With a new report stating that one in five of the UK’s young adults is out of work, it’s fair to say that the job market is a difficult world for some. Because of this, brands need to pay close attention to this demographic, as research highlights that young consumers are responding to economic hardship in different ways.
Young people are showing diverse attitudes towards the economy, and brands aspiring to connect with 18-to 24-year-olds must now tailor their offer to 5 groups, according to an agency.
The research surveyed 1,000 18 to 24-year olds, calling the group the ‘Con-Demmed Youth’, a clever play on words between the Conservative and Lib Dem government they exist under. The 5 groups are:
- Go Getters – 23% of the sample, classed as the most ambitious and socially aware people
- Cotton Wool Kids – financially protected young adults who make up 23% of this sample
- Passive Massive 22% of the sample, the laissez-faire segment
- Minimum Rage group – 17% fall into this segment, the most likely to be unhappy and lacking in ambition
- Shundergrads – the 15% who are very savvy and see little need for a university degree.
The Go Getters are perhaps where some brands should take note. Mostly female, this group are academically successful, socially aware and with high career goals. Although not particularly materialistic and happy to mix designer and high street brands, they’re likely to spend money on some premium brands and eating out.
On the other end of the scale, the Passive Massive group shows little discrimination and lacks opinions on brands, and has little interest in the state of the economy. Unsurprisingly this is where the highest level of unemployment sits, with 55% saying a career is not necessary for their happiness.
The report makes for interesting reading. Take a look at the five groups that make up the ‘Con-Demmed Youth’ study and their favoured brands. Read more…
As Britain slides down the rankings from position 10 to 13 in the Future Brand’s Country Brand Index, a global study of country brands, it shows how factors such as economic problems and unrest have a negative affect on a country’s brand.
It’s not surprising. One minute Britain is basking in the pageantry of the Royal Wedding, relishing our history and sense of occasion. The next, the streets are full of rioters and unrest.
Having a strong country brand is pivotal as it influences the perception of tourists, investors and buyers of British products. Can we recover? The signs are positive having just won the bid for the 2017 World Athletics Championship, and Brand Britain marketers are hoping that the London 2012 Olympics will give us an opportunity to showcase a fresh image.
Let’s take inspiration from the countries who’ve improved their brand. Japan’s increased its ranking despite the earthquake, and Thailand is showing a strong performance in tourism despite political upheaval in the country. Brazil has seen a boost following successful bids to host the 2014 FIFA World Cup and 2016 Olympic Games, and Canada which took full advantage of promoting its natural beauty throughout the 2010 Winter Olympics tops the Index.
I’m hopeful that next year Britain will have a fantastic year. With campaigns such as Visit Britain’s tourism campaign to inspire the tourism industry to promote our country in the run up to the Olympics, we’re heading in the right direction.
I’ll be playing my part by working with British companies to help them market themselves effectively. Read more…
John Lewis is using ‘Made in UK’ on over 4,000 products as part of their Corporate Social Responsibility programme. So I’d like to know if London members think that ‘Made In’ is relevant to today’s consumers.
My opinion is that it works for certain countries. Switzerland is synonymous with fine timepieces, Germany highly regarded for precision machinery, Italy is the ultimate for gold jewellery, and France is associated with perfumes and luxury accessories.
What does Made In mean?
It sounds obvious, but it needs defining. Currently, as long as imported goods are 51% produced in Europe, it can qualify as ‘Made In’. But we suspect that John Lewis has a more stringent category, because as a British retailer, their customers expect it to support other British firms when it can.
What does it mean for Britain?
What do you think ‘Made in Britain’ conveys? Is it design, creativity, quality, traditionalism? Let me know your thoughts on @CIMLondon Twitter. Certainly, ‘Made In’ triggers the emotions and branding is all about emotional connections.
Read more…
Business is changing. People are engaging with social media more and more. Your potential customers are socialising online and they expect businesses like yours to do the same. This was made crystal clear at the recent Social Media Bootcamp arranged by The Chartered Institute of Marketing.
Organisations that have a social media presence are likely to be more profitable. While this has as much to do with a desirable product and a commercial business model, social media is becoming increasingly part of every organisation’s marketing strategy.
Millions of us use social media, so not surprisingly, search engines are taking note. This has led to the rise of ‘Social Media Optimisation’ – Social Media plus SEO – discussed at Bootcamp by James Fairweather, social media consultant. It involves driving traffic to your website using social media, with the ultimate goal of increasing sales or leads.
- According to Twitter, 25% of all tweets include URLs, which are a valuable natural link building tool helping you shift from Pay Per Click visits to your website to Organic (unpaid) searches and boosts your web rank..
- Someone who is engaging with your profile has already shown an interest in your product which has an important impact on uplifting conversions from visits to enquiries and sales.
- Social networking increases online brand presence and creates a powerful and more comprehensive online marketing strategy – it makes sense to be where your customers are and be part of the conversation.
An integrated social media strategy can span the marketing content ecosystem, with three types of media involved:
- Paid for media – advertising online, in print, on television
- Owned media – PR, corporate website, campaign site, email marketing
- Earned media – social networks, blogs, video sharing, forums.
Earned media, where customers and potential customers are talking about your product, recommending your service and linking to your website provides a valuable means to grow your business.
As I see it it’s essential that businesses today socialise online, in a way that they could not have imagined doing 5 years ago, to reap real commercial benefits right now.
With the sunny day and longer evenings, I’ve been able to get quite a bit of training in. I like to mix it up a bit. So when I want to try something else, I get on bike for a few hours. For me, the key to preparing for a race is variety. I like some change in my routine. The other thing that’s important is a sense of purpose. Having a goal in mind makes it easier to get those shoes on and get out the door. I’m doing all this work for a good reason. Making sure every athlete gets a chance and compete is important. And I feel a sense of enthusiasm for the 10K race I’m entering. I think having a clearly defined purpose, like taking part in a race that raises money for a charity, is important. When you get off track and miss some training or over do it on a Saturday night, it’s that much easier to get back on track. If I were just trying to improve my general fitness levels, I might not feel so focused on my goal. I think that’s true of the way I work, too. I like having clear objectives and I feel great when my clients reach their objectives. For me, it’s not really about competing with people. It’s about achieving new goals.
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I have to admit that I’m not a particularly natural athlete. I don’t remember ever coming home with any prizes on school sports’ days. But as the years have gone by, I’ve continued to run, cycle and wind surf. In fact, I won my first prize last year when I competed in a mini-triathalon at my eldest son’s swimming club. I came in third…out of three. But the best thing was taking home my first athletic award. Read more…
