Maintaining a Brand in This Economy
Tuesday, January 20th, 2009If you’ve been paying attention, you probably know that our current economic problems are related to confidence in the health of the economy and cash flow. When things are going well, the two usually go hand-in-hand to create a virtuous cycle of economic growth. Right now, they are working hand-in-hand to create a vicious spiral. While the current picture isn’t a good one, I’m confident we’ll recover and be stronger for it. As a strong believer in the concept of “circles of influence”, it makes sense to consider how we can contribute to a quicker recovery while strengthening our brands at the same time. I’m going to cover both confidence and cash flow from the perspective of branding and marketing.
So – you ask yourself – what can I as a marketing professional do to help our good nation out of this economic malaise? Well, you can provide your customers and prospects new opportunities to interact with your brand: directly, by setting up at events, calling customers to check in and sending out offers, or indirectly, through print, web and broadcast media. Except for a few sectors walloped by the recent financial crisis, customers are still there doing what they’ve always done, albeit with tighter belts. They are sitting on the sidelines a bit more, going through their own personal pains and perhaps re-evaluating their priorities. (more…)
