
As companies get battered by the current economic storm, the question arises, “Does your brand need to get battered also?” With brand program dollars quickly dwindling to nothing, how do you maintain the levels of brand awareness, preference and loyalty that you’ve worked so hard to build?
Economic storms are scary events, but a couple of bad quarters may not mean it’s time to jettison your brand. When ship captains found themselves in a horrendous squall in the old days, they used to tie their most prized possession, their wife or mistress, to the base of the mast to ensure her safety. If you have a brand worth saving in this economic storm, tie it to the mast. Now is the time to look at how you are communicating your brand at all of your touchpoints, and make sure you are delivering a clear, consistent brand promise. It doesn’t cost anything to be consistent.
The banks who are jacking up credit card interest rates for their long-time customers are telling their customers, “We’re there for you when things are going well for us, but right now we need to really stick it to you.” If MacDonalds were to cut back on staff to help offset slow sales, service and maintenance would suffer, and they would not deliver on their brand promise of a clean, friendly place to eat.
Eventually this storm will pass, and if you have consistently delivered on your brand promise throughout the storm, you won’t have to build a new brand. You’ll have a loyal group of customers who know what to expect from you…in good weather and raging storms.
