FENNONMCRA,E the pioneering brand and marketing strategy company that launched in Glasgow last month, has released a free ‘White Paper’ on making the most of your brand during the recession.
According to the White Paper, in difficult times consumers become risk averse and go back to tried and tested habits – this applies to products, services and brands.
Says a spokesperson: “To tackle a recession, however, brands must be powerfully positioned for category leadership and growth, even though sentiment may suggest that firms hold fire and do nothing.
“To do this, marketing communications need to be adapted to take account of prospect’s outlook and reflect the way they are viewing the current environment. In doing so, firms can move quickly to take advantage of any opportunities. By ensuring they have a clear and relevant offering, firms can focus on those important customers who are looking for the ‘best fit’ supplier in the current downturn. In focussing their offer firms will automatically attract the best sales prospects, saving them both time and money.”
fennonmcrae founding partner, Paul Fennon, said: “We believe that tomorrow’s successful businesses are being built today. Since protecting sales revenues is the biggest challenge facing companies, just what can be done during a recession to prepare for the inevitable upturn?”
According to the White Paper, there hasn’t been a better time to get the house in order ready for an upturn that should become evident by the end of 2009.
Co-founder, Scot McRae, said: “Whilst contemplating the upturn may not be on your agenda right now, given that the future landscape may be a very different to that which we have all experienced over the past decade, there has never been a better time to plan and prepare carefully for its arrival.
“From a marketing and branding perspective the popular strategy during a recession is to cut back on marketing spend with immediate effect, but we believe that these days marketing and branding is now such an important strategic investment tool that can be used to add significant future value to the business not only during the good times but during recessions too. In fact, from a marketing and branding perspective, a recession provides companies with a number of excellent opportunities that can be leveraged for competitive advantage in both the short and medium term.”
According to the White Paper, one of the easiest things to forget in a recession is that a firm’s customers will decide for themselves if its products and services are right for them. That’s why firms should always remember that the relationship with their brand is owned by its customers and their perceptions. It is a relationship that needs careful maintenance when the chips are down.
Fennon added: “Remember, that the strongest brands are those that communicate clearly and succinctly and that, during a downturn, consumers are looking for the familiar and the reassuring. Adjust your message accordingly. Continue to invest in your brand marketing and negotiate hard with media vendors – they are feeling it too – if you don’t ask you don’t get.”
Continued McRae: “And remember that on average, a recession will last about 12 months before a slow but steady upturn – be prepared for this and plan for better days before the competition comes out of hibernation. The trick is to be there when the sun comes out again and be ready to hit the ground running.”
fennonmcrae helps companies that require an experienced and senior marketing resource when they need it most, without the expense of appointing a full-time marketing director. In providing expertise, fennonmcrae believes that companies can capitalise on their single biggest opportunity for growth – developing a strong brand that’s powerfully positioned for category leadership.
Fennonmcrae’s White Paper and be accessed at http://www.fennonmcrae.co.uk
For further information contact Paul Fennon or Scot McRae on tel 0141 554 8562
Issued on behalf of fennonmcrae by Liquorice Media tel 0141 564 8058
Date 20th February 09.
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Phone: 0141 564 8058