While the majority of companies in today's unpredictable market conditions will do anything to shield themselves from looming threats, innovation expert keynote speaker Jeremy Gutsche suggests that crisis creates new opportunities and possibilities for brands.
In his award-winning book, 'Exploiting Chaos: 150 Ways to Spark Innovation During Times of Change,' he discusses how crisis forces brands to stop and reevaluate their current strategies. Crisis provides brands with the window to change the way they do things and become more competitive.
He shares the story of cereal brand Kellogg to illustrate how success can be found during a slow economy. The dominating brand at the time that was Post became stagnant during the Great Depression, creating new space for competitors.
"As the managers of Post reclined in their rawhide chairs, bracing for a slow economy, a hungry tiger lurked in the shadows. That tiger was the Kellogg Company. Their mascot, Tony the Tiger, had not yet appeared, but this insatiable spirit was already born.
While Post retreated, Kellogg doubled their ad spend. In 1933, their campaigns introduced slogans like "Snap! Crackle! Pop!" and "You'll feel better": motivational mantras during a gloomy era. The investment paid off. Americans loved the message and sales began to grow. Kellogg's became the go-to pick for breakfast cereal and your friend-grandfather abandoned his beloved Post Grape-Nuts."
When brands become stagnant and complacent because of crisis or a slow economy, it opens up the playing field for new players to step up to the plate. Download a FREE copy of Jeremy Gutsche's 'Exploiting Chaos' here for more tips on fueling innovation.
Innovation Expert Keynote Speaker Jeremy Gutsche on the Pros of Crisis
1. Crisis Creates Opportunities - Crisis can create windows of opportunity to reevaluate strategies and become more competitive.
2. Increased Ad Spend During Economic Slowdowns - Brands can increase ad spends during slow economies to increase visibility and market share.
3. Motivational Campaigns During Gloomy Eras - Motivational campaigns and marketing during tough times can resonate with consumers and increase brand loyalty.
1. Marketing and Advertising - Brands can explore advertising strategies that increase visibility and traffic during economic slowdowns.
2. Food and Beverage - Food and beverage companies can innovate during recessions to create captivating campaigns that increase brand loyalty.
3. Financial Services - Financial services companies can stay disruptive and competitive by creating innovative products that capture market share during tough economic conditions.