Is your Business Recession Proof?
How prepared is your business to deal with a recession or economic downturn? You might be busy right now, but what about when it gets quiet and sales start to slow up?
Your business may be busy NOW!
But are you prepared for when you’re not?
We commonly speak with a business that is trading well and running off its feet. It might be the local tradie, a popular café, or a retail store stocking the latest on-trend products.
I can GUARANTEE you that it won’t last forever!
Branding and marketing are the tasks that every business, regardless of size, should be doing to ensure a consistent flow of ‘loyal’ customers now AND in the future.
“We don’t need to market ourselves; we are already busy enough.”
YES, this is the typical line we hear from business owners, and the cause of why business quickly declines once the shine of their popularity wears off, or new competitors begin to open.
Branding is NOT just creating a new logo and a set of colours.
Branding is strategic and tactical that allows a business to target its message and sales offer to an audience who has a need and is ready to purchase!
Professional Branding Covers:
• Understanding your target market and their needs
• Knowing how your customer researches and makes purchases
• Deciding the right product and services offer
• An analysis of who your competitors
• Designing a tailored brand message and sales offer
• Connecting your visual brand elements to your message.
Connect this with Professional Marketing:
• Turning your brand message and sales offers into engaging campaigns
• Using the right marketing platforms that reach your target market
• Create focused campaigns actions (buy, download, subscribe etc)
• Campaign Management – audiences, budgets, performance reports
• Growing your online audience and brand retention.
How to Prepare your Business for a Recession
Doing all these tasks will ensure your company can survive the economic highs and lows associated with changing buyer behaviours and outsmarting new competitors.
To help recession proof your business, perhaps consider a brand refresh or brand update to build customer retention and create brand loyalty.
Learn more about running a brand refresh AND WHEN you should be doing it!
Call us on +61 3 9863-7444 or email us at [email protected]
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