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A Shifting Consumer Mindset: How uncertain times affect consumer motivations & what advertisers can do to adapt

Iris Espiritu, Senior Content Marketing Manager, VDX.tv

Major world events no doubt impact how consumers think and feel about their purchases. As consumers adapt to new realities caused by societal shifts, advertisers are called upon to adapt their strategies in order to remain relevant, and have their messages resonate, with their core audiences.

The global health crisis resulting from the COVID-19 pandemic is one event that has affected the way consumers prioritize their needs. Here’s what advertisers need to know.

The consumer mindset has shifted

Consumers want to be reassured that they will be kept safe if they buy your product or use your service. On Maslow’s hierarchy of needs, “safety” needs occupy the second layer of the pyramid, and are more basic in nature compared to the layers above. Advertisers that address the fundamental physiological and safety need (personal security and health resources) of consumers will win over more customers.

What motivators are influencing consumer purchase decisions?
  • Safety & Well-Being: “How does your product help my well-being?  Will your product increase my mental and physical health?”
  • Seeking Community Connection & Credibility: “I need information on how my community is faring and when business are reopening.”
  • Economic Strains: “Is this purchase something I need or want? Does my budget accommodate the price of this purchase?”

How can brands gain consumer trust to win more customers?

37% of consumers have already switched to a new brand as a result of that brand’s innovative or compassionate response to the outbreak (2). How can your brand gain trust from consumers?

  • Leverage audience insights to focus on consumer needs vs wants: Identify consumers’ buying priorities during the pandemic to ensure your message reflects newly formed interests and impetus for purchase.
  • Adapt messaging to offer support and guidance: 75% of consumers believe brands have a responsibility to help out during the pandemic (3).
  • Optimize delivery of your messaging to stay relevant as conditions change: 84% of consumers want brands to provide tips on coping with the pandemic (4).

73% of marketers have adopted new messaging (5). Marketers must stand out in an era of derivative messaging. Highly impactful and informative video-driven experiences can help break through the clutter and create meaningful experiences for your audiences. Contact us here to learn how.

Click here to download PDF version.

 

 

  1. https://www.edelman.com/sites/g/files/aatuss191/files/2020-03/2020%20Edelman%20Trust%20Barometer%20Brands%20and%20the%20Coronavirus.pdf
  2. https://www.edelman.com/sites/g/files/aatuss191/files/2020-03/2020%20Edelman%20Trust%20Barometer%20Brands%20and%20the%20Coronavirus.pdf
  3. https://www.acemetrix.com/insights/blog/how-brands-are-navigating-covid19-pandemic/
  4. https://www.marketingdive.com/news/consumers-believe-brands-can-lead-coronavirus-response-but-demand-practica/575199/
  5. https://www.iab.com/wp-content/uploads/2020/03/IAB-C19-BuySide_Ad-Spend-Pulse_FINAL.pdf

 

 


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