Wealth Actually

Ep.51 THE AMERICAN CONSUMER’S NEW PREFERENCES

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The country is in the midst of a debate between confinement and distancing in the name public health and the reopening of the country to re-establish the health and stability of the American economy. To that end, Haven Pell (PUNDIFICATOR) and I thought it would be interesting to discuss the ramifications of the choices American businesses are making right now. These are choices related to message, action and communication. Tracking off a study done by Glover Park Group in Washington, we look at some of the trends found in polling of what is important to Americans right now and what will be important in their decision-making around firms and commerce going forward.

COVID- 19: An In-Depth Conversation with the American Voter

https://assets.documentcloud.org/documents/6821088/GPG-COVID19-Caucus-Insights-0326202.pdf

Here are some of the main points that we discuss:

  • Business actions today will shape corporate reputation for years to come.
  • Americans say they will remember who stepped up and made sacrifices for the greater good.
  • Coronavirus has put debates on the social safety net and paid leave front and center.
  • Americans want industries who receive aid to repay that goodwill in how they act and behave.
  • Many worry about their health and the economy but prioritize the needs of those on the frontlines.
  • Americans are grateful for services of essential employees and medical professionals and demand we do more to support them.
  • Be deeply empathetic.
  • It’s not business as usual, so don’t communicate as if it is.
  • Identify what relevant capability or area of expertise you can deploy to play your part.
  • Pass the loyalty test.
  • Remember the lessons of 2008.
    • https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT
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    Wealth ActuallyBy Frazer Rice
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