Consumer sentiment changes every hour of every day. Knowing what customers are thinking is the key to making good decisions for your brand. Here are the top stories affecting consumers this week. Keeping your finger on the pulse, made easy.
Are well-trodden paths necessarily the best routes?
The team behind Halo Top—a low calorie ice-cream startup—have had a very welcome surge in popularity recently. They are stocked in Morrisons, Sainsbury’s, Asda, Tesco, and by Ocado, and they sell one pint of ice cream every nine minutes. It’s not always been this way though: in 2014 and 2015 they were “hanging by a thread” says their COO, Douglas Bouton. Their sea change in fortunes came when they ditched the usual marketing strategies—in-store free samples, and trade show demos—and went digital. Bouton explained that Facebook and Instagram have been crucial because of the targeting they allow. They used small-scale influencers—normal people who were interested in health and fitness and had about 1000 followers.
Are you going through the conventional motions with your marketing strategy, rather than using something that actually works? Ask people if they’ve heard of you, where they’re looking, and what kinds of promotions they’re receptive to to find out, (and adjust course if needed).
Is your brand global enough?
The world’s biggest music company, Universal, are looking to expand into Africa. The expansion comes in the form of a licensing deal with Boomplay—a rapidly-growing African streaming service. Universal will open up their catalogue to Boomplay, and in turn gain a huge audience across the continent. They are also hoping to strengthen the global audience for African artists. Western streaming services like Spotify have been predicted to slow in growth over 2019, with analysts stating that the music business need to focus on emerging areas in order to keep their value up. Sub-saharan Africa is particularly appealing as a market since 60% of its population is under 25, and young people are much more likely to want to stream music. 400m people have phone subscriptions, and this is likely to go up to 690m by 2025.
Should you target emerging global markets that are growing faster than western ones? How might you tailor your offering to African countries and other fast-growth emerging markets?
Could a healthy respect for the past be a good thing?
Most companies are looking to shake things up, disrupt traditional methods, and innovate all the time. But sometimes a respect for the old ways opens doors that innovation can’t. Netflix has announced that it will release three of their film debuts in cinemas, before they put them on their own streaming service. It goes directly against the company’s on-demand ethos, but when Netflix are looking to start winning establishment awards like the Oscars, it’s a line they’re willing to tow. Just a fortnight ago, CEO Reed Hastings vowed commitment to their “member-centric simultaneous release model,” but since Academy voters are more likely to look favourably on movies that have had wide cinema releases, the approach has changed. The company has already won 23 awards at the Emmys for its TV shows, and now they want to start storming the Oscars.
Are there awards you should be aiming for that would bring a badge of honour to your company, and inspire consumers to look at you in a new light? And could more traditional distribution channels actually enhance your image?
Where’s the unconventional market for your product?
Fitness brands have been targeting hyper fit people for years, but looking outside of their traditional box, is something brands are increasingly trying. Bluebella—a lingerie brand—found that the average UK women’s size is 16, but that elite fitness brands like Lululemon only produce sizing up to a 16 or 18. Various brands are now taking a punt on the other 50%, who have long been left out of the fitness picture. Fierce Grace is a yoga brand who don’t use the word yoga, so as not to intimidate people, and feature old men and hairy bikers in their ads. Similarly, Superfit Hero make sportswear from XS to 5XL and their sales are doubling each year. Finding commercial success in unconventional places also comes with the nice byproduct of serving a previously underserved group of people, and can make a huge difference to consumers’ lives.
Think outside of your consumer base: ask what stops them buying your brand, and craft a solution that fills this hole.
If you want to launch a survey about any of these, or other current issues, just log in to your Attest dashboard and launch a survey to find out what real people are thinking right now.