Branding and marketing in a downturn

There’s no ignoring the fact that people and businesses are starting to struggle with the increase in interest rates. Is it bringing back C*vid small business heeby-jeebies?

In this economic climate many small businesses pull back on everything; you go into business-survival mode, reduce expenses and do what has ‘always worked’.

You may be tempted to lean on traditional ways of branding and marketing. And by traditional, I mean speaking in a plain tone of voice, talking about the facts and features of your product or service, rather than how much better they make the consumer’s life—using industry standard colours and fonts. Reducing your prices to be more affordable and diversifying your offerings. Or having promotion after promotion.

All these changes feel safe. But do you know what else they feel from your audience’s perspective?

• Cheap.
• Poor quality.
• Old fashioned.
• Nothing special.
• Desperate.

With the economy feeling fragile, I understand you don’t think now is the time to be taking risks in business.

But what did you do during the last few years when times were tough? 

You watched funny videos, spent more time making buying decisions and made sure your purchases ticked ALL the boxes first. 

You bought services and products that:

• Served the purpose well and had testimonials to prove it
• You liked the business as a whole, perhaps agreed with an opinion or two they have
• Looked good! No matter your preferences, some part of decision was based on how the product or service looked
• Made you feel better than you did before! Whether it was an air-conditioner, car, plant, or skincare, it ticked all of the above AND made you feel good. Even that weird Instagram purchase made you feel better for about…30 seconds!

So instead of pulling back and hiding in a hole? You should carefully and strategically lean into your differences, clarify your messaging, and use branding and graphic design to stand out from all the other businesses pulling back.

In fact, it will likely be easier now to stand out from your competitors. Because, unless they’re all reading this article and acting on it, they will probably be pulling back in some way.

So let’s get into the juicy details of what you can do to keep growing your business, and why it works.

7 steps to use brand strategy and graphic design to help your business in an economic downturn, in order:

2. Listen to your audience

Ask your audience, customers, and potential customers questions. Find out what they need, and how your current can solve their problems. Are there considerations you haven’t thought of that you can include in your messaging? Do you need to add clarity around particular questions on your website? Ask hard questions and see the feedback as getting clear on your audience’s needs rather than getting bogged down in how you’re not meeting their needs.

4. Create a new offer that serves lower budgets without discounting

Rather than create a steady rollout of promotions and sales (like have seen recently from boutique retailers) which cheapens a brand, create a new offer that serves smaller budgets AND doesn’t discount (ie devalue) your existing services/products.

6. Maintain visual consistency

Once you’ve been through the steps above, pick an aesthetic that ticks all the boxes and stick with it for at least 6 months. You’ll start seeing results in about 3 months, so the sooner you start the better! Update you social media templates, email newsletters, website, email signature, invoicing as a start.

Need an expert eye?

Creativity is still the one thing that can’t be templated, taught quickly, or AI generated. I have a never-ending chocolate fountain of ideas, so save the time and struggle and book a no-obligation chat.