Is telling someone they need your product as effective as them realising that on their own?
Becoming a parent is, for many people, what gives their life meaning. But, let’s not beat around the bush – it’s an expensive business.
The costs of starting a family can be astronomical. The average cost of raising a child to 18 is estimated to be £202,660.
The cost of parenthood doesn’t change things for most people – they just have to ensure they spend their money as wisely as possible. But as parents commit to do as much as they can for their new family members (at a manageable cost), they often go on to become the ultimate product researchers!
Expectant parents spend big
The money drain starts even before children arrive. Expectant parents have some tough purchasing decisions to make with a cot, pram, car seat and other big-ticket items on the list.
It all adds up to first-time parents spending £3 billion a year, averaging almost £10,000 on each first year of life, as per Ergobaby UK research.
But this level of spending can come as a bit of a shock, with three quarters (73%) of British mums and dads quizzed by Ergobaby saying they were unprepared for how expensive a baby could be - with a third admitting they didn’t set any kind of budget for baby-related items.
Parents get frugal
Once the initial excitement of having a baby has calmed down – and the realisation of how damn expensive it is – parents can start to get a bit more frugal with their spending.
That’s not to say that they aren’t still attracted to products that promise to make their life easier or help with their child’s development – everything from sleeping aids to indoor baby climbing frames are on their radar.
But, with more time on their hands now (in the early days, at least) – having paused work – and a better understanding of what they actually need, they can better scrutinise products.
All products hereafter are purchased after extensive research, recommendations, review reading, and testing, which can often lead to a long customer journey.
For brands, it’s not just about reaching these parents – it’s about communicating with them in a way that shows you can be trusted and are not merely selling to them.
Children become influencers
It’s not long before children themselves start to have an influence on their parents’ purchases. In a stat unsurprising to anyone who is a parent, almost three quarters of parents say they’ve been ‘pestered’ by their children for something they’ve seen.
Of course, children are a little less discerning about spending than those who are earning it – but parents will often do the research for them, trying to find out if the toy, book, game or whatever it might be lives up to the price tag.
Parents won’t just look at the entertainment value, but also whether it’s safe, educational, durable and even sustainable. For brands, it’s about making sure their products not only tick these boxes but communicate them in a proactive way, via trusted media.
And it’s not just physical products that children have a say in – according to research by Meta, 70% of parents say they also have an influence on day-out plans, from where to go on holiday, to where to eat out and even where they live. This is modern parenting - children really are the ultimate influencers.
Grandparents have their say
Parents aren’t the only audience to target. There are also excited new grandparents looking to spoil their grandchildren.
Naturally, this audience are often only too glad to take recommendations from their children and their grandchildren – but that’s not to say they won’t do their own research as well, and buy products off their own back.
With this audience holding the most wealth in the UK, it is estimated that grandparents spend a collective £5 billion a year on their grandchildren.
So, how exactly do you reach these different – often lucrative – audiences in an effective way?
Long-form content in the publisher environment is ideal for serving parents and grandparents with the key information they need to make a purchase.
By placing your branded content into media that is familiar to the audience, you’re immediately telling them: you can trust us.
Ultimately, every parent wants to be able to make a quick purchase – but they still need convincing that they’re making the right purchase. With branded content you can help them do both, as not only are you providing them with all they need to hear, you can also direct them straight site to complete their purchase.
