Image source: https://peergrowthtechnologies.com
To thrive in a competitive world, a business needs to face the downfall. Yes! You read it right. A period of recession gives a business company the boost to achieve the success that is compared to nothing else. In such a period, the businessman, developers, and marketers do their best to make the plan work. They go through everything thoroughly looking for ways that can help them built a stable establishment. The advertising companies in Dubai annually receive many clients with brands that are in dire need of new strategies.
One such example of the brand that managed to survive the sinking ship is Amazon. The present bright future of this e-commerce platform makes it hard to believe that it did once face a period of recession. It was back in 2009 when the times were hard and the company grew sales by only 28%. But, they focused on the long-term and managed to stabilize their brand.
If you are facing a similar situation in keeping your small or large business stable, then here are the 5 brand strategies that will help you defeat recession.
1. Define/ Redefine your brand values and objectives
In the time of recession, you need to show your customers that both, yours and their ideology match. The reason you have built your product is to help them perform their tasks easily. And also, your brand values and thoughts must be in the front so that either the users can stand by your side or against you. According to Deborah Maclnnis, Ph.D. and a marketing professor says, “People buy a brand because it says something about who they are and what they believe in. If there’s a brand that does something bad, people feel betrayed but also feel that wearing it would signal that they agree with the values of the company.
2. Fulfill the brand promise and avoid scandals
One thing that the branding agency Dubai vouches for is the maintenance of brand’s reputation in the global market. No matter what the economic situation of the country is, a brand must never act in a way that would harm its image. Thus, try to avoid involving in any kind of scandal.
Another thing to focus on is the fulfilling of the promise. If you are claiming of high standards product then make sure you deliver it. The customers hate to be cheated upon, everyone does! Therefore, make sure you keep your customers happy by not breaking any kind of promises that you made.
3. Practice marketing with freedom
If you wish to save your business brand, make sure you establish its online and offline presence. In this digital age, everything is now present on the internet and so it is important to make your brand alive on the internet. Marketing through the official website, reaching the audience and customers via social media platform and emailing is what you need to do. Look into the latest marketing trends and try to incorporate them into your business strategy. The digital marketing, if done right, is the cheapest way to advertise and sale your product.
Michael Hardy, a marketing specialist at Australian Writings says, “You can take advantage your brand’s social media presence and get responses directly from your followers. In order to motivate your audience to help you with constructive feedback, offer them an incentive. It could be anything from a special report to a small free e-book.” This is how the experts and specialist think and make things work. They tend to create a win-win situation and make their brand work.
4. Specify your niche and be authentic
The brand strategy at number four that we have requires you to specify your niche. Make sure you are clear about what you are selling or offering. The customers on the other end must know for sure what they are dealing with. If you are specific about your products and services, you’ll be determined to become the best in it and be authentic. Terra Bohlmann of BrightBound says regarding it that “It highlights your confidence in yourself, your skills, and shows your authenticity.” Thus, makes you successful!
5. Bring influencers into the game
Image source: https://www.influencerdb.net
Getting an influencer for your brand instantly uplifts the brand. People love to follow the recommendations of the famous celebrities and known public figures. It builds an emotional connection between the influencer, brand, and the customers. This connection helps in increasing the sales of the product.
Conclusion
With the implementation of these five or any one of the brand strategies, you’ll witness uplift in the brand’s reputation and sales. They are meant to strengthen the overall image of the brand and to manage them well.