I read once in a very informative blog that whatever happens, any big corporation facing turbulent times, should not stop investing in advertising. With all the financial pandemonium that's been going on for the past few days, some institutions survived, some barely survived and some tread down to history. In fact, most of us felt we didn't know how bad it was. We all just went with the flow, reading news and making our own analysis and actions. It seems no one from the damaged fence is making a clear and convincing banner of hope.
I was having lunch with Kegler last Friday and we kept talking about the crisis. He is well informed with the movements as I think I am since we tread the same industry waters. We agreed on the perception of how rumors and silence to it may shift the destiny of companies. No matter how stable the company is when a rumor hits, that institution might end up in shambles. Investors, us, being more cautious right now, would not have enough time to study and drill through analysis. It's expected that if rumors and uncertainties are in the air, we bail out. It's simple as that. It's natural and it's expected.
This is where strong advertisement comes in.
Advertise strong and advertise like there's no tomorrow. It's the only way to reach out to clients. Despite the turbulent times the company has to at least calm the public and reach out in a swift and effective way they should already know how. It is through good advertisements, press releases and broad sheet interviews that could strengthen them and buy them their safety and trust from the public.
This morning, I chanced upon this article in NY Times of Vikram Pandit, Citigroup's CEO. He discussed the global bank's standing. He seems pretty optimistic about the giant. It's not like I don't know. He's been sending emails to Citibankers all over the world, but nothing beats a a public strong article. Better than advertisement really.
In this case, silence is a deadly choice.
Read Interview here.
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