National Economist: How Are You Positioned for the Recovery?

What happens when a dominant and sagacious figure like Warren Buffet intones on national business television that “the economy has fallen off a cliff” and states to his Berkshire Hathaway shareholders that the U.S. economy “will be in shambles throughout 2009”?
Struck through with fear, some might start chanting the following in a tiny voice: “Go to a happy place. Go to a happy place.” Others – while acknowledging the unsavory 2008 historic data released by the U.S. Bureau of Economic Analysis – might put their heads down and go to work to carve out their part of the $14 trillion brute that represents the U.S. GDP.
According to economists and business consultants interviewed by MidwestBusiness.com, that latter bit is exactly what people should be doing right now. Despite the doom and gloom of job losses and stock deflation, critical national economic trends are starting to show real signs of an impending turnaround.
National economist Alan Beaulieu of the New Hampshire-based Institute for Trend Research accurately predicted in this column seven months ago that the U.S. economy would soon enter a “perfect storm”. With the Massachusetts-based institute claiming a 96 percent accuracy rate, what’s Beaulieu saying now?
“Companies need to now begin positioning themselves. Conserve cash and get ready for the recovery,” he said. “The recession will get worse over the next six months,” the economist continued, but noted that companies need to “start looking now at marketing to position themselves”.
Beaulieu and other business experts are not talking about traditional marketing here. They’re talking about ensuring that corporate prospects, customers and stakeholders know both that your company is still “a going concern” and is prepared for growth.
In 2008, the Massachusetts economist strongly advised companies to cut their marketing and advertising budgets in order to conserve cash. In doing so, these companies disappear from the radar screen of their prospects and customers unless they continued a strong public and media relations program to keep their names out in front.
In the absence of continued marketing to retain mindshare, news of the company’s performance can leak out through negative word-of-mouth and e-mail messages from employees. This negative brand bruising can be especially harmful if employees see widespread layoffs or have been subject to payroll delays or furloughs over the past few months.

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