Is your brand recession-proof?
OK, so if you’ve read any of our blogs or worked with us in any capacity you will know beyond any reasonable doubt by now that good branding is a vital component of any organisation.
We don’t want to go on about it but – it’s basically how you transmit the uniqueness of your ‘thing’ to the people you want to notice. Your brand is your stand out and it’s the reason why anyone, anywhere should care about you. Get it right and untold riches can also be yours. In good times and bad.
Yes that’s right, it’s when things go south that a robust brand really steps up to be counted. A cared-for brand backed with compelling messaging is a huge ally – it provides certainty and reassurance through those times when you think life is out to get you and/or you’re convinced that you’re never going to win another customer – ever.
But, and it’s the biggest of buts, the above is only true if you have worked to make sure your brand is on-point, on-message and well…….. on-it! And that takes time and attention. And because of that, it’s easy to ignore in better economic climates. But look at it like this – if you don’t clean your house for years, people will eventually stop visiting you. Yeah alright, that’s an extreme comparison but you get where we’re going with this.
The best approach is to constantly look upon your brand as a thing of huge value – something that, if tended properly, will stand the test of time and generate reliable revenue through any kind of economic high or low. A (good) brand is for life. For many business owners, when the time comes, their brand is literally all they will be selling on. And right now, it’s more important than ever.
The wolves may not quite be at our doors yet, but they are definitely checking the bus timetable.
When economies around the globe get themselves into the kind of pickle they are right now, people look to the brands they are familiar with for a bit of stability and direction. It’s a little like: “Well it can’t be that bad, the ‘Compare The Market’ ads are still on TV and I love those talking rat guys!”
When things are uncertain and we get jittery we want to know that the businesses we rely on are still out there, fighting the good fight come hell or high interest rates. And that goes for big and small brands. There’s nothing more reassuring for a client than a supplier with their brand ducks lined up declaring ‘business as usual’. Consistency is everything. It’s a big component of trust.
Being superb at what you do and having a great brand narrative to match is the single best way to ride the revenue roller-coaster. But being amazing and having no clue how to tell people about it means you may not be around to see another fun fair.
But don’t just go through a re-branding process because you’re worried about your economic prospects right now. Do you know what you have missed out on in the good times because your brand is failing to say the right things to the right people? What’s the opportunity cost been of letting it amble along unspectacularly. Is ‘doing OK’ really why you do this?
If you want more from your brand and the business it represents you can get it right now.