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How can you build brand equity and loyalty in a recession?

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A recession can be a challenging time for any business, especially for franchisors and franchisees who rely on a strong and consistent brand image to attract and retain customers. However, a recession can also be an opportunity to build brand equity and loyalty by focusing on your core values, delivering exceptional customer service, communicating effectively, innovating your offerings, and rewarding your loyal customers. In this article, we will explore how you can apply these strategies to your franchise business and emerge stronger from the economic downturn.

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Emmanuel JURY

Expert Réseaux Organisés FFF, FCA et Immobilier CEIF , membre réseau Entreprendre et Croissance Plus

1 Align with your core values

One of the most important factors that influence brand equity and loyalty is how well your brand aligns with your customers' values, needs, and expectations. In a recession, customers are more likely to seek brands that offer value, quality, and trustworthiness. Therefore, you need to ensure that your franchise business reflects your core values and delivers on your brand promise. You can do this by revisiting your mission, vision, and goals, and making sure that they are consistent across all your franchise locations. You can also use your values to guide your decision-making, marketing, and operations, and to showcase your social responsibility and community involvement.

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Emmanuel JURY

Expert Réseaux Organisés FFF, FCA et Immobilier CEIF , membre réseau Entreprendre et Croissance Plus
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L'erreur fatale est de réagir "à chaud" , sans stratégie réelle si ce n'est d'être en réaction ! Il faut garder les valeurs de la marque même si elles ne paient pas en monnaie sonnante et trébuchante et prendre beaucoup de recul. Il y a toujours une solution à tout.

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Humberto Linhares Soares

CFO on Demand - Promovendo a Otimiza??o dos Controles Financeiros nas Empresas
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Muito complicado trabalhar em épocas de recess?o, mas depois de um bom tempo na estrada você percebem que momentos ruins v?o acontecer. E quando vierem, parta para o ataque! Inove! Pense fora da caixa! Algumas estratégias adicionais além de se alinhar com seus valores fundamentais podem ser: Adapte-se às Mudan?as no Comportamento do Consumidor, Comunique-se de Forma Transparente e Autêntica, Mantenha o Foco na Experiência do Cliente, Crie Parcerias Estratégicas, Foque na Inova??o e Monitore e Ajuste Estratégias Regularmente

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Lucas Atanázio Vetorasso

CEO do GRUPO ATNZO
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Uma recess?o pode ser uma oportunidade para fortalecer o patrim?nio de sua marca. Mantenha o foco na miss?o, vis?o e valores da sua franquia, assegurando que todas as a??es estejam alinhadas com o que sua marca representa. Investir em marketing digital pode ser uma forma eficaz de manter sua marca na mente dos consumidores, mesmo quando eles est?o reduzindo gastos. Conteúdos de qualidade, presen?a nas redes sociais e uma postura empática e solidária podem refor?ar positivamente a imagem da marca. Lembre-se, marcas que conseguem manter uma conex?o emocional com seus clientes durante tempos difíceis s?o mais propensas a desfrutar de uma lealdade duradoura.

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Anais Bourgeon

Design d'espace \ Architecture commerciale \ Design Global \ Stratégie - H?tellerie \ Restauration \ Retail \ Concept store. Je con?ois et conceptualise vos espaces professionnels pour votre développement en franchise
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En complément, je dirais qu'il est important que le client en entrant dans votre local ressente vos valeurs et votre identité. Il ne faut pas sous-estimer la valeur du design dans ce cas là ! C'est ce qui va permettre d'avoir cette touche en plus pour se différencier. Pas besoin de trop en faire, on ne veut pas que tous les espaces ressemblent au mama shelter, quelques petites touches suffisent souvent !

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Kevin Lacey

General Manager - Network Development @ San Churro | MBA, 2xTop 30 Franchise Executive, Retail Innovators Award Finalist - Inspiring Leader
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When everything feels shaky, your core values are your North Star. Double down on what makes your brand tick. Are you about the community? Show up for yours. Do you champion sustainability? Make it a recession-proof selling point. People crave authenticity, especially in uncertain times. Be the brand that walks its talk, not just talks the talk.

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2 Deliver exceptional customer service

Another key factor that affects brand equity and loyalty is how well you treat your customers and how satisfied they are with your products or services. In a recession, customers are more likely to be price-sensitive, selective, and demanding, so you need to go the extra mile to make them feel valued and appreciated. You can do this by providing personalized, responsive, and courteous customer service, by exceeding their expectations, and by resolving any issues or complaints quickly and effectively. You can also use customer feedback to improve your offerings and to identify areas of improvement.

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Emmanuel JURY

Expert Réseaux Organisés FFF, FCA et Immobilier CEIF , membre réseau Entreprendre et Croissance Plus
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Encore beaucoup d'énergie à mettre sur la table ! Il va falloir se battre plus , ne pas se laisser aller . Rien de personnel c'est juste qu'en période de récession, les clients veulent de la qualité, un service impeccable et le payer le moins cher possible.

