Thriving business in a recession

It’s a tough time for UK businesses and with few signs of recovery many firms will be struggling to stay optimistic. But, according to Simon Fryer, Managing Director at KISS Communications, businesses can thrive in a recession but it does need a change of tack and perhaps a more strategic approach. “There is a significant transfer of wealth and business happening now, and if companies are looking to build a thriving and successful business in a recession, or simply ensure they weather the downturn, there are a few things that can be done,” explains Simon. “First of all, everything is going online. If your business or organisation does not have a professional presence online then you don’t have a business. We have had a lot of companies coming to us in the last twelve months that had web sites that just didn’t do justice to their business. We recently launched a new visually-strong site for mechanical and electrical engineering company, Couch Perry & Wilkes with the key objective of highlighting its creative and often market-leading approach to architects and specifiers." Simon continued, “The social media landscape brings a great deal of opportunities to business owners looking to expand their reach. LinkedIn, for example, provides the perfect vehicle to network, communicate and generate new business opportunities. Syncing your company Twitter with LinkedIn is also a good way of letting your network know when you’ve been awarded a new contract, have a new product or service or won a new award. Check out KISStalk on Twitter. “Finally, ensuring your business model adapts with the times is also crucial. Although it seems obvious we see many companies that invest money on marketing in an attempt to ride the recession without first ensuring the business model is still viable in the current economic climate. “In these uncertain times, even if things are looking more positive, many companies still need to stress test their business, identify where things are not working, revisit and if necessary be prepared to reinvent the business model. Otherwise any investment in PR and marketing will be ineffective.” “Changing a business model that has worked successfully in the past is tough,” says Simon, “but unless organisations face up to the fact that although it may have worked in times of economic growth the model is unlikely to work during a period of negative growth.” Simon concluded, “KISS Communications’ philosophy of ‘Keeping it Simple!’ is resonating well in these tough economic times; businesses value simplicity. To us, bringing a brand to life is about clarity of a simple message, not the flamboyance of a huge budget or a complex execution.”