A new study found that 79% of consumers ages 18-65 in the U.S. say brands must actively demonstrate “they understand and care about me” before they consider purchasing.
“It used to be that brands had the luxury of customers conforming to their business models, which worked for many years. But the tables have turned. Today, consumers expect businesses to adapt to their needs and our findings are consistent across all generations, geographies and genders,” stated Jamie Gutfreund, CMO of Wunderman.
Other findings from the study include:
When it comes to data and marketing, most people tend to focus on proving effectiveness and ROI or targeting, which is “only 20% of what you can and should be doing with data, especially in a creative agency,” according to Baker Lambert, TBWA Worldwide’s global data director.
The four things agencies and advertisers are missing when it comes to using data:
IBM’s Consumer Products Study finds that consumer brand loyalty is fickle, and no longer associated with repeat purchasing. The report identifies four consumer clusters: Brand Enthusiasts, Brand Ambivalents, Product Purists, and Disassociated Shoppers. These groups differ in their levels of communication with brands, willingness to provide input, and degree of comfort in sharing personal data. Read more »