“The definition of insanity is doing the same thing over and over and expecting it to come out different.”
The economy is making the consumer more frugal (Here’s another article on the topic – and since I just watched another commercial for “the lowest prices on big screen TVs, I thought this excerpt was appropriate…)
“You put your priorities in different places because you never know if you’re going to have a job tomorrow,” the legal secretary says. “You think twice now. I have six TVs in the house. Do I really need a new flat screen?”
This change should be motivating you to re-examine your target audience, your messaging and your offers. Obviously, this legal secretary had targeted by TV resellers – but perhaps the retailer might want to focus on other products and services or even move on to someone that has a stronger need for TVs?
This ‘new frugality’ certainly means that your messaging must clearly communicate benefits that address this buyer need. Beyond ‘our price is low so you save’, how does your product and/or service address this need? Are you making that clear to you target audience?
