What do Domino’s, The Body Shop and Amazon have in common?

A recession busting spirit

            … and a good dose of marketing innovation

An economic recession is obviously a difficult time for all. Most of us will simply be trying to hang on in there until times are less turbulent. However, there are some broad shouldered companies with a spark of entrepreneurial excellence that show the rest of us that it is actually possible to not only survive but thrive during the downturn.

When funds are tight, cuts across the board are clearly essential. We all need to be A) sensible and B) realistic but O2’s recent survey of long-established, recession surviving companies, tells us that we should be careful where the snips are made. The feedback was unanimous that a careful attention to cashflow is key. An appreciation of customer loyalty and a determined attitude are also important. But perhaps the most surprising advice was to dedicate time and resources to good marketing campaigns. “In an increasingly competitive arena, customers need to hear about your product so maintaining marketing spend is a must.” Source; telegraph

Domino’s Pizza provides a good example of how to make a market u-turn. In 2009, the world’s largest pizza chain launched an international campaign to overhaul their recipes, inviting consumer feedback via their website and through social media. It was a brave mood when the $33.5 billion industry was badly suffering in response to the recession, hampered further by some especially bad YouTube publicity – but it paid off! Domino's Pizza is now widely acknowledged as the global pizza delivery giant with a revenue of over $389.2 million.

Dame Anita Roddick has become an icon of entrepreneurial strength having developed the The Body Shop brand throughout the years of the 1980’s recession and even managing to take it public in 1984 (when so many other companies were still licking their wounds from drastic economics). And she achieved it with a good dose of cunning (the green brand colour being a strategic choice as it acted as a good camouflage to the mouldy walls of the aging premises) combined with innovative marketing choices. Anita “self-financed” new shops with her identifiable logo in a time when everyone else was shutting down. And she actively promoted an idea that was not only fresh, but fitting for the newly environmentally-aware times. "A two-for-one sale no other cosmetic company could ever hope to match: buy a bottle of 'natural' lotion and get social justice for free," says Anita.

And, hark still those remaining cynics because it is possible to achieve these marketing heights in today’s competitive world. Jeff Bezos founded Amazon in 1994, and has grown from an online bookstore to become the largest online shop in the world. They have survived the .com bubble bursting and now prosper where others are falling foul. In part their recent success can be attributed to the Amazon kindle which has also been supported by an array of press activity and creative adverts (just google it and you’ll be overwhelmed with YouTube options). The result of all this hard work? Amazon remains number 1 of the eBook market with 41.5% (1.14m).

"There are two ways to extend a business. Take inventory of what you're good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills. Kindle is an example of working backward." says Jeff, also adding "What's dangerous is not to evolve".

Pudding Creative knows that to succeed in any market you must possess a fine share of energy, creativity and individuality. Please contact us to learn more about how our branded designs and presentations can help you to climb the market ladder.
 www.facebook.com/puddingcreative