With the release of subsequent Coronavirus & Recent Events Flash Study Waves, you can now compare audiences and insights wave over wave, giving you an understanding of how consumers attitudes are evolving as the pandemic continues.
You can trend any Coronavirus Flash attributes that are included wave over wave.
Trending this data is simple. Check out an example below.
Trending People who have Increased Spending Habits from March to April
I want to take a look at people who have been increasing their spending habits from Flash Wave 1 to Flash Wave 2, or March to April, so that I can market to them with the right messaging for a quick win because they are more inclined to buy right now.
1. From the Dashboard, navigate to the Segmentation Center and find Coronavirus Flash Studies below Additional Data.
2. Select March 22-29 for Wave 1 data and navigate to Financial in the taxonomy.
4. Select Change in Spending Habits in the taxonomy and then select the attribute for Increased.
You can see in the audience definition that there are 6.5M uniques in this audience.
6. Click Save Audience at the top of the page.
Name this audience something like "COVID-19 Flash Wave 1: Increase in Spending Habits."
7. Now, we are going to create a new audience. Select the + sign at the top of the page and Create An Audience.
8. This time, select April 20-26 for Wave 2 of the Coronavirus Flash Study.
9. Add the same attribute to your audience by navigating to Financial, Spending Habits, and selecting Increased in the taxonomy.
You can see in the audience definition that there are 9.3M uniques in this audience. Some good news! The amount of people increasing their spending habits went up in April by about 43% compared to March.
Save this audience and name it something like "COVID-19 Flash Wave 2: Increase in Spending Habits" to differentiate it from your first audience.
10. Now that your audiences are created, navigate to the Intelligence Center and add both of your saved audiences to your analysis.
11. You can start comparing these audiences using the Audience Introduction Report.
These two audiences have a lot of similarities - both are 18-24 years old, with household incomes of <$25K who like being admired and showing creativity, and value work beyond income.
There are also some differences - you can see that the Flash Wave 2 audience has more females and cares about social and professional status. They require a gym membership and value athletic accomplishments.
The Flash Wave 1 audience cares about eating healthy is driven by expressing individuality.
12. You can analyze these audiences using any of our other reports, to get more insight on the topics that you are interested in.
The Audience Comparison report is a good one for this scenario.
Looking deeper into their consumer behaviors in this report shows you the Flash Wave 1 audience cares more about innovative products while the Flash Wave 2 audience cares more about popular products.
13. To gain even deeper insights into their Consumer Preferences, navigate to the Analytics tab and select Bar Chart to easily visualize insights against both audiences.
Select Consumer Preferences as an insight.
From the insights pulled below, I can see that people who are increasing their spending habits most recently from Flash Wave 2 in April care a lot about Green Behavior, Reducing Energy Use, and Donating Money to the Environment. These are highly engaged consumers who prefer the companies that they shop at to be engaged and in tune with the public.
I can use these themes in my marketing and advertising to capture this group. Donating a percent of sales to an environmental group or other cause would be a great way to effectively reach this audience.
Trending audiences and insights from wave to wave is a great way to understand how consumers values and preferences are shifting as the pandemic continues. The reality is, what you knew a month ago about your consumers could have completely changed today. That’s why we are continuously surveying U.S. consumers to stay up-to-date on the real-time impact of the Coronavirus pandemic.