Rob Steeles’ Post

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Award-Winning Creative Leader for Agencies, Groups & In-House Brands | Campaigns | CRM & Customer Engagement | Brand Storytelling | Creative Mentoring | Client Creative Workshops | Creative Transformation Consultant

When times are tough, it's easy for CMOs to feel the pressures of your CFO, investors and shareholders and make cuts to your brand-marketing spend. Instead of cutting, begin with 'Re-thinking' 🧠 1. INVEST IN YOUR BRAND 📈 Cutting spend in a downturn causes long-term damage to your brand in many ways. Regaining lost market share requires a future investment of £1.85 for every £1.00 saved from near-term reductions in brand spending. 2. SEE IT AS AN OPPORTUNITY 👀 In a tough patch, 60% of marketers are looking to maintain or increase spend. If you're the other 40%, the cost to your brand's health to get it back to a competitive level will be more than triple the sacrifice of shoring things up in the short term. 3. BE MORE TARGETED 🎯 Figure out which customers you need to maintain to keep your core growth. Keep them sweet, and when things begin to pick up, invest in acquiring new customers. It costs more to gain than to maintain. 4. PLAY THE LONG GAME 🕑 If you don't have a set of long-term KIPs/targets in your strategic plan, you will find it harder to hold your nerve against market forces. The fastest brands to recover in a slump have a things mapped out and more ambitious long-term goals which helps them be more innovative and entrepreneurial with their thinking. 5. BE BRAVER WITH YOUR CREATIVE 💪 You don't have to spend a fortune to get a brilliant idea out there that gets your brand recognised. Customers still need to buy things in a downturn, they're just more hesitant and considered. So give them something to remember, talk about, and share that'll keep your brand front of mind. Braver creative ideas are built on trust with your agency partner, so give them permission to push and it'll pay back. Know a brand that's eccelled in a downturn, pop it in the comments below... 👇 #strategiccreative #businesssense #marketingstrategy

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MARK TAYLOR

DEFINE THE BRAND YOUR BUSINESS CAN BECOME

2mo

Nice summary Rob of what should be the bleeding obvious benefits of a brand belief mindset ..but which rarely is for so many. #brandingcounselmt

Paul Heywood

Pink Condor Consultancy. Specialist in Brand & Comms.

2mo

Marketers around the world; nodding audibly agreeing and then applauding.

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