We recently asked 2,020 people around the UK about what they’re most interested in spending money on as national restrictions are eased.
You can read more details about the research and our findings in our article here, but one main point was clear. The people of the UK want to spend their money on experiences, not things, as we ease out of restrictions. That means restaurants, leisure, travel, and seeing their friends.
By comparison, the public are significantly less likely to want to go out and buy laptops, phones, tablets, cars, and other items.
What that means for customer acquisition
There’s a stark divide between sectors, with travel, hospitality and leisure being in very high demand, and almost everything else falling away.
How you make the most of finding new customers over the next few months depends on which camp you’re in – in the sun, and in the shade.
In the shade
When the public are excited to put their money into other industries, you still have a play available to you – tie yourself into that demand.
We can’t argue with what the public wants any more than we can argue with the tide coming in and out. But we can find a way to give people what they want.
Your promotions, your incentives, and your acquisition rewards need to align with a clear statement of demand from the public.
For instance, interest in buying new cars is very low, with only 2% of women and 4% of men excited to buy a new car. But when enthusiasm for experiences is so high, you can ignite interest in test drives if you’re offering leisure, dining, or travel as a test drive reward.
In the sun
For companies with a business in demand, it’s more about making sure that you get the most out of a busy period. If the public are going out to eat, you want them to eat in your restaurants.
We wrote more about how you can make the most of the busy period and find new customers here. But, to summarise our main points:
- Be shareable: The public are looking for experiences, so offer them experiences that they want to share with their social group.
- Promote yourself: Stand out from the crowd with promotions and deals that excite and attract customers.
- Collaborate: Where you can, collaborate with other businesses serving similar demographics to create better experiences for your combined customer base.
- Manage your reputation: Reputation directly affects new customer acquisition, and means managing your presence on reviews sites like Trustpilot.
What you can also do is start thinking loyalty. At some point, the novelty will wear off and the public’s attentions will turn back to the parts of life that aren’t travel, experiences, or hospitality. Other demands will take precedence in their lives.
The trick will be to take the customers who came to you while leaving lockdown and turn them into enthused, loyal customers in the future.
Over to you
Eventually, the frenzy will subside. But we’re in a challenging period with every business looking for their best footing for their recovery.
Achieving that footing means understanding and aligning approach to acquisition with what the public are most interested in.
If you want some help, or just want to ask us a question, you’re always welcome to get in touch. Use the live chat or call us during working hours, or shoot us an email any time.
