Can your brand benefit from uncertainty?

The principle of uncertainty seems to automatically assumed to be a business problem, yet uncertainty can create the environment for business opportunities.

UncertaintyUncertainty about economic outlook, uncertainty about marketing trends or consumer confidence can lead to brands defending their position.

When we are unsure human nature looks for security and protection. But here is my problem…standing still with business ideas will mean falling behind the market…so defending is actually self defeating.

Uncertainty is all around but uncertainty should not mean 

  • Stop doing things but maybe doing them differently.
  • Using budget pressure as an opportunity to do things better for less investment. Creativity can flourish when budgets are tight.
  • Can you use the uncertainty as part of your brand narrative? Can you link into the emotional need of your consumers caused by the uncertainty.
  • It is a chance to reflect on whether you have drifted from your business vision – so often the case – and refocus on the brand essence, core values and purpose of your business.
  • It is a chance to ensure that managers are not taking the easy way of "motivating employees" through pay……yes, pay has to be competitive but motivation needs to come through team engagement.
  • During any uncertainty, parts of the market will succeed – look at your outliers, look at the edges of your market to see who is succeeding.
  • In times of uncertainty, employees and consumers need hope…and hope is deliverable through engaging communication….and showing how you as a leader or you as a brand can give those people hope is free…..you may sell products or services, but in some way all of us sell hope…what is the hope that you can give?

Uncertainty can lead to good growth when you change the mindset from defending against what might happen to focusing on the marketing, business opportunities that uncertainty brings….

Do you embrace uncertainty or do you fear it…uncertainty smells fear and yet itself fears you embracing it…

Author:
Anna has spent over 20 years as a Board Director at several global brands. She now runs her own company The Engaging Brand which supports business leaders who want to transition to the new social business model. She is also a speaker, writer and radio show presenter on social business, indeed her podcast The Engaging Brand has been nominated 6 years running as Best Business Podcast at the Podcast Awards. She brings an unusual mix of experience to business - she has a 1st Class Law Degree, MBA in marketing and is a qualified Chartered Accountant. This unusual mix means not just explaining the why of being social but how to turn social into a measurable business tactic to grow your bottom line. Her blog www.theengagingbrand.com is recognised as one of the leading UK marketing blogs.

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