The Angus Reid Institute recently released data describing how Canadians are responding to the price increases they’ve experienced over the past year.
Since July 2021, prices have risen by 7.6%. Understandably, most Canadians are decreasing their spending wherever possible to make ends meet.
Of the people surveyed, four out of five say they’re cutting spending by:
- Trimming discretionary budgets
- Delaying major purchases
- Driving less
- Reducing travel
- Deferring saving for the future
- Scaling back charitable donations
Overall, 27% of Canadians have already chosen to reduce their donations and charitable giving to help balance their budgets.
Why This Matters
Not surprisingly, people are stressed whenever money issues arise and inflation threatens family budgets. The instinctive reaction for ministry and non-profit organizations during these seasons is to reduce expenditures by cutting marketing and messaging budgets and ultimately sending fewer messages to their audiences. Ironically, this perpetuates the problem and people end up knowing less about your organization at a critical time.
Strategic shifts in your plans are critical at these times and history has proven that organizations that have survived and even thrived through tough financial periods made sure that people consistently heard their name and were reminded of their purpose.
Now is the time to plan creative Giving Tuesday campaigns, conduct more interviews with media partners, schedule media campaigns to tell your audiences about your great work, and stay top of mind through partnerships.
While others may be pulling back, now is the time to authentically convey your message clearly and frequently to your key stakeholders. They want to know that you still need and appreciate their support.
Click here to learn more about the toll of inflation, from Angus Reid’s survey, and consider if and how your messaging needs to change over the coming months.