Customers are buying less from current providers, always keeping one eye open for something new. Out of the downturn, consumer spending across most major industries and key markets has been growing in the past six years. Yet during that time, the proportion of consumers in our study who expressed their intention to buy less from their current providers has increased, indicating that most companies have failed to tap into this spending growth.
Five years ago, 78 percent of consumers used at least one online channel when prospecting. Today, 88 percent do—and four in 10 want even more digital interactions than what companies are providing. Two-thirds said the number of companies or brands they consider for purchase has increased significantly compared with 10 years ago. Digital has become more important to consumers across the board. Some consumers have completely “gone digital”—they prefer to interact with their providers via online channels at every opportunity and are loathe to be forced into conversations with humans.
Mobile devices make up an increasing share of TV and video viewing with 72 percent of consumers using mobile devices at least weekly for video viewing. Even late adopters are becoming advanced video users with as many as 41 percent of 65–69 year olds studied stream on-demand/time shifted TV and video content on more than weekly basis.
The “Great Recession” officially ended in 2009, but budgeting is still on the menu for consumers even though they have a sunnier outlook on the economy and their personal finances. Results from Information Resources, Inc.’s (IRI) Q2 2013 MarketPulse™ survey indicate that consumers have settled into the “new normal” of conservative purchase behaviors and attitudes, so consumer packaged goods (CPG) marketers must keep their finger on the economic pulse and find innovative ways to entice consumers to loosen their purse strings.
Dan had been a social media marketing manager for a little over 6 months. He knew the platforms and how to engage consumers so when a recent post, about a new product, went viral he was very excited to inform management. The excitement was short lived. While Dan was promoting his team’s efforts on social media a senior VP was quick to point out that their brand was still losing market share to competitors. Thus the disconnect…
There is some lopsided thinking out there. There is a “belief” that just because a consumer becomes a customer of your brand that they want to have a relationship with you that extends beyond the 4 P’s. For a lot of brands this just isn’t true. Just because I like pudding doesn’t mean that I want to have a relationship with you on Facebook.
Flurry CEO: The end of PCs is coming? Sorry but he is way off. First off the sale of Chromebooks and new, inexpensive Windows laptops is a great indication that the PC is not dead. In addition, Apple continues to set sales records with Mac’s and 76% of users still use their PC’s in November.
Dear social media: You came along and gathered millions of users around the world and shamelessly I thought I could use you as jus another advertising and promotional channel. However, consumers had other ideas. They wanted to use social media to take back the power brands had over them. They wanted to use social media as a channel to voice complaints and tell other consumers why they shouldn’t do business with us. What was I thinking?