In periods of economic downturn, the base response of businesses and customers alike is mostly to stick to what you know in terms of everything from marketing and brand management to where you buy your vegetables. Research suggests that individuals are less likely to make consumer or business changes in a recession. Our point being that STRONG BRAND REPUTATION could likely be the clinching factor that keeps your business afloat through times of financial strife. That means you need to nurture customers through both times of financial abundance and times of hardship.
Often, simply expanding marketing efforts without tailoring elements to focus around frugality and trust (e.g. non-custom , old PVC banners etc) can mark a redundant investment. In times of hardship, the trust trade will out! Of course, we're not saying these tools are useless by any means, quite the contrary; , PVC banners, printed site hoardings they're all very powerful in an intelligently crafted marketing and publicity scheme. However, content and design should be differently aimed to account for the economic ramifications and customer spirit.
For example, a showy display of custom window graphics or banners could alienate customers (who could be insulted by the flash of cash) or conversely, could reassure them as to the state of your business (â€œI'll go with this company because they seem stable in a time of financial uncertaintyâ€).
Ultimately, understanding the relationship between you and your customers, their needs and expectations, and your brand promise and identity will help our creative masterminds to craft an ideal solution.