Consumer values have shifted dramatically in the past decade. Rising inflation, climate change, and supply chain disruption mean that around 38% of shoppers switched brands in the past three months alone.
Shoppers are far more likely to buy through eCommerce and social channels today, too. According to an analysis by McKinsey, this has pushed markets like health and wellness to new heights, as many industry leaders now pivot towards serving health-oriented consumers.
Aligning your marketing strategies with emergent consumer values is critical. You can quickly bolster your brand image with some tactful use of value-driven advertising and may find that foregrounding sustainability or social causes can boost your sales.
The widespread adoption of social media means that trends move quicker today than ever before. Staying up to date with the latest sounds, events, and consumer values is vital if you want to connect with your audience and boost your appeal amongst new consumers. The best way to assess your customer values is to pay attention to emergent consumer behavior, such as:
Understanding these behavioral trends can help you assess shifting customer values. For example, if you notice an uptick in engagement with social posts highlighting your brand values, you may want to pivot towards marketing that champions social causes like sustainability and equality.
Sustainability and social responsibility are at the forefront of modern consumer’s minds. Failing to take your social, ethical, and governance (ESG) responsibilities seriously can damage your brand and generate plenty of bad press. Conversely, championing causes like recycling can help you reap the rewards of running a sustainable business.
It’s easy to discount the importance of sustainability to modern consumers, but many consumers reach for the green option at the supermarket. The marketing potential doesn’t end at the grocery store — eco-marketing is well-suited for service-oriented industries like HVAC installation, utility maintenance, or telecommunications. Field service businesses that do incorporate sustainability into their operations will benefit from:
Modern consumers care about climate change but will turn away from your brand if you engage in greenwashing or overstate your efforts to further social justice. As such, you’ll need to rely on actionable, impactful strategies like recycling or installing sustainable tech. This will boost your brand reputation and ensure that your brand is properly aligned with consumer values.
The meteoric rise of digital marketing has been driven by AI adoption, changing consumer values, and increased utilization of devices connected to the Internet of Things like smart speakers and thermostats. As a marketer, you can’t afford to overlook these emerging developments and should take action to ensure that your strategies align with consumer values in the era of Industry 4.0. Many believe that Industry 4.0 will be defined by:
Understanding the hopes and fears of consumers in the era of Industry 4.0 is key to your efforts to connect with consumer values. As a marketer, you’ll have to navigate a fine line between utilizing valuable big data and ensuring that your consumer data is kept private and properly secured. You’ll also need to work closely with cybersecurity specialists while crafting future marketing campaigns, as failing to protect your consumer’s personal information is sure to land you in hot legal water and undermine your brand image.
Authentically appealing to consumer values requires a coordinated approach to market research and content creation. As a marketer, you can get the ball rolling by creating strategies that foreground the positive impact of your business on the world at large. Follow up on these initiatives by improving your cybersecurity and protecting consumer data. This will alleviate fears about cybersecurity risks and aid your efforts to improve brand loyalty.
