Elvira Gavrilova is a co-owner and the CEO EU of the international advertising company Amillidius; she is also a marketing expert and PR producer, a specialist in personal brand promotion, and the Chief Editor of the business-gloss Financoff. By the age of 30, Elvira has built a successful career, become a founder of one of the most prestigious Ukrainian awards “Pride and Beauty of Ukraine” and other remarkable projects. Her achievements have many times been observed on mass media, including such top business publishing as Forbes.

Today, Elvira Gavrilova lives and works in Portugal, and she has first-hand knowledge about the challenges, faced not only by Ukrainian but the European business as a whole. As the head of the European branch of the advertising company, she has many times advised her customers on the issues of building their marketing strategy. Elvira is absolutely sure that the unstable economy is not an excuse to put the business on hold. Nothing good will come of the stand-by mode – it is the way to the bankruptcy. What is necessary is to take actions and, first of all, to reform the company’s marketing strategy. It is high time reconsidering an approach to the brand and the interaction with the consumer and to master new technologies and forms of business activity.

Here are some tips from Elvira Gavrilova on the steps to be taken in the first place to navigate through the crisis as safely as possible and to save the customers and reputation of a trustworthy company – and not to suffer from the losses at the same time.

Elvira Gavrilova: how to survive during the recession

Digital transformation of the business and going on-line

The company can reduce its costs switching some processes in the on-line mode. Today, it is not just a trend, it is a compelling need. And accelerated development of the Internet-technologies facilitates such transition greatly. Of course, not every kind of activity can be carried out remotely, however, at least some functions should be moved to the Internet with the parallel development of the company off-line.

Such transition puts digital technologies in the spotlight – and it relates to the marketing a great deal. Thanks to the digital marketing tools, you can broadcast the information about your brand to the thousands or even millions of consumers instantly. The enhanced potential of digital marketing will help your business to adapt quickly to ever-changing customers’ demands. These are strategic marketing investments.

The correction of brand image and line of the products

What should be taken into consideration is that the crisis changes the priorities and preferences of your customers. This is the reason why you should reconsider the goals of your brand and determine new ways of their fulfilment. It is time to correct your value propositions: they have to be relevant and resonate with the target audience. It is necessary to carefully analyse the demands of the consumers of your goods and services. And adapting the line of your products or creating a brand new one to meet this changing demand is an answer. To discover what may be useful for your customers at this very moment, you need a close communication with your target audience.

Closer emotional bond with the target audience

For the companies, the scale of the economy’s shrinking should be inversely proportional to the scale of their communication development. This also relates to the building up the relationship inside of the company and, what is particularly important, the dialogue with the prospects. You should provide your customers with more information and give it to them more frequently. And at the top of that, to listen to your target audience. In the hard times, like never before, the customers need to feel this two-sided connection with the company, to be engaged in the process.

During the recession, many more threats to the brand reputation on the Internet and social media emerge, as this is the period when people are disoriented and annoyed. It is a must to pay maximum attention to enhancing the reputation and for this purpose, to involve all the resources you have, both material and human.

Creating a crisis management team

A crisis management team, which will include the representatives of different Company’s departments, may become one of such resources. This team will aim to develop a general crisis response strategy. While its cooperation with your marketing agency will help you analyse the sources of promotion, to find out what makes a profit and what gobbles it. As a result, you will, first of all, adjust your marketing strategy to save your profit. Second of all, you will be able to efficiently introduce the anti-crisis programme the market experts developed. And third, this will boost the idea generation for further promotion.

Elvira Gavrilova: Marketing in crisis – testing the limits

Staff training

Amid crisis, staff training should become the Company’s focus. New conditions ask for new approaches and solutions. And, respectively, there is a demand for the better-qualified staff who would adapt quickly to the changing environment.

According to the research, over recent years, the companies spend at least 4-5% of their marketing budget for training. Amid the crisis, it is high time increasing these costs. By the way, at Amillidius, we believe it is our mission to disseminate marketing knowledge in the business community. We give our customers a chance to improve their level at the free seminars we hold at our offices.

A stronger relationship with the agencies as key partners

Even if you have to cut the budget for advertising and promotion, I strongly advise you against terminating the contract with the marketing agencies. On the contrary, you should make this connection stronger, aiming at the conditions which will be ultimately profitable for both parties.

According to the statistics, the brands which maintained their advertising during the recession, came over it much better. Back in the 1970s, the association of specialized business publications American Business Press carried out the research which revealed that the companies who kept contributing their money into the marketing during crises, increased their sales both during the crises and in the following years. The very recent data from Kantar (a market research agency) show that the no marketing costs in the budget during the crisis may lead to a 13% drop in sales. Meanwhile, even half of the initial marketing budget will lead to only a 1% decrease.

You can make your own conclusions. And remember that fast and competent adjustment of your marketing strategies will become a key to success and will keep your business afloat amid the crisis.