We’ve been through this before.
In these weeks I haven’t posted anything, I haven’t written judgments, I didn’t want to go into what an epidemic or pandemic is (I’m not an epidemiologist), I haven’t talked about what people should or shouldn’t do. I’m a marketing man, and I’ve seen it all before. We all have seen this before. In 2009, in Italy. Yes, because, at that time, the real estate crisis that started in the United States generated a recession that then gradually took on a global character, driven by financial contagion mechanisms, and it reached Italy. I remember it well because I founded my agency in that year.
The entrepreneur, now as then, is worried: clients freeze orders; area managers can’t travel; how do I display the new products that cost me research, development, production, etc.? Should I continue to invest?
It is precisely these dilemmas that will block the economy: “The economic crisis is a state of mind, it is a viral thought that blocks people in their consumption. If we look at crises through the eyes of neuromarketing one of the causes is cognitive bias, i.e. a judgment or prejudice, which does not necessarily correspond to the evidence. Cognitive bias is often used to make decisions quickly and effortlessly.
So let’s try to make well-read decisions keeping into consideration what we have learned over the last ten years:
- Lucidity – The companies that have survived the last recession are those that have not panicked and have continued to invest and grow. Those who eased up, those who cut too much, did not make it.
- Planning – Use this moment to think about making changes to your business. Try to make a “business model canvas” of your company situation and try to change some parameters thinking, with a clear mind, about a new business model for the future. Audentes Fortuna Iuvat.
- Branding – The brand is the most important thing, it survives wars and crises. This is a great time to emerge, to tell what your company is, what values it has and “make it memorable”. When everything will end, you will have huge advantages over your competitors.
- Last but not least – Never forget who you are, your daily commitment, the sacrifices to run a company and the people who are part of it. If you don’t give up, you will overcome this too.
Francesco Gobbato, CEO of KF ADV
Born in 1986, he founded KF ADV in 2009. It promotes the achievement of objectives while maintaining the focus on the value of people. He believes in the Human to Human philosophy, an integral part of the company mission.