55% of consumers said that they make aspirational purchases, like buying designer items or expensive status symbols, less often now than they did just five years ago. And according to a report from NPD Group, the idea of aspirational brands is currently undergoing a major shift. Where consumers once were willing to stretch their budgets to make purchases based on status or style, many are now more concerned with practicality and saving money.
The biggest gap in 90% of marketing departments is not data, it’s people who can successfully interpret the data and recommend actionable strategies to leverage current consumer trends. Continue reading
There is a lot of money being wasted on ineffective marketing. Why? Too much data, too many meetings to try and understand the data and too many brands, allowing their agencies to lead them on a road, that they have promised, is lined with gold. Take away all the data, all the meetings and you’re still left with a fundamental of marketing, the brand promise. Continue reading
According to research marketers are being held accountable for every dollar they spend but is that enough? All you have to do is watch an hour of TV to realize that there are still a lot of networks and brands that just don’t get it. Continue reading
There are those that use social media as a legitimate channel to engage people and there are those who see it as a way to inflate huge ego’s and self promote their books so they be legends in their own minds.
In an article in the NY Times Gary Vaynerchuk does a good job of promoting his new book and states that social media is a great way to guilt people into buying stuff. In fact, he is described as a tireless self-promoter. There is little question that Mr. Vaynerchuk is a master at promoting himself. But what about his clients? They tend to regard him as a colorful savant, pointing to his immense online following and his track record in spotting companies like Twitter and Facebook, both of which he invested in long before they went public. Did anyone think to ask about the business objectives? Continue reading
You would think that brands have the fundamentals of digital marketing down to a science, but our consulting group keeps seeing the same mistakes over and over. Here is a list of some of the mistakes we see. Continue reading
Only a quarter of all respondents, in a survey, globally are satisfied with their experience participating in research, indicating researchers lack of prioritizing the respondent experience shows through to respondents.