The world continues to face great economic challenges, such as surging inflation, which leads to rising bills and financial concerns. We’re turning to Google Search for answers to ease our worries, manage our finances, and plan for the future. In Turkey, for example, search interest has increased by 200% for “yıllık enflasyon” (“annual inflation”). And in France, search interest for “livret épargne” (“savings account”) has risen by 55%.
We are feeling the financial strain
One issue that is causing particular financial concern this year is rising energy prices across the region. In Poland, search interest for “ceny energii” (“energy prices”) has grown by 265%. And in the U.K., search interest in “energy bills” has grown by 500%.
People have also been especially interested in pensions this year. Some have reassessed their priorities in life and are looking to retire early. Others are researching early pension payments to make ends meet in the face of financial challenges.
In Denmark, search interest for “efterløn udbetaling” (“early retirement payout”) has grown by 260%, while in Spain there’s been a 150% growth in search interest for people asking “cuanto suben las pensiones” (“how much do pensions go up”).
Action for marketers: Deliver value, to customers and the business
As we’re collectively worried about the economic outlook and personal finances, it’s important to provide real value to your customers and the business as a whole. Consumers expect brands to be helpful and they will also place more importance on companies showing their value, for example with special offers and discounts.
At the same time, as businesses feel the pinch alongside individuals, marketers need to work closely with their finance teams to ensure campaigns are contributing to the bottom line. Set up a joint goal, such as revenue or profit. And assign values to different conversions to understand what you’re collectively working towards. Once this is set up, you can tap into first-party data and automated solutions to drive further efficiency and deliver value for money.