Biz Development: Ongoing PR Defines Future P&L
July 29, 2009 by Mary Ellen
“I did some analysis in May and realized we’d lost 67% of our 2008 business, most of that due to a company sale and a bankruptcy.
We’ve picked up several newer clients, smaller, all, than those two huge ones, but then losing anyone of them wouldn’t have the same impact either. We started a number of business development things a year or so ago that are beginning to pay off.”
True story. It might describe your company or that of someone you know.
Instinctively, as service company owners, we know NOT to put business development on hold. In a small firm, it’s particularly hard to juggle day-to-day urgencies with important long-term priorities.
Public Relations is one of those important, long-term items. There’s no time to toot your own horn when you’re busy clearing a path, right?
In a recent article for entrepreneurs, I shared five ways in which “Public Relations Puts Your Business on the Map For Free.”
- Online media room
- Local journalists
- Publications and trade magazines
- Radio
- Television
Your online media room, item number one in my list, supplements business development efforts. It’s a place to showcase current publicity and frame projects for the organization.
None of this happens by accident. If you’re contemplating maintaining an online media room, I recommend planning a quarterly theme and adding one article per month. For a textbook publisher, the third quarter calendar looks like this:
Quarterly Theme: College Prep
Month: Topic. Tactic for reader follow up.
Jul 09: National science education standards and how our company products meet them – overview of standards. Link to pdf document outlining specifics.
Aug 09: SAT test prep and how we can help. Feature about training for SAT. Link to regional schedule of test
Sept 09: Science fairs and products we offer to help you win. Outline of specific products. Link to blog post with stories highlighting different fair wins.
In addition, the online media room lets you link to published articles and mentions on the Internet. Knowing that you are what you publish, start planning your calendar today.
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Another problem I see with many small firms is the “sit by the phone and hope” syndrome. You’ve got to get out there, make phone calls, follow up, SHOW up.
And, it’s inexcusable to not know exactly where you are financially (and with your customers) at any given moment. You don’t need a lot of software or even paid help to track your biz. Make a list; check it thrice; keep it going.
You’re right – Making the calls and SHOWing up is half the battle. Making the calls even if you’re satisfied with current billings and clientele – well, that’s the key.