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:

  1. Reinforce your brand values particularly if they are value for money, honesty, making it simple and saving time.
  2. Promote your full range of services that your customers may not know about
  3. Promote why your product or service is value for money – how does it save the customer money or time or make the customer money.
  4. 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