Why Your Story Shouldn't Be What Gets Cut

It's a key factor that separates brands into winners and losers during tough financial times

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Economists and consumers agree: We’re in a recession, and brands are, understandably, nervous.

Nervous about what’s next, sure, but also what it means for their bottom line. To better recession-proof their businesses, some are increasing prices. Others are cutting spending, pouring over their books with a fine-tooth comb. And while avoiding tight margins is crucial, brands should be wary of abandoning what makes their products stand out: The Story.

Take the altogether “nonessential” products that at least historically happen to be recession-proof, like luxury accessories, streaming services and pet products. How can your brand ensure yours is one of them?

Standing out in the crowded marketplace

First and foremost, give consumers a reason to choose you above your competition. Then tell them your story for a lasting impression. Have that story live somewhere people will continue to find it over and over again. That’s good PR at its core.

After all, diversifying your marketing spend is the North Star of marketers everywhere. Depending on your goals, there’s ample reason to invest in paid and earned media as well as celebrity and influencer relations.

But right now, brands have to examine their budgets. They’re reassessing where to invest to see the greatest ROI during a pinched year, and every offering on the à la carte menu may not be an option.

However, from a sales perspective, a recession is actually an ideal time to stand out as a leader in the crowded marketplace and tell the story of why your brand matters. Historically, recessions make winners and losers out of businesses. And the winners are not the companies that sat back and hoped they would continue being purchased.

During the Great Recession of 2008, for example, Warby Parker leveraged their messaging that the eyewear industry was broken and that consumers needed a more seamless, cost-effective option. The company soared and cemented itself as an ecommerce leader with an unparalleled brand innovation story. Now is the time to figure out your own version of that story and communicate with consumers about why you need to be part of their essential list.

Meaningful connections the consumer will revisit

Inundated with options, and with fewer resources to finance them, consumers are going to be more precious about where and how they spend their money. If you need to replace your mattress but are feeling light in the wallet, you’re going to spend some serious time on Google making sure you’re making a sound investment. The high-SEO reviews that live on the likes of Wirecutter and The Strategist are read over and over for months and often years to come. Those reviews will be the final decision-makers for many.

And as a brand founder yourself, you also want your story to live somewhere that can be found easily and repeatedly. Consumers like to buy from people, not brands, and they become repeat customers when they feel a connection.

Non-alcoholic apéritif brand Ghia, for example, is one “nonessential” product that no one truly “needs.” But out of deep storytelling, founder Mélanie Masarin’s sobriety has resonated with millions and made her brand a “nonnegotiable” on countless bar carts, amid a recession or not.

PR isn’t the only vehicle to drive sales during an economic crunch. It’s just that brands have to be smart about their diversification. Is that swipe-up to buy from an influencer driving meaningful top-of-funnel conversions or just quick clicks?

There are incredible influencer agencies that are moving the needle in unique and innovative ways, but it’s crucial to not just throw products at creators and hope for a meaningful impact. Influencers can be a profitable vehicle for discovery, but when someone turns to Google for that design-forward couch or eco-friendly snack, where will your brand be found?

In the end, diverse spending is still the key. That’s not changing. But for those who know they have to cut somewhere, don’t cut your story out of the equation.