Brand Value In Tough Times
Right now, there’s all sorts of talk and murmurings about a coming recession. If you weren’t in business ten years ago, then you might not really understand what it’s like to do business in that sort of climate.
From someone whose been there: It’s a weird time to see stock prices drop, sales plummet, bailouts happen, etc. When there’s all sorts of upheaval in the marketplace, everyone gets scared. Those conditions create a lot of fear and that makes doing business harder in many ways.
One thing that I’m happy about now, even if there might be a recession on the way, is that I’m in the brand-building business.
Brand is something that holds its value. Even when the markets drop. Even when budgets shrink. Even when sales plummet. And the great thing about 2018 versus 2008 is that we have an idea that a recession or a market correction could be coming. We’re not going to get caught by surprise. And we can get prepare for it by building up our brand.
In this week’s podcast I cover the value of brand in the face of recession and detail how Congruent recently executed on a successful soft launch of a rebrand.
Subscribe on your favorite podcast platform:
Resources:
Related Episodes:
I’ve been getting myself into a little trouble lately. I just don’t understand how the conflict of interest in the current agency model has lived on for so long. Charging clients fees which are based on a percentage of ad spend just seems crazy to me. Some of the metrics justifying that spend seem even crazier. Most of them aren’t even tied back to meaningful measurables.
Would you rather spend your marketing dollars on ads, or on content that’s created to optimize lasting brand connection? There is an existing conflict in the ad world that is forcing many organizations into ad spend that is out of balance. Because the economy is good right now, I feel like no one is paying attention and I want to start the conversation.
A lot has changed in the business world since I first ventured out to start my own business with a few thousand borrowed dollars and a rusty 1984 Chevy Astro. In the 17 years since there are so many things that 2019 Paul would have been able to teach 2003 Paul. I guess that’s why experience really matters.
I recently visited Bergstrom Automotive, a dealership group out in Wisconsin, and a thought came to me. Are you doing something because it’s relevant to the culture, or are you being authentic with yourself in what you do?
One thing I’ve learned throughout my life is that leadership is not a respecter of industry, age, situation or just about anything else. Leaders understand how to serve.
It’s been two weeks and I’m STILL having flashbacks about how awesome ClarityCon 2019 was… seriously! I know I touched on the event last week, and how empathy was a key theme across all the speakers, BUT... the reason I threw the event needs to be told, too.
Understanding the right way to run a business, both internally and externally, took time. And seeing the old ways of doing things plateau motivated me even more to spread my ideas.
We try to control all the things we can’t, and ignore the one thing we can: OUR MIND.
The one thing you can control is choosing how to react to a situation. Life happens… and you can’t control that. BUT reacting positively and with clarity is something YOU CAN control.
We announced CLARITYCON while producing this podcast at a conference!! #metaconference #metapodcast #hashtag
I find Alex to be a genuine person. There is a deep care and loyalty to his team, a commitment to the industry he serves, and a whole lot of empathy for the modern car buyer.