Be A Salmon During Re-Branding

With the impending downturn of the global economy, how will you be re-branding yourself? How would you redefine your business, your profession and yourself?

In negotiations, will you continue to negotiate downwards instead of upwards? The contemporary approach would be slide down and meet the client in the perceived ‘middle’. What about the other way around? Can’t we lead the client to a higher price point? If you provide high actual and perceived value, then pricing becomes less of an issue.

In other words, would you buck the trend and defy gravity, challenging the rapids like salmon fish are wont to do. Their naturally strong homing instinct lead them back to the exact place where they were born to spawn. Returning to one’s roots can be a useful exercise in resilience, perseverance, and determination. Most salmon are born in fresh water, move to the sea, then return to fresh water.

The principles of marketing are Price, Place, Product and Promotion (Philip Kotler). To this, I add Positioning and Purpose. What is the relevance and purpose of your business? Which need does it fill? How is your business positioned?

According to Forbes Magazine’s, one of the top-earning musical entertainers of 2010 was the eccentric/eclectic Lady Gaga (just behind Beyonce). These are the marketing strategies of Lady Gaga. Go mainstream or stream off?

Do you wish to up-scale or down-scale? Become bigger, or play it down? Down-sizing is the favourite strategy of mega-corporations and even Small & Medium-Sized Enterprises (SMEs). When the market is flooded with available, skillful and experienced staff – wouldn’t this be the best time to hire? Instead of slowing down your business rate, generate more power and momentum in your selling and marketing. Go for expansion instead of reduction. Be dynamic instead of static. Be uncomfortable, not comfortable.

Swim upstream!