Will your brand survive or thrive the recession?

This has been a tough year for consumers and marketers alike. Amidst rising prices, job layoffs and an uncertain (at best) economy, consumers have tightened their belts and postponed spending on non-essentials. Even luxury purchases, which were seemingly recession-proof, have taken big hits as their customers took similarly big hits as the market tanked and they watched their assets shrink.

Marketers, too, have become more lean in the past year. They’ve trimmed the fat wherever possible and figured out ways to do more with less.

Although economists don’t agree on when and how quickly we’ll crawl out of this recession, there are indications that at least some aspects of the economy are improving. But recovery won’t come quickly.

In the meantime, the question marketers should be asking themselves is whether they intend to just survive the recession or whether they will position themselves to thrive when it’s over. The answer to that question – and how they manage in the coming months – will have a direct impact on what their business will look like when the recession is over.

Smart marketers will remember lessons learned from previous recessions: keeping focus on brand building will pay off in the long run. Forward-thinking brands will use their time and resources to build brand loyalty – not in terms of increased consumer spend – but in the raw terms of true loyalty – so that when brighter times arrive, their brand will be healthy and relevant, and poised to take advantage of what is sure to be a more favorable economic environment.