It’s an unnerving time for many Americans, with the combination of political and social unrest, rising inflation, declining disposable income, job instability and market volatility contributing to one of the most uncertain periods in recent memory.

According to the Bureau of Economic Analysis, Americans are saving less than at any time since the Great Depression. Consumers saved just 3.4% of their disposable income in August, down from 12.6% in April 2021.

Brand loyalty can be tested at times when purchase decisions are increasingly motivated by price. But brands can also remain relevant—and loved—by demonstrating how they can help consumers achieve their hopes and desires.

Strong brands provide comfort in uncertain times, and resilience, focus and patience are key to brand growth and stability. This is happening alongside a radical shift in how people consume media and engage with brands, requiring a new set of expectations on breakthrough and effective marketing.

For anyone who cares about the future of their company, the role it plays in the world and its ability to shape culture, the following steps can help create a strong foundation for growth in a world that will require all of us to do more with less. 

Return to the fundamentals

Make it easy by focusing on the core qualities that make your brand great, whether it’s durability, superior taste or precision engineering. Be clear and consistent in your messaging. 

Humans are emotional and irrational: Define your brand’s emotional payoff—a purchase is as much a representation of a person’s identity as it is a need for soap, butter, or paper towels. 

Evaluate your messaging mix, scale back on ancillary promotions and drive creative effectiveness and consistency across media channels. 

Focus on the customer experience

Companies are 14% more likely to sell to existing customers rather than new ones. When many of your customers are worried about losing their job, getting sick or being forced to cancel a trip, this is a good time to take a closer look at who they are, how they’re doing and why they feel the way they do. A market downturn could be the best time to shift focus to your overall customer experience. 

Talk to your customers; call or ask them to fill out a survey to gather information about the role your brand plays in their life and the broader challenges they face. 

Balance purpose and product messaging 

Humans smell bullshit: Not every brand is Nike, and not every marketer should put Colin Kaepernick on a billboard. A brand's values, perceived authenticity and transparency can drive purchase behavior.

According to Accenture, nearly two-thirds (62%) of people say their purchases are influenced by a company’s ethical values, while 75% look for transparency into sourcing and safety. It’s imperative that companies are true to their culture and beliefs, and that they are reflected internally before being communicated to the public.

Moderation is essential for any marketing effort, where a healthy balance of sales driving and brand building messaging are required for growth, according to marketing researchers Les Binet and Peter Field.

Before embarking on any consumer-facing journey, audit your own brand values, internal practices, corporate social responsibility, sustainability and DE&I initiatives to truly understand who you are as a company and a brand.

Stay confident

The only constant is change. Cutting back on media spend is notoriously detrimental to brands during a financial crisis. A consistent brand presence and willingness to adapt to the changing behaviors of the people you’re trying to reach are critical during periods of economic uncertainty. 

Testing and experimentation across social channels, influencer marketing, content distribution, out-of-home, audio and podcasts, activations and partnerships—with a focus on consistency and performance—should all be considered as a means to grow stronger.

Keep moving 

While there is a tendency among brands to pull back on marketing investment during times of economic uncertainty, studies have proven that engaging in brand-building can be instrumental in helping capture additional market share and redefine their customer experience. Uncertain times are no time for trepidation and can be a huge opportunity to capture market share, redefine your customer experience, and proactively place bets—leading to stronger bonds, happier customers and increased revenue.