THE PANDEMIC YIELDS NEW CONSUMER VALUES
How can small business address these new values?
The pandemic compelled consumers—en masse—to shift their expectations more rapidly and completely than we’ve seen at any other time in history. People, locked-down, spent more time looking inward, elevating concepts of relationships and responsibility and re-evaluating their priorities.
Accenture’s recent survey of more than 25,000 consumers bears this out. Forty-two percent say the pandemic made them realize they need to focus on others more than themselves. These new consumers are changing their buying habits accordingly.
How can small business address these new values?
While price and quality have long been—and remain—the dominant motivations in consumers’ choice rationale, they have lessened in influence among today’s consumers. 66% said they now expect brands to take more responsibility in motivating them to live by their values and to make them feel more relevant in the world.
Accenture’s research reveals five distinct purchasing motivations oriented around the desire to feel better and have confidence in the products, services, and companies they patronize.
These are:
1. Health and safety
Consumers are asking: Are you keeping me and my neighbors safe? What about your employees?
2. Service and personal care
Do you remember me? Are you making my experience with your brand as personal as it can be? Are you there for me when I need you?
3. Ease and convenience
Are you meeting me where I am, in the digital world, the physical world, and through a blend of the two? And are you able to deliver what I need, when I need it, across all channels?
4. Product origin
What about the environment, and societal and corporate responsibility? Can you help me make sustainable choices? Can you help me support my local community?
5. Trust and reputation
Can I trust you to do the right thing for me and not just for your business? Can I trust you to be who you say you are and stand for the things you say you stand for?
How can you let your customers know what changes your business made?
Most businesses made quite a few changes during the pandemic to accommodate the “new normal.” Use your website, email marketing and social media to let your customers know you are have “heard” them and you are addressing their concerns.
Our marketing strategists and expert content writers can help you plan and craft your communications to cement trust with your customers.
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Can I trust you to do the right thing for me and not just for your business?
Can I trust you to be who you say you are and stand for the things you say you stand for?
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