Overcoming consumer inertia.
This engagement was by My Hearing Centers’ direct response firm, Synergy Direct Response, a small Orange County DR firm curious about why their response rates were only one-tenth of one-percent – far less than the category average response rate.
Market research showed consumer inertia as the single biggest marketing problem facing the brand and category. And, the two primary sources of consumer inertia are “cost” and “vanity.”
This presentation was designed to provide Synergy and MHC with consumer and category insights.
Data show the primary target is affluent Boomers living in DMAs where MHC does NOT have offices. A key finding and contributing factor to low response rates.
The current category annual growth rate is about 5%, which is
roughly double the CAGR of the previous three years. This upswing is due to new developments in hearing aid technology, making the devices smaller, less conspicuous and more comfortable than previous generations of aids, which bodes well for Boomers’ vanity.
A review of competitive creative samples reflects a singular approach – all are crafting product price/promotion messages.
Competing on a price/promotion platform is not a winning strategy. There’s an opportunity to leverage Boomer vanity by positioning the MHC as a lifestyle brand and developing relevant messages around this issue.
Today, Synergy and My Hearing Centers are better informed and equipped to chart the future. For more details review the presentation below.