Conscious Brands Can Thrive During Crisis and Beyond!

When the economy takes a turn for the worse, does it make you question everything you do in your business too?

Right now - the great resignation, mass layoffs, global warming, war, and recessions in various parts of the world - all scream crisis. And in crisis, survival mode kicks in.

However, the word for ‘crisis’ in Japanese, 危機 (Kiki), is written with the words’ danger’ and ‘opportunity.’

Some of the best brands, like Apple, FedEx, and Disney, have been created during a recession. In times like these, here are a few opportunities that can help you thrive:

Branding

Good brands need aligned branding to succeed because it helps create an emotional connection with the ideal customers! And creating a connection is paramount in tough times!

But first, what is a brand? A brand is an entity (organization, business, product, service, or being) and/or the perceived impression of an entity that creates an emotion in the audience! The deliberate process of creating a specific feeling is branding. To create an emotion, every brand needs to work on a few key branding aspects: Strategy, Identity, and Collaterals.

Brand Strategy is about discovering who the brand is, why it exists, how it helps the audience, what it stands for, where it is going, and how to get there. This includes core values, purpose, mission, vision, goals, audience, positioning, messaging, personality, voice, etc.

Brand Identity gives the brand strategy unique visuals and visibility to differentiate it from the rest; this includes brand colors, fonts, words, layouts, elements, photography, logo, etc.

Creating Brand Collaterals like websites, marketing campaigns, newsletters, packaging, etc., based on your unique brand strategy and identity makes a meaningful connection and gains trust externally with the audience and internally within the team.

The audience likes strong brands they can trust. A strong brand presence and creative messaging are the best way to drive trust. And branding is your 24/7 salesperson. A loyal customer base through the crisis will make your business stronger than ever post-crisis because clients are less likely to cut ties with strong brands.

Self-reflection prompt: Does my branding feel aligned with my business? Does my branding attract the right people? How can I improve my branding?

Marketing

Branding and marketing go hand in hand. Marketing promotes a business to the right people by creating awareness and influencing buying decisions that ultimately increase sales.

One of the biggest mistakes some businesses make is viewing marketing as a “dispensable” during tough times. But this is the time to double down on your marketing efforts.

It calls for relevant on-brand marketing. One way to do that is to connect your marketing with the current situations in your audience’s life, industry, or the world in general.

Crisis-friendly marketing material can help reinforce the value of your brand and help ensure consumer loyalty beyond the crisis. You can share how your business can help your customers in specific crisis situations through advertising campaigns, social media, websites, newsletters, etc.

Other ideas to promote your business are to engage in communities online or locally where you can form meaningful connections while educating or helping others by presenting workshops, writing articles (like this one), or creating summits to help them solve a problem.

Remember to measure your marketing efforts.

Self-reflection prompt: Do I have a marketing strategy? How are my marketing channels performing right now?

Customer Experience

You need your customer’s experience with you to be so positive that they’ll stand by you through the dire economic conditions.

Unfortunately, only a few businesses do this; instead, they cut back on customer service during a crisis. The ones that make a real effort to provide and enhance excellent customer service during tough times thrive.

Customers pay for trust and speed and your expertise. Consider the factors your ideal customer would consider. Provide consistent quality experience. Care for them.

Go above and beyond throughout their journey with you. Constantly work on improving your offerings. Think about creative ways to create a positive experience for your client without burning yourself out.

Self-reflection prompt: How can you make your ideal customer’s journey with you easier and happier?

Innovation

Innovation is meeting expectations in the future. Customers buying behavior often changes in a crisis and then again when there is a recovery. We can’t wait for the economy to change; instead, we can find ways to better our offerings and differentiate ourselves in the long run.

The needs and wants of the world, and the market, are constantly changing. Anticipation is power, and constant and strategic innovation can be built into the system. But you don’t have to pump out new products/services just to have something to sell. It means consistently evaluating what’s working and what’s not, anticipating gaps in the market, and creating items that bridge those gaps.

Self-reflection prompt: How can I cultivate innovation as a practice in my business?

Invest

As the saying goes, “you have to spend money to make money.” Investing or reinvesting profits into your business during a crisis can bring you great returns later.

A crisis is a good time to invest in leveling up yourself and your business by turning danger into opportunities. You can elevate your brand by investing in focused education, better hardware, the latest software, aligned branding, conscious marketing, customer experience, and innovation. Hire employees or contractors - due to mass layoffs and mass resignations, a vast pool of talent is available to hire. Make the most of it!

Remember, businesses that make the right decisions thrive in a crisis.

Self-reflection prompt: What’s the one thing I need to invest in right now to make the most of the crisis?

That said, all this is deep work that can’t be accomplished in a vacuum—or overnight. As long as you keep working on it, one piece at a time, your business can thrive during a crisis because ‘danger’ and ‘opportunity’ go hand in hand.

“Whether you suffer, or whether you succeed, is not based on the season,” says Tony Robbins. “It really comes down to what you do.”

FAQ’s

• How can small businesses with limited budgets prioritize their investments in branding, marketing, customer experience, and innovation during a crisis?

  Identifying the right kind of investments during a crisis involves a strategic approach that includes understanding the current market demands, the unique value proposition of your business, and the long-term vision you have for your company. It's crucial to analyze how the crisis has shifted consumer behavior and identify areas where your business can meet these new needs or fill gaps left by competitors. Investing in digital transformation, for example, can not only optimize your operations but also open new channels for customer engagement and service delivery. Additionally, enhancing your brand's online presence through improved website functionality or content marketing can attract new customers and retain existing ones by providing value beyond just your products or services.

• What are some specific examples of brands that successfully navigated a crisis by focusing on branding and marketing, and what strategies did they employ?

  Creating marketing material that is sensitive yet effective during a crisis requires a delicate balance. The focus should be on empathetic communication that acknowledges the challenges your audience is facing, coupled with offering meaningful solutions. This approach involves understanding the specific needs and concerns of your customers during the crisis and tailoring your messaging to show how your products or services can help alleviate some of their burdens. It's not just about selling a product; it's about providing support and building a relationship with your audience based on trust and understanding. Demonstrating how your brand can contribute positively during difficult times can strengthen customer loyalty and encourage new customers to engage with your brand.

• How can a business effectively measure the impact of crisis-friendly marketing material and customer experience enhancements to ensure they are contributing to brand loyalty and not just additional expenses?

  Enhancing customer experience in tough economic times without increasing costs is all about leveraging the resources you already have more effectively and focusing on the aspects of your service that matter most to your customers. This could involve streamlining your processes to make them more efficient, improving the quality of your customer service to ensure that every interaction with your brand is positive, and taking the time to understand and address your customers' needs more precisely. Small, thoughtful gestures like personalized follow-ups, offering flexible payment options, or creating valuable content that addresses current challenges can make a big difference in how customers perceive your brand. By focusing on building strong relationships and delivering exceptional service, you can create a loyal customer base that will support your business through any crisis.

If you enjoyed this article do check out our DIY branding assessment tool here: RateMyBrand and our article on The Power of Professional Branding: Serenity Soaps Success Story

If you’re ready to create a Impactful brand to thrive in crisis, get in touch!