The pandemic period has become an absurd situation for many people. Especially when the government enforces the Emergency PPKM rules, various professions receive the impact. Office employees, UMKM players, and online motorcycle taxi drivers have the same concern: will they still be able to survive?
During this Emergency PPKM period, there were many incidents that showed that everyone wanted to survive. Starting from the ojol trying to break through the barriers on the road, to the roadside stalls being patrolled by officers because they were deemed to have violated the big rules that were being implemented. This seems to make a lot of hope eroded.
Connected with the things mentioned earlier, we pay attention to young people, especially those who have incomes that have the label of hedonism. Are they still easy to waste their money during a pandemic like this? Or are they planning a strategy to survive?
Reporting from kompas.com, we found interesting facts. Related to the strategy of the youth to be able to survive during the pandemic and emergency PPKM. They saw, analyzed, and considered all the possibilities that could happen to him at a time like this, even for the worst possibility.
Therefore, they are currently prioritizing three things:
Preparing an Emergency Fund
Referring to the unpredictable circumstances, young people need a ‘lifeboat’ to save themselves in the worst scenario. Such as losing a job, income, until their business went out of money.
Discipline With Financial Budget
They are no longer careless in spending their income. There are calculations to be made so they know they can survive in these circumstances. One thing that is important, they are disciplined in implementing their financial budget.
Find Extra Income
This pandemic and emergency PPKM make them have to increase the possibility to continue to survive. Therefore, they begin to hone other abilities or skills that are in themselves to be able to earn additional income.
Interesting Insights from Young People’s Effort
From the three things they prioritized to deal with this pandemic and emergency PPKM, there are insights that can be analyzed more deeply so that they can be used as references for brands to continue to get youth attention.
One of the mindsets of young people like FOMO (Fear of Missing Out) is a real thing. However, related to this situation, the mindset has changed to FORO (Fear of Running Out). FORO is a very relevant thing or fear during this situation. FORO means that young people also don’t want to run out of money.
So based on this mindset, brands from the banking sector, fintech, to insurance can do many things.
What Can Brands Do?
Related to the insights above, of course raises questions such as: how to use FORO to sell financial products? It should be noted beforehand, that FOMO can be fought by inviting young people to be more sensitive to trends and something new.
Therefore, FORO can be countered by inviting them to increase the amount of their savings. Brands can invite young people to get more value by using the products or services they have.
However, the brand must also pay attention to several things. One of them is how to communicate. This point refers to the fact that today the youth are smart. So, as a brand, you must be smarter than them.
Instead of inviting them to get more value, communication or narratives such as multiplying money can no longer be directly accepted by them. This fact will certainly remind the brand with the communication or narrative built by Jouska.
So, what fundamentals do brands need to win the trust of the youth? One of the keys is transparency. Transparency can be converted into the right way of communicating for now.
For example, a brand can explain the benefits along with all the risks associated with its product or service. This honesty will make the youth appreciate what the brand has done for them.
After all, honesty is a sexy thing for an industry that is notorious for not upholding transparency itself.