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)
Storm has continued its rage for many brands, eventually the big brands are going down. GM is now in the news. Advanced economy has been affected, major brands are declaring bankruptcy and aids are being requested. Staffs are being laid off. Many brands are still searching frantically for the way out.
A concerned brand owner asked me recently ‘what should I do after brand differentiation while the recession continues to bite hard’? For the sake of the individual above and many others out there, let us examine certain other factors that can help brand owners scale the recession as there is no clear sign from the economic experts as to when this will come to an end.
1. Offcore value: The age we find ourselves today demands that brands go extra mile in bringing solution to clients’ problem. One of the advantages Nokia initially offers was to make cover that can match people dress available to them. In other words, Nokia made phone cover f different colors available to those who buy the phone. This actually got the attention of their females customers as they all rushed for the brand. Think of additional benefits you can offer your customers without unnecessary cut throat charges that will chase them away.
2. Price reduction will not guarantee patronage: Many believe that reducing their prices below what others are offering will hold the magic. That is far from it. Be the brand that supplies untold value, give off core value, then you can scale through.
3. Encourage, empower your ambassadors: Your brand’s ambassadors are your people, stakeholders, workers or anyone who is helping in pushing the message. The time is hitting them too and they have personal challenges they are battling with. So they need encouragement. As brand owners, be interested in what goes on in their private lives and help them overcome their personal challenge as much as you can. Then you will notice they will be committed to the stake of brand’s success.
4. Build trust: This is a social capital that can go under if not proper managed. Be open to your customers and let them see your brand is on their sides and you will go extra miles to help solve their problems. Do have investor’s relations meeting, gather other stakeholders meeting and feel their pulse. More importantly, make them a strong community through the use of social media available. Cutting corners will not be a good strategy now.
5. Brand experience: Make contact experience great. That sounds simple but its work. Can someone share what has worked? Use the comment section.