Red Frog, Inc.

Business Gateway, 14-07-03

According to sociologists, society has changed fundamentally in recent years. Our lives no longer follow familiar patterns and that means we can no longer make broad assumptions about our customers’ lives, needs and aspirations.

So how can you compete in a crowded and shifting marketplace where consumers are increasingly marketing-savvy and marketing spend is ever decreasing?

Every day we’re presented with new trends – increasing ethnic diversity, the break up of the traditional family unit, increasingly ambiguous reactions to the major brands, the growth of online shopping. The list goes on.

A driving force behind this changing market is the loss of a single way of living. According to marketing experts, we no longer have a united set of preferences common to all. Instead, we take on multiple roles and adapt our image to the different situations we face. New technologies allow us to personalise products in a completely new way, enabling us to create our own unique, multi-faceted self-image.

Twenty-first century consumers
According to Ann Ward, Managing Director of qualitative researchers Ipsos Insight, the consumer is increasingly becoming part of the production process: “The message was once ‘we’ve made this, so buy it’. Then it was, ‘we’ve made it and it’s better, so buy it’, then ‘we’ve made it for you, so buy it’. Increasingly it will be ‘we’ve made it with you and personalised it, so buy it’”.

Accelerated lifestyles
Another key to the changing market is the accelerated pace of living, which demands a faster turnover of material goods. 40% of 18 to 24-year-olds expect to get a new mobile phone every year, turning it comprehensively from a piece of hardware into a fashion item (Source: Bartle Bogle Hegarty).

This accelerated consumer cycle makes it harder for businesses to maintain public interest.

Shifting demographics
The fact that Britain is a truly multi-cultural society must also be taken into account, both in terms of different cultural expectations and behaviour, and also differences in language. (There are 275 different languages spoken in London.) Plus we’re an ageing population, with more of us living for longer.

So, is it possible to market effectively in a media world that seems to be fragmenting by the hour and where the consumer has increasing control over the messages they receive? Especially when you consider that marketing spend hit an all-time low in spring!.

Positioning is key
Under these circumstances, precision in targeting is an absolute necessity, as traditional demographics fragment into increasingly defined sub-segments.

A precisely chosen USP that clearly positions your product or service within the marketplace will add considerable value to your marketing efforts. And developing a strong brand is not the preserve of the multi-national corporations. All businesses, no matter their size, can (and probably should) develop a consistent brand image and message that speaks directly to target customers.