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A report has emerged recently that broadly determined that wealthy Australians are becoming increasingly less brand loyal, willing and ready to switch at any moment to a brand that suits their needs a little better. Now, if you’re sitting somewhere in North America, Europe, the Middle East, Asia, or anywhere else in the world for that matter, it would be easy to dismiss this information as pertaining only to Australians. But experience tells us that consumers the world over are perhaps not as different as their geographic disparity might suggest.  Frustrating, too, for us marketers… those with the money are always the hardest to keep a hold of. Is it out of the question to think that we can change these people into raving brand loyal advocates of our products? Is it crazy to suggest that their fickle attitude and discerning nature can be significantly influenced? It might be, but giving it a shot can be potentially quite lucrative. The question is how? In short, we need to simply educate as much as possible. In such a competitive market place, it is crucial that we arm any consumer with as much information about our products as we possibly can – no matter how wealthy they are. This is the basic building blocks of developing them into those creaming advocates I was talking about. It just makes so much sense when you put yourself in the shoes of the consumer (after all, we’re all consumers ourselves). You’re standing in the supermarket aisle faced with 5 different brands of Olive Oil (there are probably more in real life, but we’re imagining at the moment). For 4 of these brands, you know very little. Sure, you may have used a couple of them once in while, probably because you liked the look of the bottle, or just needed a change. For the other one, you have recently learnt of 3 of its features, and the benefits it can offer you. Which one do you pick up? Admittedly, I haven’t done the stats, but as a betting man, my money’s on the last one. Then, if the product performance lives up to the promises we have told about it, what do you think the chances are the consumer will pick it up again next time? It’s obvious that a little bit of education amongst consumers can go a long way to growing our brands. We’ve seen it the world over with the kinds of results that so many clients have experienced with so many of our platforms. Hey, it’s a competitive market place out there. Do you really want to leave it to chance? By Tim Murray |
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