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In this episode, we meet Katrina McCarter, CEO and Founder of Marketing to Mums. Katrina is a world-wide authority on marketing to mums the most powerful consumer in the world.
Katrina has recently completed a comprehensive study into how Covid-19 has affected Mums.
- Key findings from her research study #ISOMums
- How the crisis has affected the purchasing behaviour of Mums
- How Mums are handling remote learning and work
- What you need to do to lead and work with Mums better
- Some keys to marketing and delivering services to Mums
>> DOWNLOAD THE #ISOMUMS REPORT HERE: www.marketingtomums.com.au
#ISOMums – Leading and Marketing to Mums
- I'm pretty obsessed with consumer behavior and I'm particularly obsessed with mothers.
- There are 6.2 million mothers here in Australia who are responsible for $132 billion in spending every year.
- Mums really power our economy. They're a vital part of this recovery out of COVID.
- I wanted to understand the short and long term impacts that home isolation has made on their buying behaviors. A lot of mothers are actually working mothers and I think it's important for employers and organizations to understand some of the challenges that mothers are currently facing so that they can really support and empathize with their teams.
- Mums embraced the slowdown that home isolation provided. They relished those slower mornings. That extra time with the family. They absolutely loved not being the taxi driver, not constantly on the go and being in the car. We heard from mums that were ditching the bra, reducing the makeup, and really getting back to basics, and without all those other distractions.
- This was a period of very deep thinking for mothers and their partners. We had them critically reassess and evaluate their lives. Set some longer term plans. They were evaluating what was working for them in their life and what wasn't.
- Affordability and family finances are key. We have seen that the number one thing keeping mums awake at night, through home isolation, was whether their partner was actually going to remain in employment. Whether they were going to be able to maintain their household expenses and derive income.
- We've been mapping this now for about five years. Initially, five years ago, when we first did this, we found that the number one thing keeping mums awake at night was the health, and well-being, and safety of their child. About two years ago we saw that change to them worried about living expenses and family finances. And now we're seeing that directed over to whether they're going to maintain their household income. So it's all around job security.
- This is a really big one for leaders out there. It's super important that they understand that this is a great concern for families right now. And any assurances, if they're comfortable giving that, this is something that their employees are looking for right now.
- If you're a brand right now, there are real concerns around family finances. They're very cautious about their spending. We heard from mothers that they were looking to save money. They were actively re-looking at their budgets. They were making changes. There were fewer takeaways. They were starting to cook more from home.
- They are looking at different areas of their lives where they can be cutting down some costs.
- Brands need to be really aware of this. Payment plans could become of great interest and pricing strategies should be looked at. But it's all about demonstrating value right now to mothers, as consumers. You really need to demonstrate the value that you have on offer.
- Sustainability and minimalism emerged as a trend in mothers over the last few years. We saw some great acceleration, through home isolation, on the desire for sustainability and supporting brands that have sustainable practices.
- Mothers were going through their wardrobes, clearing out what they no longer need. Many were getting chooks at home for the first time. Planting a vegetable garden for the first time. They're really becoming very aware of the origin of their clothing and the types of fabric, the work practices of the businesses of where these clothes might be being produced. This is really getting a lot of attention right now. Brands must think about supply chain and being very conscious right now.
- Another finding was that 75% of mums were actually proactively addressing their increased stress levels with engaging in self care. This is something that's really difficult to get mums to do. So this was really quite surprising that mum was starting to put herself first and proactively managing her health. She was talking about she's sleeping a whole lot more. Virtually engaging with family and friends. She was exercising more and she was also reading a whole lot more.
- This is the first time we've seen mums say, “I'm not going to take my health for granted and I'm making this a priority.”
- Mothers really subscribe to, it takes a village to raise a child, and they really missed the opportunity for their child to have engagement and connections with other family and friends. They cited, actually, that the worst thing about isolation for them was a lack of connection. And this is a really important one for leaders. They are really seeking connection
- Everyone wants a bit of mum's attention because she is so powerful, and controls so much money, but the messaging is very serious. It's very ominous. There's a lot of fear-based stuff out there. She is actually responding incredibly well to things that are a little bit lighter, more fun, and more playful, and entertaining.
- If you want to get some cut-through with your brand, it's about acknowledging and showcasing how she might be feeling, but it's doing that in a lighthearted way
Final message of wisdom and hope for future leaders
Be bold. It's something that I live in, COVID or not. It's about … we need to take calculated risks. We need to put our hat in the ring. If we don't do that, and step out of our comfort zone, and really challenge ourselves, the magic doesn't happen unless we do it. So I'm a really big subscriber in pushing my boundaries, learning to get really uncomfortable with that discomfort. And, to do that, I need to be bold and I encourage leaders to really be bold through this period.
MINI-MBA IN LEADING HIGH PERFORMANCE TEAMS
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