Relevance to Her Needs Guides Recession Strategy
By Robert Wheatley
Her priorities are changing — are you following the shift?
Ok, this is no great new discovery – mom’s control 85 to 90 percent of the household spending. However it stands to reason that what moms do and how they do it will have some bearing on the brand winners and losers his year.
Of course there’s the emotional thrill now available from an astonishingly wide array of product categories centered on getting something formerly expensive for a relative song. I bought a very nice Andrew Marc coat the other day from Neiman Marcus at 75 percent off its original sticker. I felt good. And so it goes with the feelings about saving. Lowering price, however, should not be the only answer in these challenging times.
Now more than ever it pays to listen. Investments in insight research rise quickly to the top as a critical jumping off point when making key decisions on your go-to-market strategy. As we know, in the absence of relevance and value to her lifestyle, the only thrill available is how low the price can go.
So for savvy brands wishing to grow their business while not diluting their equity by giving away the proverbial store, you must accurately assess her needs, wants and concerns.
Purchase behaviors are changing…
A recent AdAge column written by Sarah Moore and Betsy Westhoff of the MomWise consulting firm, had a few salient points on what mom will be doing this year. Among their observations:
Moms’ top priority forever and always will be the kids. So their needs will come first and she will make trade-offs to accommodate that. She will continue to look for rewards for herself, but they will be “simple indulgences†that fall after the kids’ requirements have been addressed. What sensible rewards can you place in her path? There’s significant evidence from quantitative studies that out of home eating and entertainment are dialing backwards while in-home versions of the same are gaining momentum. Such as home made or frozen pizza vs. delivery? How can she enjoy and use your brand as part of her nesting experience? Shopping is still a priority, but its scope and priority makes a change as we already know. How can you help assure the shopping experience remains as interesting, positive and entertaining as possible? She may be less likely to tolerate negative experiences or service lapses. In-sourcing. One of the stalwart trends of the service economy was letting others do it for you from beauty treatments to household cleaning chores. In these leaner times what was once accomplished by outside suppliers may go in-house — literally. How can you help her take control and succeed with these tasks? She’s not walking away from the emerging trend to go green and be environmentally conscious. But all of this will now be examined within the context of affordability. So when it comes to a proactive opportunity to win her allegiance, your ability to be an affordable option that is also eco-conscious may help sway the purchase decision.
All of this simply means that paying attention to her needs and desires remains as important as ever. Just know the tenor of the times may alter her worldview and thus your strategies must be evolving in parallel down that path.
