The Inevitable Economic Rebound: Are You Ready?

You can feel it... the economy has regained a heartbeat. It may not be ready for an Ironman competition, but at least we can find a pulse. And I am wondering how this will affect all our plans and budgets for the upcoming year.

Before we just submit a modest increase across the board (or even a flat budget)... consider the following...
Rebranding. I suspect a lot of corporate America will react to even a small rebound in our economy by taking a hard look at their brands. Some companies have sustained a real black eye when it comes to image, and not just in the financial services sector. Some brands have suffered from months of neglect. This could mean that many creative shops will be asked to refresh if not completely revamp the brand. This can mean a lot of work, putting a lot of stress on resources, so you might want to reach out to see where your company's thinking is around your brand before committing to a specific budget.

Staff. Morale is an issue almost everywhere right now. As soon as the economy blips, it is likely people will start looking for greener grass. So it might be a very good investment to put a little extra in the budget to help retain staff, especially your top-tier talent. Think about bumping up your budgets for training, mentoring, staff recognition, etc.

Customers. Your customers are probably feeling the effects of corporate belt-tightening. So this is a great time to begin assessing customer satisfaction if you do not already have a mechanism in place. And you may want to invest in more touch points now so that as monies get freer, you optimize your chances of retaining some of that work that was not outsourced during the worst of the recession. Besides low cost, your best selling points are likely to be convenience, legacy knowledge and a mutual interest in the success of your company. So remind your customers of all the value-add you bring to the organization.

For information about how Cella can add value to your business through consulting, coaching, and training, please email [email protected].

Cella Consulting is a management consulting company specializing in optimizing operations at in-house creative organizations. Cella relies on the experience and knowledge of our exceptional team of consultants to create innovative solutions for our clients. Our team has been selected based on a specific expertise and their experience working in agencies and/or in-house creative organizations. Together, our teams offers a full range of functional skills--in strategy, funding models, technology, process, change management, marketing communications, and personnel development--and an remarkable ability to find practical solutions for optimizing operational performance and maximizing ROI.