control. Advises Susan Meany, president, SKM Group\/ICOM, Buffalo, N.Y., \u201cIf the forecast looks weak, act quickly to make any needed cuts in expenses.\u201d
\nTactic No. 7: Don\u2019t lose sight of what made your agency successful in the first place, and stick with the basics. \u201cWe focus on being better than our direct competitors,\u201d says Mike Diccicco, president, Diccicco Battista Communications, Horsham, Pa., while Satoshi Akata, planner, ADEX Nihon Keizai Advertising\/ICOM, Tokyo, says, \u201cBe unique and different from other agencies.\u201d<\/p>\n
Principals from ICOM agencies around the world are available for further comment. For a list of agencies offering advice, click here<\/a>.<\/p>\nAbout ICOM: ICOM, a leading network of independent advertising and marketing communications agencies, represents US$2.0 billion in revenues annually with agencies in more than 50 countries. ICOM offers a full range of integrated marketing and media communications services and is an alternative to the huge and increasingly similar agency groups.<\/p>\n
Contacts:<\/p>\n
Nancy Giges<\/p>\n
nancy@icomagencies.com<\/p>\n
1-914-683-5108<\/p>\n
Gary Burandt<\/p>\n
burandt@icomagencies.com<\/p>\n
1-720-261-4829<\/p>\n","protected":false},"featured_media":0,"template":"","news_category":[18],"class_list":["post-3349","news","type-news","status-publish","hentry","news_category-press"],"acf":[],"yoast_head":"\n
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