Negosentro.com | Tips for Doing Good and Boosting Your Brand During a Global Economic Recession | If you are concerned about your business during shaky economic times, that’s completely understandable. However, chin up. Remember, a lot of companies have gone through economic recessions many times before, withstood them all, and even bounced back stronger than ever. Do not discount the possibility that your enterprise can have the same fate.
According to the Middle East’s leading branding and design agency, what sets resilient operations apart is attitude. A strong “never give up” mentality can keep everybody’s spirits and productivity up. At the same time, it can generate support; people always rally behind those who refuse to give up and are determined to stay positive.
During times of uncertainty, the best ways to keep your business afloat are to have the right attitude and to implement wise practices. Tackle hindrances head on and trust that there are solutions to every problem.
Listed here are a few solutions that can be effective in fortifying businesses during tough economic situations.
1. Tweak your logo and include components of hope.
Show solidarity with everybody during difficult times. One of the means of doing that is by tweaking your brand logo and including design elements that show hope. Some people think that this is a pointless effort, but studies reveal that consumers do feel uplifted when they see icons of hope.
Bear in mind that most people revere symbolisms; just seeing these has the power to modify their behaviors. For instance, seeing a dove after a storm automatically prompts some people to think that things will get better soon. Let your logo become a symbol of hope as well. Find a way to incorporate a few visual components that can uplift people when they encounter your brands.
2. Align your brand with good-doers.
Another smart branding tactic to employ is proper association. Work with individuals and organizations that are responsible for positive movements. Extend a helping hand to them or allow them to leverage your influence in boosting their efforts.
According to Chron.com, “community involvement is a key part of the philosophy of many businesses,” and consumers instinctively gravitate towards companies that demonstrate strong community spirit. It makes them feel good to support brands that give back and work for the benefit of others.
So, do not just do good on your own. Show support to others as well; make positive connections. You’ll be surprised at how this will benefit your brand in different ways in the long run.
3. Make your slogan relevant.
Making slight changes in the words and imagery that people associate your brand with can have a significant impact on the prevailing attitude among your workforce as well as the end-users of your business. Like with the logo, make your slogan hopeful or optimistic. Turn it into a battle cry that encourages not just your target demographic to soldier on, but everybody else, too.
4. Maintain the quality of your products and services.
Despite the challenges present in operating a business, do your best to continue delivering your products and services. You may be struggling financially, but let everything that your brand has stood for remain.
Country Business Magazine suggests identifying aspects of your business where you can cut back and be creative. For instance, when sales are low during slow times, amp up your customer service. Teach your employees to ask open-ended questions and offer new services at no additional cost to your customers, such as helping them set up a newly purchased product from your store.
Another thing you can do is to explore the possibilities with your products. For example, if you produce a particular food item, experiment with it in your own kitchen to present your customers with ways to use it as an alternative for another ingredient. Doing this will earn your brand extra points from consumers (and usually, along with this, the business increases sales).
5. Be grateful.
Make sure to express gratitude when times are tough. You can do so in a variety of creative ways. An appliance company, for example, shows gratitude by calling customers, inquiring about product concerns, and offering free assistance, installation, and repair services.
Meanwhile, there’s a small coffee shop that expresses gratitude through special offers. For every purchase of particular blends, they direct a specific amount of money from the sale toward an important cause. The coffee shop’s way of showing gratitude to customers is by donating money in their customers’ names for every purchase of such coffee blends. It’s extra work, but it benefits both the brand and customers.
Indeed, there’s nothing like maintaining a winning brand attitude and brilliant marketing to keep business afloat during difficult times. Use the tips shared above by a top branding agency in Dubai, and your brand may prove to be among the fittest in the present global economic survival game.
Author Bio
Hasan Fadlallah is a Serial Entrepreneur – Founder & CEO of Brand Lounge, the region’s leading and award-winning branding consultancy, whose role is to help organizations align their business behind an idea that will deliver success time and again. Equipped with over 20 years of professional consulting experience, today he advises businesses throughout the Gulf and Africa on brand development and in 2014 was recognized by the World Brand Congress who awarded him the prestigious Brand Leadership award in Brand Excellence.
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