When the economy took a nose-dive a few years ago, it affected your business as well. Some of you may have witnessed the closings of divisions, departments, and cutbacks on your services/products. If you were some of the few to survive this period, today you should be seeing an improvement. Now is the time to do an evaluation of your business. Maybe the earlier cutbacks have actually improved your overall operation. But how do you know if that actually made a positive difference? There are several methods, and formulas available to “do the math.” One in particular is a “short form” available at MSN Money. The site has a simplified calculation you can do. This shouldn’t be your final approach to see how the company stands, but it will give you a chance to begin an evaluation process for your business.
So the question is: How do you increase the value of your company? Besides increasing sales, which is not an easy task, you should consider doing things that are in your control. One suggestion is to create an awareness campaign about your company. People and other businesses like to work with companies that “appear” to be successful. Keeping your company name in front of your potential and current customers will improve your brand and it could generate more sales.
An awareness campaign can be as simple as a series of press releases. To really get the awareness going, I recommend including a community program. Look for events that are in your area and see how you could be involved. It doesn’t always cost money to become a sponsor, or to participate in a local, or regional event. Maybe your company has a product(s) or services that the event could use in exchange for paying to become a sponsor. Use this opportunity to let the media (press) know about your activity. If you have an in-house publicity person, (or an outside pr firm) be sure they know of the company’s involvement. If the event warrants, hold a press conference and be visible at the event. Don’t just add your logo as part of the signage. Take an active role and get your employees to participate at the event. If your business is in a position to make a donation to a charity, this too is newsworthy. These are a few suggestions to get more visibility.
It is important to not do a one-shot announcement, or press release. Having an on-going campaign is important. This will establish your company as being solid. Reporters will take you more seriously when they see consistent activity.
Before jumping into an awareness campaign, develop a plan. This will be your guide. It can and will probably change as you become more active. That’s fine. Be sure to consult with your publicity staff or pr firm as things develop so that you continue on the path outlined in your overall plan.