The crisis in consumption is obvious when you look at the consumers spending patterns, and it has changed forever, bad news. But the most serious problem that the crisis has generated is not the consumption decrease but the consumer’s deep distrust: consumers do not trust companies anymore.
Before, in the 70’s, if a business had profits was considered good for society, but now it is not enough, and consumer has the tools to say it loud thanks to the Internet, and they are saying it to us.
So we need a change, and we (Ad agencies) have a weapon to do so: strategy based in new consumers. We have to reconnect with them. Publicis founder, Marcel Blanstein said: “I get my best ideas from talking to people”.
And what do the consumers want? The million dollar question. I recommend you to read Spend Shift by John Gerzema and Michael D’Antonio, they develop over this change and opportunities.
According to the book, consumers want the companies not only add value but also have values. Consumers know now that they have more power than only the money they give to companies, they realize that when they buy something they are also communicating their values and rewarding those companies that reflect them. So people now are pushing companies to deliver higher quality and responsible behaviour, they are buying a better world. Great news.