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Humberto Linhares Soares

CFO on Demand - Promovendo a Otimiza??o dos Controles Financeiros nas Empresas
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é FUNDAMENTAL, durante uma recess?o, oferecer um servi?o ao cliente excepcional para construir a lealdade e o patrim?nio da marca, já que os consumidores se tornam mais sensíveis a pre?os e mais seletivos. Para destacar-se, concentre-se em personaliza??o e eficiência. Personalize as intera??es para mostrar aos clientes que eles s?o valorizados individualmente, e responda rapidamente às suas preocupa??es para transformar experiências negativas em positivas. Resolu??o de problemas e empatia, e utilize feedback dos clientes como um meio de melhoria contínua. Além disso, exceda as expectativas sempre que possível, seja com pequenos gestos ou suporte adicional que enrique?a a experiência do cliente.

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Kevin Lacey

General Manager - Network Development @ San Churro | MBA, 2xTop 30 Franchise Executive, Retail Innovators Award Finalist - Inspiring Leader
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Forget "good" customer service. Aim for legendary. Train your team to be empathy ninjas, understanding that wallets are tighter and anxieties higher. Turn every interaction into a moment of genuine care. A handwritten note, a surprise discount, or simply going the extra mile – these gestures build bridges when budgets shrink.

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3 Communicate effectively

Communication is essential for building and maintaining brand equity and loyalty, especially in times of uncertainty and change. You need to communicate with your customers regularly, clearly, and honestly, and to keep them informed about your business situation, your plans, and your actions. You can use various channels, such as email, social media, website, blog, or newsletter, to share your updates, news, tips, or promotions. You can also use communication to educate your customers about your brand values, benefits, and differentiators, and to create a dialogue with them. You can also communicate with your franchisees, suppliers, and partners, and to foster collaboration and support among them.

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Emmanuel JURY

Expert Réseaux Organisés FFF, FCA et Immobilier CEIF , membre réseau Entreprendre et Croissance Plus
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Soyez transparents et honnêtes dans votre "comm" , les clients ne sont pas dupes et éduquez-les à vorte fonctionnement, valeurs et vos plus . Il faudra aussi mesurer l'efficacité de vos actions de communication et voir si les objectifs sont bien remplis .

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Kevin Lacey

General Manager - Network Development @ San Churro | MBA, 2xTop 30 Franchise Executive, Retail Innovators Award Finalist - Inspiring Leader
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Don't go radio silent. Talk to your customers, but talk like a friend, not a salesperson. Acknowledge the economic realities, but focus on how your brand can be a part of the solution. Share stories of resilience, highlight value offers, and be transparent about any changes. Remember, communication builds trust, and trust is the ultimate loyalty currency.

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4 Innovate your offerings

Innovation is another way to build brand equity and loyalty in a recession, as it shows your customers that you are adaptable, creative, and forward-thinking. You can innovate your offerings by introducing new or improved products or services, by adding new features or benefits, or by creating new solutions for your customers' problems or needs. You can also innovate your delivery methods, such as offering online ordering, delivery, or pickup options, or by creating new experiences, such as virtual events, webinars, or podcasts. You can also use innovation to reduce your costs, increase your efficiency, or enhance your quality.

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Humberto Linhares Soares

CFO on Demand - Promovendo a Otimiza??o dos Controles Financeiros nas Empresas
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A inova??o durante uma recess?o é uma estratégia eficaz para construir o valor da marca e a lealdade do cliente. Ela demonstra que sua empresa é resiliente, adaptável e comprometida em atender às necessidades em constante mudan?a do mercado.

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Kevin Lacey

General Manager - Network Development @ San Churro | MBA, 2xTop 30 Franchise Executive, Retail Innovators Award Finalist - Inspiring Leader
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When everyone's tightening their belts, be the brand that breaks the mould. Introduce limited-edition recession-friendly offerings, explore new delivery channels or partner with local businesses for cross-promotions. Show your customers you're nimble, adaptable, and always looking for ways to make their lives a little easier.

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5 Reward your loyal customers

Finally, one of the best ways to build brand equity and loyalty in a recession is to reward your loyal customers and to show them that you appreciate their business and support. You can reward your loyal customers by offering them discounts, coupons, freebies, or loyalty programs, or by giving them exclusive access, privileges, or perks. You can also reward them by recognizing them, thanking them, or featuring them on your platforms, or by asking them for referrals, testimonials, or reviews. You can also reward them by creating a sense of community, belonging, and engagement among them, and by inviting them to participate in your activities, events, or campaigns.

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Kevin Lacey

General Manager - Network Development @ San Churro | MBA, 2xTop 30 Franchise Executive, Retail Innovators Award Finalist - Inspiring Leader
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Your existing customers are your goldmine. Show them they're valued with loyalty programs that go beyond just points. Exclusive discounts, early access to new products, or personalised experiences – make them feel like part of the inner circle. Remember, acquiring a new customer costs five times more than keeping an existing one. Invest in loyalty, and it'll invest right back in you.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you build brand equity and loyalty in a recession?

1

2

3

4

5

6

1 Align with your core values

2 Deliver exceptional customer service

3 Communicate effectively

4 Innovate your offerings

5 Reward your loyal customers

6 Here’s what else to consider

Franchising

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How can you build brand equity and loyalty in a recession?

1

2

3

4

5

6

1 Align with your core values

2 Deliver exceptional customer service

3 Communicate effectively

4 Innovate your offerings

5 Reward your loyal customers

6 Here’s what else to consider

Franchising

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