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CEO / CMO Best Practices
Those Who Adapt Will Survive
Communications in Changing Times
Linda Kimeisa
An Expert in Communications and Public Relations
Those Who Adapt Will Survive
Communications in Changing Times
Rainis, a famous Latvian poet, once said: “Those who will change
will survive”. This quote is particular relevant in current times
when referring to the tough economic climate faced in Latvia, which
is mostly caused by the global financial crisis.
In this era of globalization and strong competition, every
entrepreneur is trying to find ways to minimize the costs and plan
the communication budget so that it can be spent much more
effectively.
It is especially important during times of economic crisis that
entrepreneurs stay visible. Yet, the communication budget is the
next to be diminished after reducing human resource expenses and
other employment benefits. It is therefore crucial for entrepreneurs
to be sure about the professionalism of the communication executive
and the targets they need to achieve to maintain both their position
in the market and their reputation in the eyes of the consumers.
As a result of the global crisis, Latvia’s GDP as well as its
media market is shrinking and the prognoses for the following two
years are very cautious. The latest research which details the
effects of the global crisis on budget planning in different
business segments in Latvia, shows that many small and medium size
enterprises are about to close their marketing and communication
departments or at least are not planning to use the services of the
communication consultants. Those who will keep the department alive
and/or will still use the communication consultant will work on
finding different communications channels, messages and target
groups and will search new, creative solutions.
These occurrences mark a new trend for the communication
industry. Instead of traditional communication solutions, there will
be new strategies used, for example guerilla marketing, search
engine ranking, online social networks, and professional networking
events which are very popular in USA and Western Europe, but not
very well know as a business communication and marketing tools in
Eastern Europe and Asia yet. These platforms open up new
opportunities for people who are creative and are early adopter of
change. Looking at the data on media spending in Latvia we can see
that almost 90% of the communication budget is spent on traditional
media, meaning that there are a lot of opportunities for new
communication methods to be developed. It is also obvious that
traditional media like the press, TV, radio and Internet will have
to find new ways for attracting advertisers, as the return on
investment is diminishing with information overload, over-exposure,
and competition from digital media .
So it is true! Those who change will survive. Chief Marketing
Officers (CMOs) need to follow the trends of the market and be
flexible in their strategies and communication plans to take
advantage of the emerging opportunities. They need to update their
knowledge, systems, tools, and processes to the master the emerging
platforms. Those who lead the change will secure a preferred
position and gain a new competitive advantage. Those who lag will
miss the opportunity.
About the Author
Linda Kimeisa, is a leading expert in search engine marketing,
digital branding and public relations. She has a Bachelors degree in
external relations of public institutions and enterprises and
Master’s degree in public relations. Linda specializes in online,
low cost, and innovative solutions for integrated marketing
communications.
Online Marketing Pro
To Learn More contact Linda Kimeisa at linda.kimeisa<at>gmail.com
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