Brands getting it right

No question, 2020 has been a shocker for many brands, and as we enter 2021 we will need to come to terms with how we navigate the recession.

Research of the past four recessions shows each has followed the same pattern, some businesses don’t survive, most take three years to get back to where they were, and 9% flourished.

So what did those who flourish do differently:

  • Balance between cost cutting and operational spend
  • Increased marketing, R&D and new assets
  • Cost cutting focused on improving operational efficiency rather than cutting staff
  • Stayed closely connected to their customers needs
  • Increased their share of voice

Businesses who maintained or grew their advertising spend during recessions not only set the company up to survive the recession, but they thrived in the period that followed.

This result has nothing to do with the recession, it has everything to do with advertising share of voice.  Simplistically, if you are the only brand in the market advertising and promoting yourselves, your brand becomes the only brand in the segment for the consumer.

While during the recession it is likely you will experience a reduced return on your advertising investment, you will likely increase market share, and once the economy improves your chance to maintain market share is strong.

The choice is yours, you can stay brand bright, maintain and grow your market share, and attract customers from your competitors………..….. or you can go dark.

What are you going to do?

 


Business marketing needs are changing

Businesses are reviewing their operation and their marketing performance, we are seeing demands of marketing effort fluctuate, freezes put on staff, and adjustments made to budgets.

An emerging trend from this change is the rise of Marketing Partner Agencies.

So what is a Marketing Partner Agency?   It’s an agency that provides marketing operational and/or management staff together with specialised support services ie marketing and brand strategy, social media, creative, media buying, web development, and PR.

The benefits of having a Marketing Partner Agency is flexibility, on-call support and access to marketing specialists.   A Marketing Partner Agency can provide a safe set of hands for your day-to-day marketing operational needs, staff for one off campaigns or project work, access to a strategic team and specialists when you need them.

Roadmap Strategy is a Marketing Partner Agency.   If you would like to know more about how we work, or chat through your marketing challenge and explore how we can help, give Ali a call on 0411 135 317.


Darrell Lea - a brand getting it right

An Australian family owned business established in 1927, and after nearly collapsing in 2012, Darrell Lea is shining brighter than ever before.

With strong brand equity and awareness, Darrell Lea owned a place in the hearts of older Australians.  And while the brand wanted to maintain those relationships it needed to build relationships with a younger audience to ensure its future.

From asking questions and listening, Darrell Lea developed a deep understanding their customer, and responded accordingly.   A new brand identity, new packaging, new products, and sharing their journey with consumers resulted in stronger relationships, increased trust, and brand advocacy.

Next, they demonstrated their commitment to sustainability.  In 2019 the brand moved to 100% sustainable cocoa, and last week they announced Darrell Lea is PALM OIL FREE, the first Australian chocolate supermarket brand to do so.

The Darrell Lea brand understands and cares about what it’s customers think, want and need from a brand and responds.

There is nothing about Darrell Lea that is going dark.

Congratulations to Marketing Director Tim Stanford and the team at Darrell Lea, we can’t wait to see what’s next.


The risk of going dark

It might be tempting, easier, and maybe even save you a few bucks by letting your brand go dark, but the result could be catastrophic for your business.

Your customers care about your brand, and personally invest in your business and what you do. They want your brand to be successful, they want to share your story, and their experiences with your product with their family and friends.

However, if you go dark, you risk a competitor or alternative product grabbing your customers attention, and the place in their heart that you once owned.

Increasingly, your Marketing Partner or agency are critical to help guide and support you through this period of change.

Consider the following
1. Do you need to adjust your business goals?
2. Have your customers’ needs changed?
3. Does your product need to be adjusted?
4. Can your marketing effort deliver better results?

We encourage all businesses to bring their external Marketing Partners to the table to work with you help you review your approach and reach out to your audience with the right message, at the right time, in the right place to achieve your marketing and business goals.


Marketing in a recession

Australia is about to go into a recession, we have been warned, we have been there before and know how it plays out. Albert Einstein once said “If you want to know the future, look at the past.”

So let’s have a look at the past.

Businesses who maintained or grew their advertising spend during recessions not only set the company up to survive the recession, but they thrived in the period that followed.

This result has nothing to do with the recession, it has everything to do with advertising share of voice. Simplistically, if you are the only brand in the market advertising and promoting yourselves, your brand becomes the only brand in the segment for the consumer.

While during the recession it is likely you will experience a reduced return on your advertising investment, you will likely increase market share, and once the economy improves your chance to maintain market share is strong.

The alternative is your brand goes dark, loses market share, loses customers to competitors and has to start again.

What are you going to do?