Thursday, November 06, 2008

How to Protect Your Brand in a Down Economy

Posted by Katie Noonan

Last week I blogged about how some well-known brands are addressing consumers’ concerns in a down economy by pushing their value-based offerings. This week I continue the discussion with a great blog from Media Post’s Marketing Daily Commentary on recession-proofing your brand.

According to the article, in a down economy, some businesses choose to cut spending and bunker down until the economy rebounds, still others move ahead with marketing strategies to strengthen their brand while their competitors are also struggling. While cutting costs may seem like the wiser, more conservative approach, often it translates into cutting marketing and public relations budgets and doing long-term damage to your brand.

Author Nicole Granese of Marketing Daily says, “When you cut marketing during a recession, you stop the conversation with your consumer. You are out of sight and ultimately out of mind, putting your brand at risk.” Instead of cutting marketing expenditures altogether, Granese urges companies to reallocate funds to the most effective mediums. I would also add that a down economy presents a great opportunity to shift your focus to free forms of publicity such as search engine optimization and making use of social networking sites if it makes sense for your brand and targets your desired audience.

I encourage everyone to read Granese’s blog for more on recession-proofing your brand.

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