yinkaolaito.com – the branding gavel, brand communication expert, nigeria brand consultant, social media expert

Many things have been said in the praise of recession and the major influence it wields in bringing every brand activities to a halt. My conviction is that there is nothing that is entirely evil. I do not believe in totality of evil. In every disadvantage is a stupendous progress. That is why even in recession, there is room for profit. Any brand can still make outstanding progress despite all.

Everyone/brand will be touched, but not every brand will be adversely affected like others. A brand that connects, educates, entertains as well as gives generously can still be assured of progress, profit and success. Not that alone, any brand that can show a high level of optimism will draw the light to itself despite the gloomy reality. No one wants to hear a pessimist brand’s story; the brand must keep assuring its stakeholders of a better tomorrow.

There are several values in recession and a wise brand can take its advantage to maximize its value. Recession helps any brand to annex the followings opportunities to ride the storm.

1. Real world experience: The recession offers untold opportunity to brands through self examination of what really matters. It points brand back to the passion that created it. Most times when things become rosy, brand may disconnect from the main, original passion. Recession helps to re assess where the brand has missed its mark, where the brand has pursue fame instead of the vital force that establishes it.

2. Real value: Through recession, brand properly understands the real value that keeps their customers to them. Many brands do not have adequate knowledge of what keeps their loyal customers to them. The customers that patronize a brand during recession are those who had become one with the brand. This in a way gives a clue to the brand the real value it has being creating for so long. This helps the brand to focus its energy in the provision of real value as well as to accelerates them.

3. Real (offline) relationship: recession compels brands to go beyond online relationship. It enhances real value adding offline relationships with its consumers. Take the advantage in having a real life relationship to enhance the brand’s opportunity during recession.

4. Natural joy, less TV: for personal brands, recession helps to build stronger relationship with immediate families and colleagues as they naturally become a source of hope, encouragement to one another. Personal relationships are enhanced because each needs the support of others as not much good news are relayed on TV. People begin to find solace in their relationship more.

5. Fresh, green: Recession offers opportunity to brands to refresh, reframe and become much more active again.

6. Innovation: Economic crunch also promotes brand innovation. To remain relevant, innovation is important during recession. New design improves brand’s sustainability and differentiation. If recession holds such value to brands, brand needs to think positively about recession. There should be no excuses for failure.