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The Business Blitz: Your Winning Strategy for a Sluggish Economy

Written by: Maribeth Kuzmeski

Article Overview: What business lessons have you learned from football season? Haven't really thought about it, you say? Well, here are some pigskin principles especially for financial services professionals.

The Business Blitz: Your Winning Strategy for a Sluggish Economy

Ah, the thrill of the blitz! Football fans know the play well. The defensive team rushes the quarterback as soon as the ball is snapped, leaving the rest of the field wide open. Sure, they're taking a chance, but the sheer gutsiness of the strategy often ensures its success. As a financial services executive, don't you wish you could make a comparable move to give yourself an edge over the competition?
This is a question I frequently pose to my financial services clients these days. Why? Because too many firms in our industry are running scared—and because I want my clients to see that it's to their advantage to take dramatic action while their competitors are busy doing nothing.

In business, what blitz means is to move quickly, precisely and unexpectedly. And if you'll look around you, you'll notice most financial services companies aren't doing anything remotely resembling a blitz. That's because in an uncertain economy, most business leaders (particularly in our field) lose their nerve. They fall back and wait for things to pick up, they hoard their resources, and they wring their hands wondering what to do next. And precisely because the competition isn't making any decisive moves, now is a great time for you to do so.

My Red Zone Marketing philosophy—from which came the title of my new book Red Zone Marketing: A Playbook For Winning All The Business You Want—is already geared toward quick, decisive action. Basically, it compares the most critical and magnified area on the football field, the red zone (the final 20 yards before the goal line) to the most critical and magnified area in business (the unmarked territory where you either lose or win a prospective customer). Because Red Zone Marketing practitioners must "step up" their efforts at the moment of truth, they should have the skills, the energy and the chutzpah to blitz in a sluggish economy.

Executing a blitz can mean different things to different companies. Generally, it means fearlessly putting your resources into well-thought-out marketing efforts, rather than maintaining a conservative (i.e., fear-driven) holding pattern. Consider the following suggestions:

Blitz Component #1: Act Quickly.
In order to gain the edge on your competition, you must strike while the iron is hot. When you see an opportunity, seize it! This is where small firms tend to have the advantage, because they are inherently more agile. They don't have bureaucracy and red tape to wade through. Of course, larger corporations can be structured in such a way that each department has plenty of autonomy, and this sets them apart from their more cumbersome brethren.

Red Zone Marketing Tip: Use The Electronic Superhighway To Your Advantage.
Obviously, you have your own Web site, or at the very least, an Internet connection. This is the perfect medium through which to dispense lightening-quick, timely information to your clients and prospects. E-mail—both impromptu messages and regular e-newsletters—is a great way to regularly keep in touch with these all-important people. Once your clients have gotten accustomed to receiving valuable e-mail from you, they will be very receptive to any 'urgent' messages you may send . . . say, notification of a can't-miss-it mutual fund special or an educational seminar on a new tax law.

Blitz Component #2: Act Precisely.
Obviously, in football, nothing is more precise than a blitz. Everyone is running after the same man! But how does a company act precisely? By focusing all of its marketing efforts on its natural niche, that small corner of business that comes easily to you and is most rewarding. No company can be all things to all people; indeed, the company that tries to do so is destined to fail. In my new book, I describe lots of ways to find and target your niche. Here are just a few of them:

Red Zone Marketing Tip: Four Ways To Cultivate Your Natural Niche:
• Target the top two publications in your industry and write dynamite articles for them. Make this a priority!
• Become a prominent and visible member of the best trade association in your industry.
• Create educational opportunities such as seminars and 'lunch and learn' workshops. Be innovative! You'll make a name for yourself as an expert in your field.
• Use testimonials and success stories in your particular niche; they gain you more of the same type of business by acting like referrals.

Blitz Component #3: Act Unexpectedly.
The element of surprise is what makes the blitz so effective in football. Likewise, in business, it's a great idea to catch your competitors (and even your prospects) off guard. Taking dramatic action in an economy when most financial services firms are doing anything but is already unexpected. But the action you take should be unexpected as well-boldness gets attention, and results.

Red Zone Marketing Tip: Turn A Stumbling Block Into A Stepping Stone.
Here is a real-life example of a business that took a very unexpected approach to what most would agree was a disaster:

During his tenure as director of marketing at a local bank, disaster struck a colleague of mine. For months, he had been promoting what was to be the bank's second branch office. Then, just a few days before the grand opening, a fire destroyed the building. What did my friend do? Well, even before the blaze was extinguished, he had a photographer on hand taking pictures of the burning structure. He then turned them into newspaper ads with copy like "Sorry You Missed Our Housewarming - It Wasn't Quite The Way We Planned It!" Later ads showed construction of the new office in progress, proclaiming, "You Can Build - While We Rebuild," and encouraging readers to use the bank's temporary facilities next door.

A year later the bank finally staged its grand opening. The volunteer fire department, which had fought the blaze, displayed its equipment in the parking lot, and the traditional ribbon-cutting ceremony was replaced by - of course! - a ribbon burning. The weeklong opening celebration included a display of rare, original Currier & Ives fire prints, TV films of the bank fire, miniature fire hats, and more. See the value of the unexpected act?

Executing a blitz is, indeed, a great way to rise above the torpor that too many companies fall into. Besides, it’s fun!

Really, the blitz is a psychological weapon. It's a way of saying to clients and competitors, "You know, we feel energized and sure of ourselves, despite the economic obstacles some companies may perceive. We can do it!" Not only does this instill confidence in your clients and intimidate your competitors, it tends to get your employees revved up and ready for action. It's psychological medicine for your team. You see, business and football really do have a lot in common - attitude is nine-tenths of the battle.

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Article Tags: business, business strategy, economy, Maribeth Kuzmeski, Red Zone Marketing



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