The Brand Blog
Sunday, 20 July 2008 13:39

Recession-proof your brand

Okay, so no one can totally recession-proof anything, but I’ve been thinking about some simple things you can do with and for your brand during down markets, when the temptation is to cut costs, slash prices, eliminate staff, lower service levels, change who you are and very possibly alienate customers (so that when the economy turns around – which it will- they’ll have moved on). I’ve been thinking about five opportunities:

Recessionary hot dogs

1. Stay true to your value proposition but adapt to new realities. Anticipate how your customers are going to change their behaviour, and change with them. This is particularly important if you are in a category that is the first to get chopped when consumers feel queasy. Coffee drinkers might be skimping on their $4 daily latte, but they might also be interested in buying more beans and coffee-making accessories to roast, grind and brew at home. Large scale computer purchases may be down but service contracts, leasing and targeted productivity tools might be up. Professional services clients may not be planning the big projects but will thank you for bringing them ideas that will improve their performance for minimal investment. There are examples like this in just about every category. The idea is to shift your offer, while staying true to what your brand means to your customer. Keep delivering on your promise, just adjust the scale.

 

Published in The MJ Blog

I’ve always thought that the question was not “how is my brand doing”? It’s “how is my company doing”? Nice to have a top-10 rated brand by Interbrand, Millward Brown or Brand Finance, but if your stock is sinking, which it might well be, who cares about a brand value ranking?

My colleague and friend Jonathan Knowles, founder of Type 2 Consulting and probably our most cogent thinker on brand and marketing valuation, has been sharing with me some of his own, and others’ research on the link between good brand management and the creation of shareholder value. This is not the same as how-does-your-brand-do-in-the-rankings question (which is good for the ego, but not necessarily the shareholder). This is: what is the real value that your brand is creating, from a financial performance point-of-view. Powerful stuff for marketers who need to speak the language of the CFO and very compelling for CEOs working to bring their boards and executive teams onside with investment in brand – when other needs are competing for dollars.

Published in The MJ Blog
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