In a recent article for Advertising Age, Avi Dan shares his predictions for consumer behavior and what it will mean for marketers. Says Dan, “Unemployment will remain high, consumer confidence low and consumption depressed.” According to Dan, this is a recipe for a new consumer behavior: frugality.
Dan explains, “The economy is shrinking to levels that reflect […] a vastly more frugal consumer.” His prescription for marketers? “Rethink everything.”
Marketing and PR go hand-in-hand, so as marketers rethink their products, promotions and prices, PR strategies must morph to match. As PR professionals, what can we do to keep up? Here are a few tips.
Highlight value. Many journalists are writing about ways to save money and get the most out of each purchase. When pitching a story about a client’s product or service, highlight affordability and value. Avoid pitching more expensive offerings.
Stay positive. The deluge of dismal news these days is enough to get anyone down. When pitching stories and writing materials for your client, focus on the positives. Share success stories and be optimistic.
Be green. Customers will shy away from products they perceive as wasteful or harmful to the environment. Focus on sustainability and demonstrate how products will remain valuable for years to come without damaging the planet – or their wallets.
Get personal. If we’ve learned anything from the explosive growth of social networking, it’s that consumers want dialogue and personalization. Forget targeting a broad audience and focus on specific customers. What media do they engage? What are their needs? Think about niche shows, publications and blogs.
Secure third-party support. Customers are carefully considering each purchase and looking to experts for advice. Make sure you have analysts, bloggers and other influentials on your side. Brief them in advance of announcements, send samples and secure testimonials. But beware – the savvy buyer can smell a sponsored endorsement from a mile away.
Successful PR pros will think creatively and reach consumers in new ways. After all, PR is a cost-effective way to connect with key audiences and maintain visibility during tough economic times.