Maintaining Brand Reputation in a Recession

A well-established and recognised brand is one of the biggest assets any company can have. But when times get tough or change, some brands can find themselves struggling to maintain their reputation.

A number of recent high-profile retail failures reinforce the message that brand management continues to be a huge factor in business success. When times change, as they invariably do, it is important not to rest on the brand reputation you once enjoyed. Continued marketing efforts are vital to future success – the brand you once had may not necessarily mean the same to your customer base as it once did.

Trust – relying on your old reputation as a reputable, trustworthy retailer yet attempting to deceive your customer through pricing anomalies, poor customer service or a lack of attention to the quality your brand was once famous for is a sure fire way to reduce your sales in the short term and destroy your brand status in the long-term. Consumers are now internet savvy and online reviews can make or break modern brands and businesses. Stay true to your brand’s message and customer expectations – word gets round much faster now.

Adapting to the times – Great brands that that thrived in the 80’s and 90’s are struggling to maintain sales and worse, struggling to grow. Archaic models that used to appeal to shoppers pre-internet have become outmoded – do not let the same happen to your brand. Move with the times and get to know the new generation of shoppers

Marketing – Banking on your established customers and new remembering you in the face of increased competition is unlikely to pay off. Continued marketing and brand exposure is vital to keep your brand and what it stands for fresh in the public mind. Explore new ways of gaining exposure, particularly through online mediums and real-life ‘street’ brand exposure. Be inventive and revive your brand.