ENS on Sales

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There IS a Light at the End of the Tunnel!

          There is cautiously optimistic economic news on the 2010 horizon. Even the most pessimistic of forecasters believe we’ll be on the road to recovery, although it may be a slow and jobless recovery.
          But here is the real ‘news’. At the depth of the recessionary trough, it was believed the impact was so severe that all consumer buying patterns would be changed forever. But various new research reveals there will not be one homogenous post-recession buying behavior.
          Decitica Marketing Strategy and Research, for example, has identified four distinctly different consumer buyer types which will emerge from the recession;

• Steadfast Frugalists (20% of the population),

• Involuntary Penny Pinchers (29%),

• Pragmatic Spenders (29%) and

• Apathetic Materialists (22%).

          The Decitica report identifies Pragmatic Spenders as the most attractive group for marketers. This group skews older and towards upper income and has the greatest psychological and financial capacity to resurrect their spending patterns.
         The Steadfast Frugalists, primarily in the 40-49 year age group, are the most disciplined in their behaviors and are seriously committed to self-restraint as a result of their recessionary experience.
         The Involuntary Penny-Pinchers are the most severely affected, financially and emotionally, by the recession and begrudge the fact that their financial situation forces them to always compare prices before buying.   
         The Apathetic Materialists are largely in the 21-29 age group, although some are in the 30-39 demo. Apathetic Materialists are less perturbed by the recession and least changed in terms of their future spending habits. This is largely because of their age and the amount of time they have remaining to recover and accumulate wealth.
          So what does all this mean to radio marketers? You know the best time to capture share of mind and share of market is before the consumer is ready to buy, before the next boom..….i.e. NOW!
          Radio account executives who help their advertisers to promote on the leading edge of the recovery, and who help them strategically target the appropriate buyer group will foster strong, long-lasting relationships as their clients grow.
          This is your last ENS on Sales for 2009.  We hope you benefit from these free weekly tips, and wish you a very happy, healthy and successful 2010.
          If your New Year’s resolution is to lead the pack in the upcoming recovery, contact wayne@wensmedia.com to discuss how we can help you increase your revenues.