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Monday, January 05, 2009

Making money out of anger

Well done the guys at Angry Britain who have found a way to make a few quid out of providing angry Brits with a channel for their discontent. I am sure the Web site doesn’t generate much in the way of advertising revenue but it shows that the recession does provide business opportunities.

Over the Xmas I heard and read a lot about life enhancing benefits of being broke and without a job. How the recession will rectify our work life balance problems, how we will all discover our inner-selves, ditch our fascination with buying things and generally become much nicer people. These claims are laced with liberal helpings of physco babble and the musings of people who are all sitting on a nice fat bank accounts and who are insulated from the realities of today’s situation.

I am ashamed to say that a lot of this nonsense comes from the 50-plus who still retain their idealistic notions from the 1960s and having benefited from all the capitalist world has had to offer and who can, from a financially secure position, point at the economic problems and natter on about people being selfish and obsessed with buying things.

Rant over. Now as marketers you have a decision to make about the way the older market is going to adapt to the recession. As they view their diminished pensions statements and the cut-down value of their property, how are they going to react? My bet is on ‘anger’ not spiritual enlightenment. Over time they will adapt and then look at how best to live in the post–recession world, but that will take time.

As you return back to work there is only one issue you as marketers have to deal and that is ensuring you understand how the behaviour of your customers is changing as the economy continues its dive into the abyss.

This is not the place to debate why it is happening but it is the place to understand what it means to the older age group. For that reason you are going to read a large number of postings on that subject. I promise wherever possible to look for the positive side of things and not add to mood of despondency. Happy 2009. Dick Stroud

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