Friday, 26 June 2009

What's A Brand To Do? Define And Remind –26/6/09

We have said it before at the MO Down, but it is crucial to ‘know your customer’. Okay, we admit this can be a trite comment, often heard, repeated and acknowledged, but how can we stop this key factor form going in one ear and out the other? We can’t – it’s up to you to enforce this rule and stop saying one thing and doing another.

As the economic crisis worsens and disposable dollars shrink the pot of available consumer funds, there are many measures that businesses can take to ensure their brand stays on top. Standing out from the crowd, defining and promoting the brand, and exceptional customer service will ensure positive PR and benefits from the power of word of mouth.

It is also essential for brands to consistently convey the sincere message to their customers that ‘they are important’ and then do everything in their power to prove this fact.

When times are tough, you need your loyal support base. If you manage this successfully – and no, it won’t be instant – you will slowly build or reinforce existing foundations. Your business will be steady, focused and ready to maximize future success when the cycle turns. And it will, as it always does.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,