Marketing & PR Infographic of the Week: Factors Driving Purchase and Brand Decisions in the “New Normal”
By Ashley McCown, President, Solomon McCown & Company
It’s vitally important to understand how beliefs have changed in the post-recession marketplace and how those changes shape your ability to engage with the consumers and influencers who hold the key to success in marketing communications. Our firm recently commissioned a national poll to better define behaviors and values in the “New Normal.”
Jump to the bottom of this article for a video and Infographic summarizing the findings.
In the meantime, the surprising results offer five insights that can advance your ability to navigate consumer engagement, reputation management and community relations:
- Green is good: In the poll of 1,009 adults, conducted by Anderson Robbins Research, “living in an environmentally responsible and sustainable way” was rated very or extremely important by 72 percent of respondents as a key trait for achieving the American Dream. For those committed to sustainable business practices, there is a large reservoir of support that can be tapped.
- Higher education gets high marks: Asked which would be “a better start in life for most young people today,” 71 percent of those polled chose “a high quality college education” over $250,000 in cash. This finding was universal across all demographics in every region. A college degree is seen as critical steppingstone in life, creating an opportunity for the higher education sector.
- Health is top of mind: More than three quarters of those polled chose “a long and healthy retirement” as a very or extremely important aspect of the American Dream. “Good health” was rated as the third “most valuable” trait in today’s world in part of the nation – except the Northeast, where it ranked number one. Appeals to healthy living and longevity have traction in the New Normal.
- Time for fun: Asked to choose between “more time” or “more money,” a majority ages 18-34 age chose more time, while a majority of those 55 or older favored more money. Asked to choose between “more activity and excitement” or “more sleep and relaxation,” two-thirds of the 18-34 group preferred more activity, while more than half of the older set chose more rest. Leisure time looks very different to different demographics.
- Happy to help: Our poll also offered a boost for mission-driven appeals. Two-thirds of respondents consider “helping others through volunteer work or charitable giving” very or extremely important to achieving the American Dream. While financial gifts may be harder to come, people appear to be looking for other ways to contribute to the greater good.
In fact, the common thread of the poll findings is that non-financial goals are more prized in the post-recession era than the stereotypical, superficial measures of success.
The values that engage and motivate people in the New Normal can open a window of insight for marketing and communications pros. It’s clear that the anxieties of the last four years – from the Wall Street bail-out and record unemployment to the BP oil spill and unethical mortgage practices – have left psychic scars significant enough to reshape our values and our definition of the American Dream.
Here’s a video summarizing the results (please share)
Here’s an infographic summarizing the results (please share)