Share this
Glance at Your Competitors, Glare at Yourself: Branding in a Tough Economy (with Mark Arnold)
by James Robert Lay on December 13, 2022
Brief Summary of Episode #254
As fears of a global recession mount in the financial sector, financial brands are scrambling to get ahead of the economic downturn.
Unfortunately, that means marketing teams could see significant cutbacks.
But Mark Arnold, President of On the Mark Strategies, argues that now is the time for banks and credit unions to plant their flags in the ground.
“You don’t grow by cutting marketing costs because fewer people will know about you,” Mark said. “If you want to grow, you need to invest more in marketing and more in your people.”
Financial brands and fintechs have had the luxury of coasting through a booming market over the last few years.
But as Mark told us, now is the time to put your resources to work.
“Now you’re going to have to be intentional with your growth,” he said. “Invest in your digital platform. Invest in your consumer experience. Invest in getting your members to know who you are.”
By investing in people, both clients and employees, your brand can weather the storm and see this economic winter through to the end.
Key Insights and Takeaways
- The three legs of the Branding Triangle (6:12)
- Why cutting back on marketing during a recession is a mistake (14:45)
- The distinct skill sets of leaders versus managers (22:28)
How to Connect With Mark Arnold
Share this
- Exponential Insights (241)
- Article (90)
- Practical Perspectives (55)
- Strategy (47)
- Inside Digital Growth (46)
- Digital Growth Journeys (38)
- Purpose (30)
- platforms (22)
- Podcast (19)
- Production (19)
- Process (17)
- By the Book (14)
- Behind the Cover (12)
- Digital Leadership (12)
- New Starts Now (10)
- Clarity Calls (9)
- Products (9)
- Pathways (8)
- Real Solutions (7)
- Video (7)
- Heart of Growth (6)
- Game Changers (5)
- Performance (5)
- Promotion (5)
- Website (5)
- Personas (4)
- banking on change (3)
- Analytics (2)
- Content Marketing (2)
- Hurricane (2)
- Financial Brand (1)
- June 2025 (1)
- May 2025 (2)
- December 2024 (3)
- November 2024 (7)
- October 2024 (9)
- September 2024 (13)
- August 2024 (12)
- July 2024 (13)
- June 2024 (13)
- May 2024 (12)
- April 2024 (10)
- March 2024 (11)
- February 2024 (8)
- January 2024 (10)
- December 2023 (7)
- November 2023 (8)
- October 2023 (12)
- September 2023 (11)
- August 2023 (15)
- July 2023 (18)
- June 2023 (13)
- May 2023 (16)
- April 2023 (10)
- March 2023 (13)
- February 2023 (14)
- January 2023 (17)
- December 2022 (9)
- November 2022 (15)
- October 2022 (14)
- September 2022 (14)
- August 2022 (19)
- July 2022 (15)
- June 2022 (15)
- May 2022 (22)
- April 2022 (21)
- March 2022 (17)
- February 2022 (14)
- January 2022 (14)
- December 2021 (9)
- November 2021 (14)
- October 2021 (17)
- September 2021 (13)
- August 2021 (12)
- July 2021 (14)
- June 2021 (17)
- May 2021 (10)
- April 2021 (15)
- March 2021 (12)
- February 2021 (16)
- January 2021 (18)
- December 2020 (21)
- November 2020 (13)
- October 2020 (20)
- September 2020 (13)
- August 2020 (17)
- July 2020 (15)
- June 2020 (7)
- May 2020 (16)
- April 2020 (1)
- March 2020 (4)
- February 2020 (2)
- January 2020 (2)
- December 2019 (1)
- July 2019 (1)
- April 2019 (1)
- May 2018 (2)
- January 2018 (6)
- December 2017 (3)
- November 2017 (3)
- October 2017 (3)
- August 2017 (1)
- June 2017 (2)
- May 2017 (1)
- April 2017 (1)
- February 2017 (1)
- January 2017 (1)
- December 2016 (1)
- September 2016 (2)
- August 2016 (1)
- July 2016 (1)
- May 2016 (1)