How to gain consumer confidence

Chris Jones is founder of the Knot Agency Chris Jones is founder of the Knot Agency
Industry Database

Consumer confidence has been on a downward trajectory and is currently at a six-year low with fears over job security, worldwide trade tensions and the continuing political challenge we find ourselves in, weighing on public sentiment.

With a large proportion of leisure marine spend being relatively discretionary, to make the decision to batten down the hatches and take a defensive business approach is understandable.

However, I believe you should see uncertainty as an opportunity and instead take a proactive attitude.

Take advantage of your competitor’s retrenchment and boost your market share.

Our market place is not going to stop spending, people are just going to consider their purchases far more carefully. Here are some ideas.

  • Continue advertising to make the most of less crowded channels, enabling your brand proposition to stand out and in the process increasing perceived brand quality.
  • Highlight the value of your product to the boat owner and why they cannot afford to put off buying it on your website, in press releases and advertising.
  • Reinforce the reasons to choose your brand over others and also clearly justify any price premiums.
  • Update your in-store POS, converting purchases as the final decision is being made.
  • Ensure you use clear ‘calls to action’ to be the voice that consumers hear.
  • Exhibit at regional shows around the UK to engage directly with consumers.
  • Get creative with your promotional ideas to stand out.

Marketing actions during times of uncertainty will make the difference in how your business performs in the present and future. Have a brainstorm session with your team today and develop your creative marketing plan for 2020.

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