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1、HOW TO COMBAT INFLATION WITH CREATOR MARKETING HOW TO COMBAT INFLATION WITH CREATOR MARKETING HOW TO COMBAT INFLATION WITH CREATOR MARKETING CHANDLERISAACFAARESQTHATDADBLOGTHEFIRSTGENMENTOR7.4%SOURCE:STATISTA200202021202220233.23%3.62%3.51%3.23%4.71%4.85%Prices continue to skyrocket every
2、where,showing that rising inflation is a global problem.According to Statista,the inflation rate has more than doubled over the last two years in most advanced economies.During these turbulent times,marketers across all industries face steep challenges in satisfying fast-changing consumer needs.Glob
3、al Inflation Rate from 2017 to 2023 Global Inflation Rate from 2017 to 2023 CONSUMER CONFIDENCE HAS DROPPED IN 2022 GIVEN THE INCREASED RECESSION FEARS.How Economic Uncertainty Changes Consumer Psychology&Habits How Economic Uncertainty Changes Consumer Psychology&Habits Economic uncertainty affects
4、 consumer behaviors.During economic turbulence,theres a change in priorities when it comes to economic decisions.Most consumers are changing the way they shop in an effort to manage expenses.“A MAN WHO STOPS ADVERTISING TO SAVE MONEY IS LIKE A MAN WHO STOPS A CLOCK TO SAVE TIME.”History tends to rep
5、eat itself.Strong evidence suggests it pays off to maintain marketing activity during an economic downturn.Right now,companies must stay relentlessly focused on driving efficiencies and staying top of mind to get short and long-term benefits.-HENRY FORDData from the 2008 recession shows the value of
6、 investing in brand advertising.Most brands during the Great Recession made the mistake of going into defensive,survival mode and made deep cuts.However,brands that didnt do this in 2008 saw their earnings climb steadily during the downturn and even rose afterward.In summary,focus and plan for the l
7、ong term.Dont make the mistake of cutting costs,jeopardizing long-term performance.CONSUMER CONFIDENCE HAS DROPPED IN 2022 GIVEN THE INCREASED RECESSION FEARS.Marketing Failures to Learn FromMarketing Failures to Learn FromLESSON 1:DONT MAKE CUTS PREMATURELY PETER FADERWharton marketing professor“Th
8、e first reaction is to cut,and advertising is one of the first things to go,as companies slash advertising in a downturn,they leave empty space in consumers minds for aggressive marketers to make strong inroads.”You dont want to ignore whats happening in the economy,but dont sound like an alarmist w
9、hen you acknowledge it.Consumers became fatigued by pandemic ads in early 2020,and the one-size-fits-all traditional messaging about inflation is unlikely to be successful.In other words,mass messaging doesnt work.Connect with them emotionally,making them feel understood and cared for.What do your c
10、ustomers need during these challenging times?Lean in and listen.How do you address the current situation and not sound like every other brand?“A MAN WHO STOPS ADVERTISING TO SAVE MONEY IS LIKE A MAN WHO STOPS A CLOCK TO SAVE TIME.”LESSON 2:DONT AVOID THE PROBLEMLESSON 3:DONT DO IT ALONE“The first re
11、action is to cut,and advertising is one of the first things to go,as companies slash advertising in a downturn,they leave empty space in consumers minds for aggressive marketers to make strong inroads.”Creator marketing tactics help avoid a recession-triggered dip in sales by increasing high-affinit
12、y touchpoints and amplifyingPRICE CONSIDERATE MESSAGINGPRODUCT REVIEW DEAL SEARCHABILITYPRICE COMPARISONWhat better way to connect with your customers than with other customers?“Despite the current economic uncertainty,marketers are increasing their spending on creator partnerships.The looming fear
13、of a recession doesnt mean shoppers wont be spending money,especially on the upcoming holidays.They will just be more selective in what brands and products they choose.”ERIC DAHAN,Open Influence CEOTHEFIRSTGENMENTOR BRAND AWARENESS Zero in on your brands purpose.Create campaigns that amplify your br
14、ands mission statement.Strategically craft messaging that sticks in your customers minds.Knowledge BRAND LOYALTY Turn the focus inward on clients-Brands should ask,“how can we help?”Look for tactical opportunities to create charity through acts of humanity and generosity.Attitude BRAND ADVOCACY Impr
15、ove the affordability of your offerings.Continue to invest in brand advertising,especially creator marketing.BehaviorMARKETING MUST DOS TO INSPIRE ACTION Creator Marketing in Every IndustryCreator Marketing in Every IndustryDuring a period of high inflation,consumers shift their spending to basic ne
16、cessities ike food,essential clothing and personal care-but they might stray away from non-essentials like home products,sporting goods and electronics.At a time when consumers are reducing costs and looking to make smarter financial decisions,it is crucial for brands to stay top of mind.We do not d
17、oubt that creators will make your brand thrive,no matter the industry.SMARTER CREATOR MARKETING DECISIONS START WITH GO PRISMSMARTER CREATOR MARKETING DECISIONS START WITH GO PRISM.Quickly vet brand-safe creators you can trust.Quickly vet brand-safe creators you can trust.Identify industry trends to
18、 inform influencer campaigns in every industry.Identify industry trends to inform influencer campaigns in every industry.Uncover top-performing creators that move metrics that matter for your unique business objectives.Uncover top-performing creators that move metrics that matter for your unique bus
19、iness objectives.Leverage demographic audience data to crafthighly-relevant influencer campaigns.Leverage demographic audience data to crafthighly-relevant influencer campaigns.Help you keep your finger on the pulse by leveraging competitive benchmarks.Help you keep your finger on the pulse by leveraging competitive benchmarks.51243WORK WITH US TODAY!Dont just survive these times.Let us help you thrive with creator marketing.