Why brand will help with inflationary pressures
Inflationary pressures will impact everyone and all businesses, we discuss why a focus on brand for businesses can help ease those pressures.
Branding Before Breakfast Ep 105 Why brand will help with inflationary pressures
Good morning. Today, I would like to talk about the inflationary pressures that are coming to all businesses and why I believe that branding is the answer to solve those pressures.
Yesterday, I was talking to the incredibly smart, Jonathan Coles at Choice to Growth. And he spoke about the fact that those businesses that are going to succeed are the ones that can reinvest into brand positioning. And why does that matter? When we start to be an environment where inflationary pressures come into cost of goods, cost of services, and you need to raise your prices, you have to make sure that you have a connection with your most desired consumer that has nothing to do with a price point. You need to ensure that they really understand everything that you stand for. Why you do what you do, what true value you offer to their everyday. And when you’ve been able to make that connection, and you have the appropriate brand positioning, that can sustain and increase in price, then you will not fall prey to those inflationary pressures.
Today, I would like you to have a think about where your brand is positioned. Is this some work that you need to do around making that really strong connection with your most desired consumer. Is it positioned appropriately, that it can sustain a price increase and still succeed in the market?
All right, that’s it from me. It’s time for brekkie.
Written by: Jo Whelan
Published: April 20, 2022