An Interesting Conversation With The Folks at Nickelodeon

Posted by Rahna on November 17, 2008 under Consumer Research | Be the First to Comment

The new consumer requires a new marketing plan. Last week I had a meeting with the research team at Nickelodeon’s headquarters in New York to talk about the possibility of doing some focus groups or other proprietary research for them.  We were talking about how interesting it is to be in research right now.  The massive, tectonic-plate-sized shifts in economic stability, combined with the political changes underway, have made this an incredible time to be studying consumer insights.  Consumer confidence has been shaken to the core and people’s faith in their own personal stability is impacting behavior dramatically.  

For business communities both large and small, this is complicating the decision-making process. Even research done six months ago may not be reliable. Because I work with both large and small businesses, I see the impact the broad-sweeping impact this is having.  For large companies, they are going to want to take the consumer’s temperature early and often, in order to keep up with the massive shifts in buying behaviors.  For start-ups, they cannot rely on industry information published earlier this year.   

Even so, there is reason for optimism.  Amidst the chaos, opportunities exist.  Those who can react quickly have an opportunity to meet the needs of this new, uncertain consumer.  Are you in an industry that serves career counseling?  Do you sell a low-cost alternative product or service?  Then now is the time to re-double your marketing efforts!  The team at Nickelodeon has found that their offerings are needed even more now than before, as television represents a low-cost entertainment vehicle that consumers can afford.  If you’re an advertiser, this means you should be considering an even bigger buy than before!   

By the way, we love to conduct consumer research, especially primary research like focus groups.  If you know of someone in the research department of your company that might be looking for savvy, consumer-oriented strategists to help them monitor their consumer target’s shifting viewpoint, please let us know so that we can reach out to them! 

What is the biggest impact that you have seen in your business?  We’d love to hear from you.