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Why You Need to Be Especially Careful What Your Adverting Says During the Cost-of-Living Crisis

Home Business Magazine Online

As the UK stumbles into a cost-of-living constraint and impending recession, demonstrating empathy for customers is more crucial than ever.

The ‘cost of living’ has been a hot topic of discussion in the United Kingdom in recent months. We can thank the Covid-19 pandemic for this year’s record-breaking inflation rate of 9.8%, the highest since 1992. This, of course, is causing price increases across the board, from food to energy to housing to the cost of essential necessities, all of which must be accounted for in household budgets.

This is why it’s so important to be careful with your advertising right now. The wrong words and the wrong tone. The wrong message, in other words, can do a huge amount of harm. Read on to find out more.

Focus on Value

The focus of brands should shift from pricing to value. The long-term value a brand provides and the way it displays that value through the connection it has with its clients is of utmost importance in times of inevitable inflation.

The best way to make your brand stand out is to show how valuable you are rather than just tell people. Whether it’s a movie streaming service throwing in two extra movies at no extra cost, a regular discount at your favourite supermarket found through excellent supermarket advertising, or the elimination of shipping fees for all orders at an online shop, these little touches are what set one company apart from another.

Talk About Your USP

There is no avoiding the fact that costs will rise. More expenditure is never welcome, regardless of the reason. What this means for brands is that they need to take centre stage in the story even more, emphasising their unique selling points once more.

It’s possible that a company would rather support its local economy by purchasing goods from local suppliers than by outsourcing to other countries; nevertheless, this would lead to higher prices for consumers. Make sure that message gets across; we already know that customers prefer to buy from local firms (more than 90% of consumers are willing to pay more for British-made items), so we just need to prove that there is benefit in doing so.

It’s crucial that companies show they care about the hardships their customers are experiencing as a result of price increases. You could aid those who are looking to cut costs by offering them some sound advice. However, the method of implementation must always be considered carefully. Public relations became a nightmare for Ovo, the energy provider, as the company blogged cost-cutting advice that included telling consumers to hug their pets. A good intention could have been ruined by sloppy and insensitive implementation.

Companies can’t always avoid increasing costs, but when they do, brands need to give customers a reason to stick around and show they understand and care about the toll it takes on people’s lives.

Unfortunately, the recent inflation situation is influencing customer behaviour. With even more families on a tight budget and unwilling to spend, getting the outcomes you want from your advertising and marketing will be difficult. But it is possible.

The post Why You Need to Be Especially Careful What Your Adverting Says During the Cost-of-Living Crisis appeared first on Home Business Magazine.

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