If business development, thought leadership and brand focus were important topics before this recession – the best companies will now put them at the very top of their agendas, so said a top independent strategic economist in Europe recently.
Look at any of the past economic downturns and you’ll see one thing in common with the ‘intelligent’ brands: They each upped their game when it came to building a presence. This took the form of greater marketing activity (to the point where they were selling far more aggressively than during more prosperous times) and introducing new ideas.
The result was that when the economy rebounded and the tide rose above the recession, not only did they come out fighting, they also had a far greater market share than their competition. Those competitors who survived, that is.
So, and I’ve said this numerous times before, now is NOT the time to cut back on your marketing spend. Instead, stretch your budget while marketing smarter. Your brand and company revenue WILL thank you for it later.
Sceptical? Apart from the anecdote above, take a look at the current biggest brand in the world: Barack Obama. He became president of the United States amid the worst global recessions since World War II. Yet, he didn’t stand still just because the times were tough. Rather, he ‘sold’ himself to the world, collecting a staggering number of ‘hits’ on countless websites and inspiring many along the way. His drive for the presidentship spawned a whole new kind of branding in its wake, including a whole host of Obama-branded merchandise, and helped him get more than global recognition; he got elected, too!
I urge you to take a leaf out of Brand Obama’s book and be proactive, (not reactive). Optimise your marketing opportunities during these uncertain times recession. Please don’t be one of the ‘Gordon Browns’ of the business world by only doing something about your lot when it’s too late…
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