During recessions reputation has more sway than marketing. Buyers want trust and credibility — they need to know they are buying from sound businesses that can and will survive the lean times. PR is how you build trust, credibility — earned, third-party validation matters more than ever. Continuous communication is critical. Your competitors may go quiet — this is your opportunity to gain ground and market share. This is an opportunity for brands to build communities via organic social. Agencies will be more needed than ever, brands will need to outsource additional headcount. People connect to stories - provide examples of companies that were either born or underwent growth (outpaced a competitor) during a recession. Pepper these throughout the conversation. More mature companies have to consider their whole stakeholder ecosystem - a lot of audiences often with conflicting interests, esp during a recession - investors vs employees re: layoffs. Speaking authenticity while also addressing the concerns of each stakeholder is a crucial role that comms can help with. PRWeek.com

Theme music provided by TRIPLE SCOOP MUSIC

Jaymes - First One

 

Follow us: @PRWeekUS

Receive the latest industry news, insights, and special reports. Start

Your Free 1-Month Trial Subscription To PRWeek

Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

for information about our collection and use of personal data for

advertising.