Cost of living crisis: brands will need to show they understand and can help

As the pinch becomes a squeeze consumers will be turning to brands and services that help them stay in control.

A great example of this is Plum a money management app that enables you to save, invest, budget and sort your household bills, all in one place by connecting all your bank accounts and credit cards (using the power of open banking) to get a clear overview of your money in one place. They promise to help customers manage their income, spending and debt – making any spare money work harder.

It’s a proposition that feels like it encapsulates the current zeitgeist but, on top of this, they have got their communication spot on. Once you’re in the fold, they continue to position themselves as being on their customers’ side, providing links to other apps and services that can help their customers stay in control in their fight with the rising cost of living.

It’s a question all companies should be asking - how can you show your customers you understand them and are on their side?