To identify how brand messaging changed during the 2007-2009 Great Recession during the holiday seasons. The research will inform a creative brief for a lifestyle campaign.
Brand Messaging During Recessions
An analysis of previous recessions reveals that brands which keep advertising increase their market share. Advertising that includes excellent brand messaging, resonating with the existing and prospective consumers ensures that the brand stays relevant throughout and after the crisis.
Businesses that pivot their messages and show consumers that they understand their challenges are successful.
However, simply spending on messaging does not guarantee success. Spend is a less important determinant of effectiveness and should be combined with creativity when marketing during the recession era. Creativity includes incentives such as Black Fridays, free discounts, free coupons, trial periods for services, combined with messages of hope and positivity.
During past recessions and financial crises, brand messaging that memorably focused on brand heritage and made an emotional connection with its consumers grew brand preference. Brand messaging is very important for maintaining a lasting connection with consumers.
During recessions, brands should remember that their loyal customers are the main source of growth and cash flow. Maintaining positive brand messaging should not be optional but a good initiative that is necessary for bringing in revenue from these main consumers and others.
Only the project owner can select the next research path.