The most recent issue of B2B Magazine has an interesting article on how b-to-b marketers approach spending in a slowing economy. "Do they focus on advertising that plugs the brand or drives sales leads?"
It is no great secret that one of the first places to look for "savings" when crunch-time hits your business is your marketing spend. It is a quick fix that isn't easily noticed in the short-term. If you didn't have a strategic plan to begin with the pull back is even less noticeable.
The theme in the article keys in on strategy and how to seek opportunity in any market condition.
"Branding has got to be the backbone of advertising, especially when you are in a lot of markets," says Paula Blanchat, director of marketing communications at a North Carolina, based law firm. She added, "when the economy tanks is when you have an opportunity to make an impact; and you see the payoff when the economy improves."
If you are reading this blog chances are that you get all of this and it doesn't change the fact that tough choices need to be made during tough times. The most important point of this article is to use market changes as an opportunity to re-evaluate your marketing strategy.
My suggestion: Meet with your management team, engage your salespeople and consider the profile of your best customers. Re-visit how you got to where you are today and envision where it is you want to go. Come up with a plan together and chart a course that distances you from your competition. It all sounds obvious and overly simplistic but I think the tendency in a tight market is to hunker down and protect our territory which is not conducive to creative and aggressive tactics.
Weakness becomes magnified during economic downturns and senior management is on high alert for the wounded sheep in the field. Be proactive, do your homework and present innovative ideas that connect to sales strategy.
Tuesday, February 12, 2008
Friday, February 8, 2008
Apartment Finance Today Conference
We are closing in on the Apartment Finance Today Conference. The dates are April 7-9, 2008 at the Arizona Biltmore in Phoenix.
AFTC is relatively new to the conference scene but offers tremendous value to vendors who are looking to connect with customers and meet new prospects. Here are some of the highlights:
- 3 days of solid programming beginning with the Apartment Industry Leadership Roundtable and concluding with programs on Green Building, CMBS Market and Student Housing.
- The "AFT Forecast for Rental Demand."
- Daily networking opportunities on an intimate exhibit floor that is limited to only 30 booths.
- In 2007 we had more than 300 attendees. A majority of these attendees owned more than 2500 units and on average, each planned to develop more than 371 and acquire more than 500 units in the coming year.
A Sample List of Participating Vendors in 07/08:
PNC ARCS, Assurant Specialty Property, Centerline, GreenPark Financial, Stewart Title, Verizon Enhanced Communities, Wachovia, Arbor Commercial Mortgage, Saflok, Sage Water, Reznick Group, Sperry Van Ness, Nichiha, Empire Construction, Commercial Defeasance, CW Capital, Commercial Insurance, Greystone, PASSCO, Red Capital, First Advantage SafeRent, Pierce Eislen and Aries Capital.
Call us for a list of 2007 attendees.
Thursday, February 7, 2008
Student Housing Application
A recent transaction once again brings the importance of student housing to the forefront. In this deal one of the leaders in leasing systems for student housing, WebRoomz, meets one of the pioneers of multifamily property management systems, RealPage, Inc.
Both of these firms are connected to an extremely active provider/developer of student and military housing, Place Properties, who was profiled in the August 2006 Issue of MFE.
Did Steve pull the trigger on the deal because of my last post? OK, probably not, but I do like what this play offers to customers who are trying to differentiate themselves as a student housing provider, or more importantly an operator who is trying to attract clients in this high-growth market.
We will be watching to see how this application is leveraged against the brand and how the industry responds to this once proprietary web-based system.
Again this is just meant to be another general observation on how vendors in our space are following key trends and serving customers. The transaction is only the beginning but these deals grab our attention and force us to think of the possibilities.
As a sales person I like to think about how I would utilize a new offering like this to serve a customer or re-visit a prospect. As a marketer the story is compelling and would allow for some extremely creative programs. And as a product provider I see the opportunity to build, innovate and integrate. All of this is exciting material to ponder for our own businesses.
Both of these firms are connected to an extremely active provider/developer of student and military housing, Place Properties, who was profiled in the August 2006 Issue of MFE.
Did Steve pull the trigger on the deal because of my last post? OK, probably not, but I do like what this play offers to customers who are trying to differentiate themselves as a student housing provider, or more importantly an operator who is trying to attract clients in this high-growth market.
We will be watching to see how this application is leveraged against the brand and how the industry responds to this once proprietary web-based system.
Again this is just meant to be another general observation on how vendors in our space are following key trends and serving customers. The transaction is only the beginning but these deals grab our attention and force us to think of the possibilities.
As a sales person I like to think about how I would utilize a new offering like this to serve a customer or re-visit a prospect. As a marketer the story is compelling and would allow for some extremely creative programs. And as a product provider I see the opportunity to build, innovate and integrate. All of this is exciting material to ponder for our own businesses.
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