Pumping up the tyres of the recession

People typically reveal themselves when under pressure.

The recession is putting a good many businesses under a fair amount of pressure. I, for one, think that can only be a good thing, but it is enlightening to see how differently the reactions range.

Take financial institutions.

Most have simply screeched to a halt, blinded in the headlights of the oncoming issues. This generation of bankers haven’t really had to make tough calls before about their futures before because all roads seemed to be paved with gold and it was simply a question of degrees of success. And when it came to their brands, as long as the business card was embossed with gold leaf on a weighty stock, none of them really cared. If they happen to have pulled over carefully to the side of the road, they might be able to avoid scrutiny, but if they find themselves at a busy crossroads, it’s likely they’ll get caught in the pile-up.

Many have taken a more dogmatic view. Hunkering down in the comfort of their most recent bonus, they are simply hoping that it will all go away before they have to change their habits. The machine is still full steam ahead, but no one is particularly keen to take the wheel, or even look over the dashboard. And if they do crash, there is a clear belief that the combination of size and sheer momentum will carry their brand through to the other side with only some minor abrasions and maybe a slow puncture.

There are a few that have decided to trade their vehicle, as it were, for a slightly different model. Maybe it’s a different colour, or maybe it’s a more substantial change like smaller engine capacity or lighter fuel consumption. Whatever the difference, they’re trying valiantly to tune their brand to the times without necessarily going so far as to forego it altogether for a completely different vehicle. It’s a sensible strategy, at least for the fact that it’s a little more considered.

And finally, they’re a small number that have decided that to put their foot down and either ram their competitors off the road or car­–jack them at the next set of lights. It’s not pretty, but it’s basic marketing instinct for those who want their brand to prosper not just survive.

But it’s not just financial institutions that find themselves driving their brand manually when they have only ever cruised along in automatic. The recession has hit everyone in different ways. From FMCG to fashion, cars to airline carriers.

That said, a recession doesn’t simply have to be about going backwards, quite literally receding. There are as many advantages as there are disadvantages to be gained by choosing to go forward, even if it may require a small sideways step to get you started.

You might need a push from some friends, maybe a jump–start from an unexpected passer–by, or there might even be a free tank of fuel in a competitor’s abandoned brand.

Anyway, I promise that’s the first and last time I’ll write about the recession. I find them incredibly tedious affairs as everyone (1) gets incredibly anxious at the slightest twinge, and then (2) feels the need to talk about the importance of investing in a downturn with the same fervent passion as a man who has just discovered crack cocaine and is absolutely certain that no one will ever get this high again.

That’s it. No more recession talk. I promise. (Except for a presentation to a client next week – their idea, not mine.)