With Oxfam’s recent wealth inequality in Australia report indicating that 22% Australia’s wealth is now concentrated in the hands of just 1% of its population, and with a housing downturn looming over the heads of Melbournites and Sydneysiders, more and more consumers are reviewing…
If you don’t think about it too much, you may assume that any meal claiming to be ‘gluten-free’ has to go through vigorous testing to display this status, and if it’s not an issue that deeply affects you, you might have never considered any other possibility.
If your normal day consists of being constantly bombarded by social media, advertising, emails and work deadlines to the point of despair, then you’re not alone. Brands are having to compete harder than ever to capture and keep our attention with promotions and new “must have” products.
This tension is particularly potent for brands as they shape-shift to remain relevant. But uncertainty can be a catalyst. “Rather than grasping futilely after a sense of certainty that’ll never come,” argues entrepreneur and author Jonathan Fields, we must, “act without having all the answers.
Think Richard Branson. Think Oprah Winfrey. Think Steve Jobs. They didn’t listen to the haters. They connected disparate stimuli and potent influences to do what felt right to them. You never know, you might just set off a spark in others and inspire the whole world.
A.I., smartphones, the Internet of Things, chatbots… the pace of change appears to accelerating at an ever increasing rate. But data tells another story. The speed of change is in fact static. We adopt smartphones and computers at the same rate we did radios and televisions.
Consumers are flooded with choice. Concurrently, marketers are overwhelmed being all things to all people. “Smart niching” is one of the most effective ways of creating bonds between customers and brands. It means standing for something and sticking to your guns.