Holistic brand management is the new marketing

Breaking down the silos

Ferragamo recently reported first half sales decline

To save money, companies often pause, de-fund, or reduce in scope their marketing activities. When the cash is tight, a company’s marketing budget is usually the first to go. It’s pure economics: If consumers are not spending money on products and services, there is little point to invest in marketing them.

It’s also wrong.

If there was ever a time when a company needs marketing, it is when the sales are low.

How much a brand invests in maintaining the relationship with its customers defines its long-term success. But this approach requires a strategic shift in how a brand thinks about its marketing actions: from creating demand for their products and services, to keeping the relationship with their customers. Otherwise, marketers are in danger of losing the connection with their customers.

Read the rest of this analysis on The Sociology of Business