Don't Stop Thinking About Tomorrow

The economy is bad. Time to trim the fat. The first thing to go - promotional expense. Second thing to go - training. In a struggling economy, those are the worst decisions that can be made. If you slash the promotional and training budget today, the pain is not immediate. You won’t notice any impact for 6 weeks, and no huge changes for 3 months. Sooner or later, however, you will lose - to the competitor that kept his cool and kept on promoting. You see, while your community no longer exists to the consumer, theirs does. Your competitor is taking steps to maintain and increase market share and ensure a strong capture rate. In the process, you’ll be smoked.

When times get tough, your job is to promote more, not less, and make sure your team is the best the industry offers. Keep bringing people through the door and then ensure the deal is closed. In a faltering economy, there are always businesses that seem to defy the odds. Those companies get creative and stay visible.

Now is the time to:
• Evaluate your promotional sources to determine what is working and what isn’t. Take the money from what isn’t and put it into what is.
• Evaluate your team. Make some tough decisions. You want the best, the brightest and consistent performers. Once you have your “A” team, Invest money to train them. Spend time with them. Make sure that your promotional efforts result in either new or renewed residents.
• Hold weekly marketing meetings with your team. Where can you be better? Where can you have greater impact on the client experience?
• Stay the course and don’t panic. Even if you have no money, make sure you are visible. Take your brightest talent and teach them how to conduct effective outreach. Make sure they feel comfortable and will deliver a positive, professional representation of your company and the community.

Keep your momentum going. Don’t stop thinking about tomorrow with a “Chicken Little” reaction today.
Lori Snider