From Passion to Compassion Marketing
I was reading the latest copy of The Economist this morning
and found a great quote that I must pass on. The article entitled,
"From buy, buy to bye-bye" chronicles the change in consumer behavior
stemming from the economic downturn. First, marketer John Gerzma peaked
my attention with the quote I stole for the title of this post, "There
will need to be a move from passion to compassion in marketing". If
you're in the non-profit sector, what does this mean?
Here's what really caught my attention:
The downtown will also accelerate the use of social media, such as blogs and social-networking sites, by consumers looking for intelligence on firms and their products. As trust in brands is eroded, people will place more value on recommendations from friends. Social media make it harder for brands to pull the wool over consumer's eyes, but they also offer companies a powerful new challenge through which to promote their wares and test new products and pricing strategies.
...For one thing is clear: this recession has triggered a wholesale reappraisal by shoppers of the value their habitual brands deliver.
What again, does this mean for non-profit organizations and their brands? I think there is great opportunity here for organizations to position themselves in the public psyche as the most genuine and most compassionate 'brand' for them to associate with. The trick? Engage, engage, engage.
Benjamin