With the holidays in full swing, businesses are responding to changes in consumer spending to attract and retain customers.

While overall food spending is still down from pre-recession years, consumers are more likely to eat out at lower-priced restaurants rather than not eating out at all. According to QSR Magazine, many quick-serves feel prepared to handle the potential threat of a second recession with a continued focus on value-added offerings.

QSR Magazine also points out that the current state of the economy has generated two camps of consumers: free spenders and controlled spenders. Quick serves are now challenged to appeal to both groups through their marketing initiatives.

With continuing changes in consumer spending, marketers are compelled to be more creative in their efforts to reach customers. We’ve seen our customers evolve their marketing strategies to address these changes, and the following three approaches have been successful:

Market the value of your offering, rather than the price alone.

As conscientious spending has increased, consumers are seeking the best value for their money. Businesses increasing prices in our recovering economy should be especially cognizant of the perceived value of their offering. As Leslie Kerr of Intellaprice LLC recommends, remind your customers that your product’s value is not intrinsically connected to price.

In a similar vein, tailor your marketing efforts to your consumers’ current priorities. As NAWBO explains in this article, images of connectedness with family and friends now resonate with consumers more than the individualistic focus of campaigns characteristic of previous decades.

Build a relationship with your local community.

We can’t emphasize the value of Local Marketing enough. Particularly during this time of changing spending patterns, it is critical that brands build a foundation of loyal customers within their communities.

We’ve seen a substantial increase of Local Marketing efforts within our client base—including a large increase in the quantity and volume of localized promotional signage.

Marketers are also taking advantage of new strategies to attract and retain local customers, including social couponing sites, such as Groupon. Despite recent debates about the impact of daily deals on sustaining return customers, a survey recently released by Cornell University’s Center for Hospitality Research shows that daily couponing sites are effective in generating new customers that are likely to return. For more information about the survey results, read the full article from FastCasual.com here.

Integrate all of your messaging and marketing tactics.

With ever-increasing options for digital marketing and a sense of information overload on the rise, it’s increasingly important to communicate a consistent message across all of your marketing platforms. If you rely on only one vehicle to deliver your promotional messaging you may be missing an opportunity to solidify your brand with your consumer.  For example, communicating your social media presence and current offers via in-store print pieces that display your social media handles, along with any messaging around existing campaigns is an effective means to reinforce your messaging and appeal to a broader demographic.

Combining the above practices will bolster your marketing efforts and allow you to effectively respond to consumers’ changing needs.

What are your thoughts on responding to economic changes and shifts in consumer behavior? Would you add any suggestions to my list?