24 January 2010 55 Comments

Brand survival in a distressed economy

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps 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) and Africa Foundation for Young Media Professionals

[stressed brandBrand in stressed economyThe sign of stressed economy is here today. It is obvious that little fund is being programmed to accomplish many tasks. Many individuals who have been victims of lay off may not even have enough to go round either for their families or themselves. The recession effects though seemed declining in advanced countries; most developing countries are still confused on the way out. I want to believe also that this situation is applicable to many personal brands in developing economy. Because mine country seemed to be among developing countries, I can not but once in a while be concerned with the plight of my people.

The huge crowd that has been laid off is still battling in the euphoria of what the future holds. Recently someone in a paid employment told me that the opportunity I have to build a strong personal brand is due to the fact that I am not engaged in a 24/7 duty or possibly that I am not at the lower level of management in my organization. While I responded that anyone will have time for what is uppermost in his/her priority, I also thought that many who still  hold a job are  under intense pressure to deliver or they will be shown the way out. By the time they come back home, they are already worn out. Many around me also go to work on weekends to cover up the demands of their responsibilities.

To thrive in today’s distressed economy; innovative brands must begin to leverage on power of social media to expand their brand’s appeal, relevance, and credibility as well to protect their brands from avoidable crisis. The challenges of social media that I have seen though is that to gain recognition, it is not a platform for ‘weak hearts’, lazy individuals or brands looking for quick fix it. Such brands will fail without any warning signals and such brands are the ones that will conclude that there is no credible ROI in social media.

An intelligent player in social media games can stand out of the crowd through proper management of great content, backed with sound creativity. Through right influence, a brand can still drive enough customers that will keep it afloat the troubled water of the present economic position. I have also discovered through feedbacks from my community that over dependence on a social media channel will not help much. The present crops of clients are looking for more value while they are not willing to pay premium. The positive side effect of a truly satisfied client or community member is that they will bring their friends, families, colleagues to patronize your services at no charge or increase in marketing charges.

Given the above, we are about to introduce a new channel to this community. The channel will be known as BRANDGAVEL RADIO. Hopeful in the future we may bring in Television series when the logistics are perfected. Brandgavel radio programme is a series of audio programmes that will  be featured weekly on this platform. It focus will also includes intelligent panel discussions on a range of issues that affect brands enlightenments programmes, personal brand initiatives, success stories, interviews with successful entrepreneurs who are willing to share their success stories from ground up. So if you know any one we can interviews who have credible brand stories that can inspire others who are still going through stuffs, please do send their names and contacts. Is your brand still romancing the old ways of doing things?? It is time to have a rethink.

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