When it comes to the dynamics of the marketplace women have changed the game. Forty‐ two percent of women agree, “I regularly influence friends and family to buy or not buy a particular product or service,” – up significantly from September 2008. In addition, 54% agree “I feel it is my responsibility to help friends and family make smart purchase decisions.” Women today are consumers, broadcasters, and amplifiers of ideas in the marketplace; expect these recommendation and word‐ of‐mouth dynamics to continue intensifying.
Did you ever get the feeling that most brands are farting in the wind when it comes to their marketing? Every week more and more marketing executives are taken for a ride by people whose only accomplishment is getting people to buy their book. First, it was social media hype, then big data hype. What’s next?
Forrester found that visiting a company’s website is the number one way fans prefer to stay in touch with the brands they love, outranking Facebook all the way down at number five. While their Facebook pages are brimming with exciting, yet unseen content, brand websites may be neglected – at a high cost to community interaction.
NBC didn’t expect the backlash against Brian Williams but people, via the Internet, attacked Mr Williams “lie” and would not let the matter fade away until NBC was forced to suspend him for 6 months without pay. Mr Williams mistake was making himself more of a story than the news he reported, but if there is one lesson to be learned, it’s that no matter how popular you think you are a lot of people love to bring down brands and people.
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.