In spite of their differences, certain similar trends have emerged with CFOs and GOGs since 2010. Among both groups, more feel that they are doing an excellent job in managing their responsibilities than they were two years ago, that their lives are more balanced between work, family, and personal needs, and they are happier. In addition, they are almost equally concerned about four key areas in 2013: job market, fuel costs, healthcare, and education. Happiness aside, CFOs and GOGs continue to look for more time for themselves, relying on analog methods to manage their schedules.
Geography also plays a significant role in these differences. For example, CFOs in Los Angeles are more likely to personally drive the purchase of a new car than their counterparts in Ohio and Texas, who share in the decision making. GOGs play a bigger personal role in car buying in New York, but more GOGs in the Midwest and in the West/Southwest share in the decision making. In addition, CFOs play a more significant role in determining which fast-food or sit-down restaurant they will visit for a meal when they live in New York or Los Angeles; GOGs hold more sway over that decision in Texas.
When it comes to building brand trust, which is required before CFOs and GOGs make a purchase, a combination of television and online marketing is required to establish credibility depending on the audience. For example, an Internet-only brand strategy may not effectively reach CFOs. They rely on TV to validate a brand and are wary of information received from the online channel alone.
“These findings represent an unprecedented opportunity for marketers looking to connect with these audiences on behalf of their brands,” added Ms. Hogan Gillman. “Marketers need to understand the distinct ways that these two groups are living their lives and build their creative platform around these rich insights. The knowledge we are gaining and sharing makes the investment in this study extremely worthwhile.”
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