How to build a strong brand in a weak economy

We go beyond the bad news: To say that the U.S. economy is facing the most difficult economic situation since the Great Depression is not an exaggeration. Last week, employers shed nearly 600,000 jobs. Today, 11.6 million Americans are without work. According to the Bureau of Labor Statistics, the unemployment rate is officially rose to 7.6%.

"This is the largest 13-month job loss since the payroll employment series began in 1939," Christina Romer, the head of President Obama's White House Council of Economic Advisers, said in a statement on 6 February 2009. "These numbers and the real suffering of American workers they represent, reinforce the need for bold fiscal action. If we fail to act, we lose millions of jobs more and the unemployment rate could reach two digits. "

So what's the good news, you say? In light of these data, how do business leaders, nonprofit and rekindle confidence in their ability to lead? How do you exemplify brand integrity, and their will be any good organization can have? It's also possible, given current levels of consumer confidence and general economic malaise?

Not only can you build a strong brand for the current economy, there is the incalculable opportunity to thrive. Using the time-honored rules, you can strengthen the confidence of the brand and grow share of wallet and voice, even in these difficult times. Two great opportunities to exploit the time-honored rules come to mind: Competitors Opportunity # 1) are reducing their marketing spend and Opportunity # 2) Interested parties are more sensitive in times of uncertainty.

The competitors are cutting marketing budgets and research

In 16 years as a marketing professional, I often tell clients, "you never stop to communicate with stakeholders when times are hard." When trust is low, customers and employees want their institutions to exude confidence in competence, integrity and a core of humanity. When competitors "go black" to cut costs, professional marketing experts use the opportunity to fill the communication gap that is relevant to the lives of their stakeholders. These days, he wins that provides comfort, confidence, perseverance and consistency. Here are some economic methods, but powerful, for the production of major awards:

1) social media networking. A number of organizations are using Facebook, YouTube, LinkedIn and Twitter to communicate directly with the public. These tools are great message, but are also great tools for listening. Spend some 'time to listen to talk about your brand. If you are a small business - to generate some 'positive chat!

2) social responsibility initiatives. For example, XYZ Company employees can work together in mentoring young people, help a local charity, or to provide skills for a young budding. These initiatives are not only good for the region, tells a great story about the soul of the company (even when times are tough).

3) Consumer Advisory Boards. It is a tool that we recently suggested to a customer with a limited research budget. We helped them recruit a group of major customers of different levels of loyalty and satisfaction of helping the company with product re-design and development message. Customers can do a great job of keeping you honest, if you let them.

Customers, employees and shareholders are on heightened alert

Whether leading a small business or a multinational, every message that emanates from your organization (and brand) during this difficult economic climate takes on additional significance. The stakeholders are listening to what you say and watch what you do. Consumers are not spending as much, but they are listening to the signals sent to organizations. Employees are concerned, however, are paying particular attention to the moves of their leaders do. With each new data point, both parties have increased confidence in your brand - or you lose them. This is the time to establish your credentials as deep as a trusted brand. Here are three key actions to create a strong brand in a weak economy:

1) Exude Integrity. This is the most important element of building a trusted brand. Recently, I was conducting an interview for our confidence in the next Leadership Series, and an executive VP of worldwide hospitality company told me that the way in which his organization was able to thrive in this economy is that its brand, "guarantees the promise. There are no exceptions." My words were to him: "Of course ... What else can you tell me?"

He said something really interesting: "This is not what I say to you, this is what I do for my clients around the world."

He had recently visited one of his high-end hotel chains in a large U.S. city, and was told that a (now former) employee blatantly lied to a long-time customer of a service offering. That particular client company had held their annual convention at the hotel for many years. They were very profitable, and brought a stream of positive national press each year. He concluded: "The situation was eventually resolved, but I felt that our integrity was in question. The following weekend, I got in my car and drove in three states to apologize to their advisers, and to refund a portion of their taxes. " His integrity will not be forgotten.

2) Showcase organizational capabilities. One thing is to talk a good game, it's another to deliver. Stakeholders want to know that the product works as intended to, and that your team has the technical knowledge to fulfill the promise. Take the opportunity to increase the institutional knowledge of your organization. Take advantage of interest-alert interested parties to educate them. Become a reliable source of information, transparency and information in your industry or sector.

3) enact Goodwill. Authentic goodwill, in particular as the public suffers, activates a powerful message through the channels organizational and all the marketing mix. For example, firms with a long-term investment in sustainability practices are shoring up the credentials as brands that "do good while doing well." Other organizations have taken steps to reduce costs to save the jobs of permanent employees. Even small businesses are always in action, helping their limited time and money to worthy causes.

Leaders in Corporate, Small Business, civic and government institutions have the unique opportunity to build trust and lasting brand strong, even in an ever-weakening economy. The key is to lead with integrity, highlighting the individual and institutional capacities, and let your stakeholders know that your company has a soul. The organizations that show the strength of character now will reap the rewards of a strong brand and trust when times improve .......