Yinka Olaito is happy,excited and passionate Communication specialist, Social Media expert, Trainer and speaker. Yinka Olaito helps brands(Profits and Non-profits)with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa)
The situation is already making everyone to look for the best way to maximize values from every deal. Everyone is out to get best benefits in terms of Naira or Dollar value on their expenditures. The melt down has made every one a shrewd manager of resources. New businesses are not coming up as they used to be. Yet brands must generate new businesses to survive otherwise it will keep pilling bills. The results of that are obvious-filling for bankruptcy or closing shops.
Many brands that specialize in traditional media advert today are losing big deal to the ever evolving non-traditional mainstream media. Even the digital agencies too are not left out as new discoveries are made daily. Other product or services brands are also being affected. People cherish and value their age long items just to safe cost instead of buying new. It is only in our clime that auto market is booming with new cars racing through our streets each new everyday. To generate new brand business, brands can look at the following and annex the opportunities presented by them during this recession.
1. Relationships: more than ever before, strong relationships that have been built over the years can now be annexed. For those brands that have ignored or treated their communities badly, they will suffer untold calamities as these customers can now pay them back. The best time to annex relationships is now. Relationships can be annexed to get new businesses. So think about all your friends and networks that the brands have nurtured over the years, someone somewhere may be a source of great business.
2. Referral: A good comment or referral from your networks and relationships can also help now to give your brand a new business. Even though this may be an all time route, referral will help in no small deals now.
3. Reputation: This will become a great source of new business this season. Does your brand has reputation for offering value. Reputation has to do with brand’s right standing, strong character within the market that will also help now. Annex the power of the reputation in your brand to generate new business. Brand reputation is its social capital, spend it now.
4. Radar screen: If this has not been used by your brand before, its time to put your brand arsenal up for new opportunities throw up by the time-recession itself. Remember that there is nothing that is totally evil. There is a business benefit in this season too. Look out for part two of this later.