Can Your Brand Cure These New Consumer Pain Points?
All businesses need to be offering value to their audience, otherwise, they are no use to anybody. It is biz school, 101! It is time to solve those problems and ease those pain points.
Pain points are challenges, risks or annoyances for your customer. They may prevent customers from doing their job or from even feeling peace. By considering these, you will learn how to position your product or service as much-needed solutions.
Recently, we have all faced wicked challenges. 2020 will be a year none of us can forget! It is proven that the world is in constant flux, and so are your customers' needs and challenges. Yes, change is unsettling, but recent events have demonstrated how adaptable we all can be. We have to continue with our fingers on the pulse.
The following points are worries keeping many of us up at night, and how to soothe them:
Health Anxiety: Promote Wellbeing
The link between mental and physical health is clearer than ever. It's no surprise — the pandemic has exasperated matters. Consumers are concerned for themselves, as well as their friends, families and colleagues. They are looking to cope through self-care across fitness, nutrition and beauty.
Opportunities:
Brands can be a platform for good. They should nurture their communities, signpost support or partner with appropriate charities.
Home fitness is growing due to gym closures. Consequently, there are opportunities for equipment and leisurewear.
Food companies could reposition or develop products which provide potential immune support.
Financial Troubles: Offer Real Value
Income levels changing, and this is causing panic. According to the media group, Kantar (Yu, 2020), 60% of Asians are concerned about their financial security. Therefore, spending priorities are adjusting. Consumers are focussing on health, wellbeing and their homes, so are more willing to spend on these. However, if you're outside of the sectors, you are still able to help.
Opportunities:
Add value by providing multifunctional or multipurpose products or services.
Extend goodwill to your customers by offering extended returns periods.
For consumable goods, go big and for long shelf-dates. After all, every little helps!
Safety Concerns: Provide Comfort
“Home is a shelter from storms — all sort of storms.”
A man's home is a castle for a reason. It's true, the home has strengthened its position as a safe sanctuary, due to worldwide political unrest and the COVID-19 pandemic. This need for safety is a great unifier. So, many neighbourhoods have been brought closer together due to this trauma. It is important brands show this understanding and empathy by providing further comfort.
Opportunities:
Nesting, cocooning or hibernating. Brands should adopt a cosy aesthetic to support these consumer activities.
Reconnect with nature to restore peace. Brands should promote natural products or introduce more greenery to their communications.
Consumers are looking for protective benefits across products or services. Aim to guarantee safety.
Fear of Loneliness: Build Communities
Lockdown has seen the rise of loneliness — a burning issue which has been around for a while. The digital world and remote working has caused us to desynchronise from one another, making it harder to connect. It's up to brands to use the power of community and encourage togetherness. After all, that's what branding has the strength to do.
Opportunities:
Aim to provide "quarantainment" for customers through virtual events.
Gaming and esports have increased in popularity. Brands could form partnerships with this sector.
Work closely with consumers on new products and services through the use of co-design.
Fake News Alert: Nurture Trust
The phrase, "fake news" has certainly become a cliché over recent years. As consumers, we're never sure what is true and what is fake. The boundaries have become blurred and we're now desperate for sincerity. With recent turbulence (such as the pandemic) in mind, it's more important than ever that consumers are kept informed with reliable facts.
Opportunities:
Review your corporate social responsibility policy — are you taking it seriously?
Show consumers' transparency surrounding your supply chains. Consumers want to know their products are safe.
Prove to customers that your care extends beyond profit. Use testimonials and case studies to demonstrate you will go the extra mile.
Business owners – we can aid these niggles through our products. and services. We can use our brands as a platform for good and make positive change. We're here to improve the lives of many, so it makes sense to address evolving concerns and provide support. We can weather this storm together.
Do you agree? How can your business aid a troubled audience during this time?
Next up: If you're interested in receiving more COVID-19 support, read our free guide: Be a Homebody Brand: Your Guide to Post-Covid-19.
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