I was browsing through the latest delivery of one of Dealer Communications eNewsletters when an article caught my eye – “Consumer Reports Index: Sentiment Plunges To Lowest Level Since December 2009”. Being a person who likes to look at surveys and statistics, I began to read through the article. The article contains survey data and analysis conducted by Consumer Reports around various categories including consumer outlook, financial troubles, employment, stress and purchase behavior. Besides being an interesting read, at least to me, the article also got me thinking about how this information could be used to help increase the marketing effectiveness of a business.

The overall findings in the Consumer Reports study are a bit depressing:
• Consumer sentiment dropped to 43.4 a 5.1 point drop in only one month – this indicates a more pessimistic consumer attitude toward their finances.
• Financial difficulties were reported 10 points higher than the previous month at 60.6 – indicating many more households are experiencing problems paying bills.
• The Employment Index fell to 49 another drop from the previous month and reportedly the largest monthly drop in 2 years.

So what got me thinking about marketing in the midst of all of these woeful numbers? By reading between the lines and looking at the secondary points within the article, you can find data on which categories are faring the best. While the overall consumer outlook is bad, the report indicates the most optimistic consumer groups are ages 18-34 and households with $100k or more income. Consumer retail behavior was actually up from the previous month despite the negative outlook. Vehicle purchases remained static month to month and forecast for new car purchases are expected to increase in following months. Looking at these points, it is possible to see where your marketing efforts and money might best be spent.

So how flexible are you in your marketing efforts? Are you able to review data such as this and make changes based on your analysis or are you locked into doing the same things month after month. I am not suggesting you should make a massive change to your philosophy based on a single article or report but imagine how much more efficient capitalizing on current situations would be. The phrase ‘throwing good money after bad’ comes to mind; being locked into committing time and money pursuing markets that are returning less and less results or are predicted to do so is counter-productive.

So take a look at this study and let us know what you think. How flexible are your marketing efforts and have you seen a return on investment from being flexible? If you wish to see the article in its original post, it can be found here: Consumer Reports

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