Since 2014, the turnover in Ukraine has fallen, indicators have decreased by 10%, which in financial terms is about 900 billion hryvnia. And in 2015, the indicators fell to a critical point, the decline was 20% when compared with 2014.
Food prices are growing every day, but the income of the average Ukrainian has grown. The currency is unstable, the purchasing power is decreasing every day. No one can make a clear forecast.
Companies' budgets are shrinking - this is due to declining profits. Unfortunately, in such conditions, the loss of brand positions in the market is inevitable.
Here are some unique recipes from Forbes specialists. The crisis carries many risks, but a competent specialist can find a lot of opportunities for himself during this difficult time. Those companies remain afloat, the owners of which promptly react to any changes in the market and new requirements. Despite the small budget, developers must be able to effectively use communication channels and various tools to promote the brand in the market.
A huge number of Ukrainian firms were forced to reduce their budget by up to 50%, and in some cases even up to 100%. This problem did not affect only a small number of companies. The expert advises to be careful with resources in such a difficult time, as well as to reduce the range of assortment, to remove some items from the shelves. Every effort should be made to strengthen the core business of the firm.
In times of crisis, it is best for businessmen to take a course to increase brand loyalty. The level of loyalty can be increased by introducing a system of discounts, gifts and improving the quality of service. The economic crisis is a good time for creating an affiliate program, for introducing new technologies and a unique selling proposition. Implementation of innovations will not require huge investments, but sooner or later it will bear fruit.
During the crisis, many entrepreneurs are thinking about options to reduce their marketing budget. Those firms that can afford to spend large sums of money on an advertising campaign, despite the crisis, win. If the level of sales falls, then the advertising budget will inevitably decrease, as the theory of spirals says. In the end, the company will collapse.
If the possibility of financing an advertising campaign in the same volume is lost, then Anton Volansky advises two options:
A popular trend in modern marketing is the transfer of advertising budget from television to the Internet. This trend is incredibly effective in the current conditions of brand promotion in the market of Kiev and all of Ukraine.
FINE branding agency Development Company: AI, Blockchain, IoT, Kyiv, Lviv, Odessa, Dnipro, Vinnitsa, Ukraine specialists are well aware of the economic crisis. Contact right now to develop an effective strategy for promoting your business in Ukraine!