Blog >> Ready steady go - branding in a credit crunch

09 Jan 09 / 10:49 / Joe Hedges

CATEGORIES: Advertising / Branding / Design / Trends /

Ready steady go - branding in a credit crunch

I will start with saying that this is just my humble opinion, and humble it is. But it is an opinion and even a little on the optimistic side.

Last year, well the end of last year, was tough; bank shares not just crumbling but imploding,,, disintegrating and settling into the earth like dust from the auditors year book. But guess what, I have an opinion, "its good news for branding and design communications companies!" well at least for the SME's of the creative world. You see the way I'm seeing it (sorry, just putting my 'rose tinted' glasses on) is like this. Every day for the last 3 months, some large organisation has disappeared, leaving a gaping hole of opportunity for smarter, nimbler and more 'brand' conscious companies, after-all, if the need is there, opportunity will plug the gap.

Of course, this 'theory' all depends on what's to happen in the next 9 months, but with the Bank of England reducing its base rate to 1.5%, VAT cuts (well, kind of) and now the possibility of 'printing' money, things may with luck start to stabilise, which will give entrepreneurs the confidence to invest. Voila! lots of smaller brands coming on to the market.

Of course, although this would be great for some, it wont be good for everyone, larger branding companies may need to re think how they operate as fees will probably drop (on avrg.) but there will probably be more projects about. What i believe will be happening right now, and it isn't rocket science, is companies will be reducing their marketing spend but pushing it harder, hoping to maintain results while making cost savings. This will mean marketing departments will be looking for value for money. So if branding consultancies/agencies offer a professional, thought through, process led solution but with creative difference, they could be getting busy right now.

Sorry got to go, phones getting busy!!

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