Consumers & consumer behavior

Consumers always looking to dump brands

screenshot_173Customers 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. Continue reading »

The growing “switching” economy

PS_0770W_ELEMENT_SURPRISE_tFive 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.

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How advertisers ruined TV

old-television1Mobile 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. Continue reading »

Recession has changed consumer behavior forever

grocerystorecartandwatermelonThe “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. Continue reading »

The disconnect between engagement and sales

Brand-DisconnectDan 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… Continue reading »

The biggest mistake brands make with social media

Unknown-1There 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. Continue reading »

Social Media: Look what you did!

UnknownDear 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? Continue reading »

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