How Branding Can Help Your Business Survive a Recession

Recession! The mere word can upset the steady stroke of many otherwise established and valiant entrepreneurial swimmers.

Some might say that’s understandable — but does it need to be? I very much think not.

In fact, a carefully nurtured brand could well be the buoyancy aid you can rely on when all are sinking around you.

Here’s three quick reasons why.

Strong brands offer cash-strapped consumers peace of mind

Most consumers are naturally risk averse, and this proclivity is especially heightened during periods of economic uncertainty.

Engaging a credible brand with a strong reputation reduces the downside risk for consumers and gives them vital reassurance. To borrow from Rory Sutherland, people don’t necessarily want better, they just don’t want crap. And to that end, when money is tight, consumers are much more inclined to invest it in familiar names that are known to have produced reliable results.

This gives brand-aware companies a brilliant opportunity to increase their market share during recessionary periods.

Adversity can forge stronger connections between brands and consumers