Wednesday, January 14, 2009

Pitching Value

Results of a new study from Miller Zell, an Atlanta-based retail consulting company, reinforces what a lot of us already know - moms are in charge of household purchases and the family budget. What's most interesting is the study shows that the current economic downturn has moms changing the way they shop including "eating-in more often, with 68% saying they spend less at restaurants; changing channels, with 50% moving from premium grocery stores to discounters; and trading down, with 87% switching brands at the grocery store and a third buying private-label clothing." The report's author then recommends that companies need to "ramp up their value message".

Simultaneously, media outlets are focusing on value stories. In Canada headlines such as "Be Fashionably Frugal", "Buy the Best Quality You Can Afford", "Budget Friendly Family Meals" have been popping up in newspapers across the country. Each article listed a number of great value-conscious ideas that readers can easily implement in their life.

To take advantage of this universal state-of-mind (value is #1), start thinking of ways that your brand presents value-based ideas and promote the details to the media in a Top 5 List. Let's say your company produces eco laundry products - distribute a list of Top 5 Ways You Can Save On Your Laundry Bills (wash in cold water, spin the clothes twice so they dry faster and use less power, etc).

You are more likely to garner media and blogger attention if you provide a context to your brand that is useful and relevant to their readers/viewers lives and moms will value your brand even more because you are providing them with useful tips they can apply to their busy life.

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