Recently I attended a breakfast by the Australian Marketing Institute where David Chalke from Quantum Market Research gave a presentation on the latest social research into how Australians were feeling about the GFC and how this affects marketing right now. It was an excellent presentation relevant for all businesses. A take home message is to identify some trends that affect your customers and take action to work within the way people are feeling. Here are some findings
- Optimism is down since 2001 and Australians think cautiously about the future. They are worried about loss of control and are therefore risk adverse.
- Looking for old fashioned values e.g. honesty, frugal, prudence
- Family needs come first.
- In the past 2-3 years Australians are feeling like they don’t have time
- Too many choices is stressful
- Currently revaluating and also consolidating
Smart Marketing to do Right Now:
- Reinforce your brand values particularly if they are value for money, honesty, making it simple and saving time.
- Promote your full range of services that your customers may not know about
- Promote why your product or service is value for money – how does it save the customer money or time or make the customer money.
- Promote how does your product or service impact positively on family life
Other gems thank you David.
- Tough times don’t change the basics
- Things happen a whole lot faster
- Opens up weaknesses in your marketing mix
- Pre-existing social trends accelerate
- New opportunities open up
- Well run businesses thrive