We live, allegedly, in a world of austerity. It is accepted wisdom that all consumers are wearing hair shirts, spending no money and are as miserable as sin.
No marketing activity can overcome this. Especially on Blue Monday
From where we sit that’s patently not true. Reviewing client results this morning we see clients with 60%, 15% and 30% growth year on year. Consumers will spend, and spend on high ticket products or services. Absolute cost isn’t an issue. Perceived value is.
There isn’t universal austerity, but there is universal intolerance of poor value. And that covers relative value for prices that can be easily bench-marked, or perceived value of less easily bench-marked services.
There are obvious messaging implications of this consumer behaviour, but there are also media implications. Once again this stresses the need for an integrated media campaign to demonstrate value. Broadcast media have a role to engage consumers emotionally and break inertia; print and digital media provide rational support to the value message; and social media provide a comfort blanket of the “wisdom of crowds” reinforcing that buying decision.
That implies higher risks and bigger capital investments. But the rewards are there, even on Blue Monday!
Mike Colling
Managing Director
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