At the marketing conference organised by the Russian-German Chamber of Commerce, we discussed today's most pressing issues with colleagues.
Elena Yufereva, CEO of Brandson, was one of the conference's expert speakers and talked about strategy as the key to effective business decisions in unstable times.
When some companies leave the market, it is a new opportunity for others to take their place. How can you respond quickly to a changing situation in these conditions and end up among the leaders?
In her talk, Elena shared the most common mistakes in working with a brand, how to avoid them and how to plan a brand strategy when it is unclear what tomorrow will bring. In times of turbulence, only strong brands that can quickly reorganise and identify new niches for themselves will survive. As examples, the expert cited several agency cases that managed to adapt and thrive on the market regardless of the circumstances.
One example is the case for O’STIN, one of the leaders in the Fashion Retail segment in Russia. The company has been producing casual clothing for men, women and children for more than 17 years. Today it is among the TOP 100 largest retailers, with a turnover of 3 billion roubles and 18% growth.
The Brandson team transformed all of O’STIN's communications into digital: website, mailings and social media.
The brand continues to develop actively. Work is under way with opinion leaders, designers and stylists in the format of virtual fitting rooms. The introduction of a bonus system will help retain users, especially given the current difficulties with social networks. One stage of our work was to revamp the email newsletters to improve their conversion rates, and today this communication channel can be particularly useful for the bonus system when big data is handled skilfully.
Ostin is also working on introducing innovations: for example, a barcode can be used to find out which store has the desired model and size range.
In today's reality, the brand can become an alternative to foreign retailers in its segment and achieve substantial growth in its performance. And we will continue to follow our clients' successes and support Russian brands.
