Many marketing departments are fearful of an impending recession – however, intelligent advertisers view an economic lull as a key opportunity to differentiate themselves from rival businesses.
The Great Recession of 2009 taught marketers how to navigate troubled waters; the answer to which lies within the ability to capture consumer attention with distinct creativity.
With an amalgamation of the written word, striking imagery and dynamic moving image content – creativity enables marketers to tap into a person’s psyche, influence their mood and in some cases; leave a lasting impact on the consumer. In this week’s blog, we’re exploring the methodology marketers can use to boost public morale and ultimately increase brand awareness during a turbulent time.
Firstly, you need to review your current creatives and pinpoint the top performers. Using this information, you can weed out the dead weight and double down on the campaigns that are working. Running tried and tested advertisements also gives you the time to start building and testing recession-specific campaigns.
Today, luxury isn’t reserved for special occasions – in fact, consumers use it to make their everyday lives extraordinary. With this in mind, think about marketing mundane items as elevated luxuries to help customers appreciate the little things in life.
With the doom and gloom state of the economy and issues that are serious on a global level like climate change and COVID-19, trends associated with escapism are very relevant. When creating your campaign, think about indulging and entertaining customers who are looking for a break from real-world woes.
Empathy often equals effectiveness when talking to customers, especially in a time of crisis. During The Great Depression, Walt Disney focused on these emotions and introduced a cartoon mouse character at a time when people were trying to escape their harsh reality. The iconic Mickey Mouse literally helped pull America up from despair and gave it the hope and vision for better times ahead.
No matter the product in question, durability is always a key concern. In a recession, consumers buy items in relation to time, they are therefore willing to spend more on something that will last longer. With this considered, brands need to demonstrate a product or service’s lifetime benefits in relation to its immediate need.
Contrary to belief, during intervals of economic hardship, consumers aren’t looking for cheap products; they are instead focused on value. Don’t talk to them about price – instead, focus on the practical advantage of a product or service.
In this difficult time – human beings look toward leaders, institutions and businesses for direction, comfort and advice. It’s integral that companies understand their importance as mediators; whether it’s supplying fundamental information, or alleviating stress with a light-hearted joke – a strong digital marketing presence is absolutely essential.
With expertise in social media communication, copywriting, design and videography – Cordis can help connect with your consumer; enhancing brand awareness whilst providing escapism, information and ultimately solace in this uncertain time.