Don't Fear the Recession
Your boy Bobby G from Propr is here with some shaggy summer advice on recession-proofing your marketing.
By the way, are we in a recession? Who knows, but marketing friends, with these goals to direct your efforts, I say, who cares?
#1. Brand equity.
Brand equity refers to how recognizable and top of mind your brand is to your customers. Even if your marketing budget has been gutted, make it a priority to at the very least maintain the brand equity you have. Why? Because if you don’t, another brand will take it.
Send emails, create helpful content, post on your social channels, and engage with your customers where they are.
As you know, marketing is an infinite game played with finite resources. When resources might be tight, focus them on initiatives that will make the most long-term impact (not short-term). Are all of our assets conveying an exemplary reputation to our customers? If not, now may be the time to refresh the brand/ messaging and website, say the right thing to the right people, and inspire them to act. If not, the next three to four months will be a great time to commit to a very impactful refresh and new year.
#3. Revisit your brand purpose.
According to a Forbes study, 94% of people want to engage with brands with a clear purpose. This purpose doesn’t have to be a noble global planet-saving mission. It can be, but it can also be to empower & improve your customers, like our purpose at Propr. Having a clear purpose that helps make decision-making more consistent and faster. It will unify your teams, break down silos, and build more customer loyalty and, full circle, brand equity.
Don’t fear the recession, focus, and best of luck, and talk soon.
Hey, it’s your boy, Bobby G from Propr, with some shaggy summer advice on recession-proofing your marketing. By the way, are we in a recession? You know, who knows, but you know, marketing friends with these goals to help you direct your efforts. You know, it doesn’t matter who cares, right? So let’s get to it. Number one, brand equity, is an important focus. Brand equity refers to how recognizable and top of mind your brand is to your customers. So even if your marketing budget has been gutted, make it a priority to at least maintain the brand equity you have. Because if you don’t, someone else will take it. So keep sending emails, create helpful content posts on your social channels and engage with your customers where they are, and you’ll maintain, you’ll get through it. Number two is prioritized. So as you know, marketing is an infinite game played with finite resources. So when resources become tight, focus on even more initiatives that will make the most long-term impact, not short-term, long term. So ask yourself, are all of our assets conveying the right reputation to our customers, right, so your brand is your reputation, so all of your stuff needs to be consistently conveying the same type of message with the same impact? So if not, you know, looking at September through the end of the year is a great time to take a look and refresh your brand, update your website, and do some in-house stuff to kind of re-solidify that brand foundation. So you can hit the ground running and really make a big impact in the new year. And number three, your brand purpose, now’s a good time to revisit that. So, according to Forbes, a Forbes study that I quote, often 94% of people want to engage with brands that have a purpose. And the purpose doesn’t have to be a noble global, you know, planet-saving mission. It can be, but it can be something as simple as empowering and proving your customers like our purpose of Propr. So you know, having a clear purpose helps unify your entire team on a common mission and also makes it clear to your customers what you care about. That purpose also makes decision-making more consistent and faster because everybody knows what we’re working towards and what we care about as a brand. Right? So the most important piece of that is when you leave with your purpose, and people understand your values and what you give a shit about. You’ll build more customer loyalty and full circle right come back to brand equity. You will maintain and grow your brand equity with a really honed-in and well-broadcast brand purpose. So don’t fear the recession. Focus and best of luck. Talk soon.