Building Your Brand During A Recession
By Lauren Howe and Teri Uyovbievbo, co-founders of up-and-coming South Bay marketing start-up, The Social Block
The onset of COVID-19 has ultimately ended a decade-long trend of economic growth in the United States. In it’s place, we now have the highest rates of unemployment since the Great Depression. The unprecedented economic downturn has also ushered in the swift demise of formerly successful corporations.
Although COVID-19 has brought difficulty to many businesses, the high rate of unemployment has left many to focus on what was previously their side-hustle or freelance work. A small percentage of job prospects has left us with gig work, using our marketable skills and furthering our educations.
While this is a difficult time to build a brand, it isn’t impossible. In lieu of attending meetings, speaking on panels and networking in the community, placing the focus instead on the company’s current messaging, graphics, website, public relations, social media and marketing efforts is essential. In order to get your brand in the spotlight, you’ll need to create a memorable logo so that people recognize your brand as soon as they see your awesome logo. COVID has thrust the world into a work-from-home, online shopping, and food delivery reality. Building your brand during this time is not only the smartest move for your start-up or business – it is the only move that will keep you competitive in a post-COVID world. The following steps are what we at The Social Block do for ourselves to build our brand, as well as what we would always suggest to clients.
Take relationship building digital
We know that nothing can replace face-to-face interactions and networking, but in a digital world, it’s not enough to just do one. Looking out for media opportunities, offering discounted services to local non-profits to support your community, participating in roundtables, panel discussions and curating a well-managed social media presence are all essential ways to build your brand online.
Social media has been, and is continuing to be, a method of providing customer service and increasing brand loyalty. Although the recession may be limiting those buying or product or using your service, communicating with your target audience, asking for their success stories or feedback, and showing that you listen, care and are engaged, will keep your business top of mind and keep business flowing when the economy stabilizes.
Don’t stop marketing
Depending on your product or service, you can choose from email or mail campaigns, utilizing ad space in relevant publications, or targeting your audience directly through Facebook, Instagram, Twitter or LinkedIn ads. It’s not enough to leave your growth to organic views, shares and customer/client reviews. Getting new traffic in the door and fresh eyes on your business will increase your brand awareness.
Even if COVID may cause a delay in conversions or results, you want to be one of the services or products on your target audience’s list to try after your area has reopened and the economy begins to repair itself.
Assess where your brand is at currently
It may be time to take a hard look at what branding you had going on before COVID, and determine if it is time to make a change. Is your website difficult to navigate wit outdated items? Is your social media active, and is it used to build relationships with potential clients or customers, or is it used almost as a “personal” account, full of successes and company outings? Are you participating in speaking engagements and interacting in you community? Are your graphics, presentations, business cards and logo truly representative of what you do?
Take a hard look at where each area stands, and be honest about what could change. At first glance, are you truly giving off the impression you want?
Times are tough, but it’s an opportunity to pause, reflect and rethink the way you do business.
