As with many service firms, the company has experienced some difficult times due to the strain the economy has placed on businesses. Stephanie's research showed that the most effective way to communicate with mothers today is online or in person – and that their competition was still focusing primarily on traditional media. Her many years of experience and positive attitude, along with some creative ingenuity, allowed the company to reach a new level and attract more clients. Here is her story...
How has this economy affected you, your business and your family?
Service companies – such as those in marketing – are historically considered dispensable in tough economic times and are often “the first to go” when companies make budget cuts. Earlier this year, a long-term client cut its budget in half as a result of the economy while another client of many years – and one of our largest – began falling behind on payments by several months.
How are you making lemonade from lemons?
To counter this scenario, I decided to differentiate Child’s Play from the competition in a way that would accomplish two goals: make potential clients take notice, and fill a specific need. To do that, we launched a series of proprietary programs. For example: our research showed that the most effective way to communicate with mothers today is online -– and that our competition was still focusing primarily on traditional rather than digital media when it came to reaching the mom market.
The result of these new programs: Child’s Play has signed a dozen new clients in the past few months alone – including major companies that we were unable to interest previously -- and we are receiving a flurry of inquiries from other name-brand corporations.
Any encouraging words you would like to offer mom entrepreneurs?
Instead of feverishly treading water, take time out to step back, clear your mind and think about what you might do that you’ve never before thought of doing to keep business strong. Look beyond the obvious – cost-cutting measures – and devise value-adding opportunities for your current clients and potential clients that address a genuine need in your marketplace.
To learn more, visit http://www.childsplaypr.com/ or the company's blog, http://www.childsplaypr.wordpress.com/. You can also reach Stephanie directly my emailing sa@childsplaypr.com or by calling (212) 488—2060 x 11.
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