Joe Maglio: As consumers pivot, brands need to do the same
On Monday, McKinney CEO Joe Maglio led an ANA Daily Drop webinar called, “The Next 6 Weeks for the Next 6 Months.” In it, he presented research fielded by McKinney that laid out what people are thinking as states are beginning to “reopen” and restrictions are lifted. The goal of the research was to establish a baseline as of April 30th — the study will then be fielded every few weeks to see how mindsets evolve.
The nationwide study included a survey of 1,000 individuals, as well as in-depth interviews with a generational cross-section of consumers, providing real-time snapshots of the country’s state of mind as stay-at-home restrictions ease. Among other things, it reflects the hopes and fears as well as the entrenched values of those responding.
After providing the groundwork with the survey, Maglio used it to demonstrate the kind of thinking and planning he believes is necessary for companies to move forward and thrive. Because It’s critical for brands to understand the new perspective and different thinking of consumers and meet them where they are now — and where they’re headed — not where we’ve all been.
In conclusion, Maglio provided three key takeaways:
1. In a time of uncertainty, brand trust has never been more critical.
2. A conditional plan is the only way to ensure you can pivot quickly.
3. Drive efficiency for long-term growth vs. short-term cost cutting.