The most valuable intangible asset of a company is its brand which also maintains and bears its reputation. If for some reason, your competitors do not spend their budget on any promotional merchandise, they are only compromising their own brand identity and this is when you must demonstrate through this form of media your gratitude to your customers for their support. It is very important in a stagnating economy to at least maintain your market share, since new business would be difficult to procure. When you maintain your brand equity and market share in troubled times, as and when the good times come along, your target audience would immediately favour you with business as your brand name would still remain fresh in their minds thanks to some of the promotional campaigns run during the tough times. The worst thing to happen in business is, everything is hunky dory, but your brand name has been forgotten.
In fact during economy slowdown times, you must do all the more in terms of brand building and indulge in promotional activities. You will have more time to focus on such activities and do it more professionally. It may seem a paradox that you are indulging in business promotion when business itself is floundering, but that is the precise reason for its success and effectiveness. You need to do something different from others and will be noticed for it, lending your brand the uniqueness and exclusivity. At times of recession, you need to keep in touch with the top honchos of your customers and honour them with carefully chosen promotional merchandise. It may happen that some of them might get retrenched and would start off on their own and you need to be at the forefront to be considered favourably by them when they are looking for vendors in their new avatar. So, by concentrating on fine tuning promotional campaigns and taking the time to meet influential decision makers during the rough times, you are actually investing your time and effort to reap the fruits, when the good times return and by doing this, you will be putting yourself in a sound position to cash in when things start looking good again. The fact that you recognized the true value of distributing promotional merchandise and the suitable timing of this will ensure that your competitors will have a lot to catch up and it won’t be easy to grab your customers.
So make the best of even the recessionary times by choosing suitable and useful promotional merchandise and getting your message out to the right people. You will not regret it.