What are consumers really looking for?

Breaking out of the old patterns of unreasonable consumerism

With the development of communication tools and especially of the Internet, companies have learned to master many additional communication channels for their offers: social networks, influencers, applications, m-marketing, etc. And this multiplication of interfaces between brands and consumers has the effect of exposing them to many more suggestions for purchasing various products and services. On average, an average person living in a big city is exposed to no less than 1200 advertising messages per day, inciting him to consume.

Having returned to their basic needs (such as those mentioned in the point on Utility precedes profit), consumers are becoming more and more aware of what they really need. However, all of this is not new. Already in recent years, worldwide and particularly in Europe, we have seen anti-Black Friday protest movements. The November 2019 episode further elevated the methods of these growing militant actors against overconsumption.

Faced with such events, it may be easy for some companies to wear blinkers, believing that they are immune to these few isolated actions of small groups.

Serious error !!!

We cannot stress this enough, the COVID-19 crisis had an accelerating effect on all the societal issues of our time. The silent protest from before is gradually turning into a vast planetary movement which will force lovers of traditional methods to re-examine their copy in disaster.

However, the road is still far. To see the advertising harassment and the offers of car manufacturers which for some are on the verge of unfair competition, one wonders about the relevance of encouraging consumers to spend on the purchase of new vehicles, even though the unemployment rate is at its highest level since the second world war in certain industrialized countries.

Companies that understand consumer expectations and offer tailored solutions

This step first requires building effective relationship strategies as we saw above. Today, companies are increasingly aware of the need to invest in building federated communities around the values ​​of the brand and the mission of the company.

Understanding that customer aspirations are constantly evolving is the first act of a process that could be assimilated to an organizational philosophy rooted in culture. Far from being a long, calm river, this approach, which is often underused, even by marketing professionals, is particularly relevant at a time when consumers are increasingly questioning the meaning of their life, starting from their shopping.

Functions such as that of Community Management, once considered the icing on the cake, are gradually beginning to demonstrate its importance in listening to the stakeholders of the company, especially customers and prospects.

And some companies that have understood what is currently playing have invested heavily in this approach.

Business models rooted in a long-term vision

Directly related to the previous points, the business models of companies happen to be deeply tested and questioned. In reality, it is more a question of agility, of capacity for innovation. By orienting their production capacity and resources in the search for solutions to solve their customers’ problems, some companies have succeeded in developing their business model. This sustainable vision of the company has been deeply defended by many economic players for a long time. Paul Polman recently called the Sustainable Development Goals (SDGs) the “best business plans in the world”. According to him, companies should align their strategy with these indicators adopted in 2015 by the UN. The transformation of traditional business models (oriented towards finding a short-term profile), towards those aligned with a long-term vision, is a challenge that will mobilize companies over the coming decades.

Questioning its raison d’être then becomes essential for the sustainability of the business. Better still, by identifying its raison d’être, the company will be able to get rid of the dictate of profitability in the very short term to appropriately identify the strategic decisions, the services and the products allowing it to manifest its long-term mission.

The fact is that the heightened competition has forced a large majority of companies to put themselves in a short-term posture in order to “survive”. However, the serene pursuit of a mission, formalized by the raison d’être makes it possible to embark on the long term, stakeholders and consumers sensitive to this vision especially in times of crisis.

Act locally to revive economic activity

The closure of physical borders has damaged the supply chain of businesses and in some cases threatened the economic sovereignty of some states.

Today, consumers have understood these challenges and expect businesses to support the economy of their territory by calling on local suppliers. Moving in this direction, the McKinsey cabinet invites managers to “reconsider the concept of distance” in order to secure their supply. Better, it even strongly recommended to the companies to take seriously into account this wave of dispute on the reverses of globalization. On this point, strategic consultancy agencies (such as Original’s) have made it their hobbyhorse.

Without being forced to choose between globalization and relocation, companies are invited to take advantage of this new deal, as a real strategic development opportunity to adapt to their different contexts.

Activating economic recovery even in times of uncertainty becomes possible for companies positioning themselves as local citizens, but also global players with universal values.

The changes that affect the realities of today and tomorrow will undoubtedly allow contributory, resilient, deeply agile and innovative companies to emerge, which are essentially oriented towards the permanent satisfaction of their stakeholders, in particular, their customers.

And this transformation of the business model will be able to be carried by a responsible Marketing in the service of the “raison d’être” of the companies.