January 31, 2013 at 10:40 AM

Branding When Times Are Tough

Recon Thursday/Price

By James Glover

Once a Day Marketing

James Glover, That Branding Guy, provides the inspiration and ideas for you to build more mindshare and capture marketshare with your customers in his Once a Day Marketing blog. Tune in often to his short, entertaining and practical marketing and branding tips and watch your organization become more successful and profitable.

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Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Recon Thursday. I recently read a Forbes article that made me think about brand ambassadors, your top customers, and whether or not these individuals will be loyal in the future.

The article talked about how women tend to be very brand loyal but because of the difficult economic times they may now be seeking out a lower price over being loyal to a brand. This in turn caused me to consider how to ensure customers understand your brand so that you don't have to compete on price alone.

During these economic times it's very important to ensure your target customers clearly understand the benefits of your product. You must consistently communicate your messaging when times are tough. Ensure you continue to advertise, perhaps more than ever, because when it comes time for your customers to think about buying a product you want to be top-of-mine, you want to own that mindshare so they consider you at time of purchase.

You will have to think about price but you don't want to be only marketing on price because that's a losing proposition.

We need to take this Forbes article to heart and understand that brand ambassadors may not be as brand loyal as they once were and are seeking out price incentives and that it's essential to differentiate your product. I believe that you can accomplish this through your branding and marketing efforts. I also think your customers will continue to be loyal if they have a clear understanding of what your product is all about. Consistent messaging over time and delivering on your promise is key to maintaining that brand loyalty.

Once a Day Marketing assists brands to become #1 in the minds of their targeted customers. To learn more about our company, please visit us online at onceadaymarketing.com. I'm Jim Glover, That Branding Guy, and we'll see you next time.

© 2013 Once a Day Marketing™. All rights reserved.

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