SUMMARY: According to the Havas Meaningful Brands study “75% of brands could disappear overnight and most people wouldn’t care or could easily find a replacement. In addition, only 34% of consumers surveyed globally think companies are transparent about their commitments and promises”. This study needs context and has several flaws.
WHAT’S UP? “Board To Death,” a new report from Bango, reported that corporate CEOs have issues buying into digital Marketing tactics, specifically social media marketing. The report found that 62% of CEOs believe too much of their digital marketing budget is wasted on activities that don’t deliver meaningful results. Ouch…but true.
QUICK DIVE: For the past three years, Setup has conducted a Marketing Relationship Survey to take the pulse on how Companies and Agencies operate and work together. Setup surveyed over 300 Marketers from both Brands and Agencies – 66% of Brand respondents are in Director, VP, or C-level positions, and 55% of Agency respondents are at the Executive level. The responses are puzzling to say the least.
KEY THOUGHTS: The CMO Council has published a report based on a survey of marketing executives, and it clearly shows why there is so much bad marketing out there. Instead of getting their names in trade magazines, perhaps they should be fostering a culture of learning and retaining talented people.
QUICK READ: Consumers don’t have time to follow all the brands in their pantry but to say that “in the real world, consumers are massively not joining conversations about our brands. They are not committed to having relationships with them. They do not want to “engage with our content,” and are not fascinated by our “brand stories.” They do not consider themselves part of a “community” or “tribe” that has our brand at the center” is a mistake.
SUMMARY: Through an improvement in perception and offerings, private label products have become sought after instead of afterthoughts. In the past year, 55% of shoppers have made a private label purchase. The top reason for doing so was liking the product (56%), followed by the product being cheaper (52%).
QUICK READ: McKinsey still acts like they know everything but just out of college analysts don’t really know how to quantify consumers’ behaviors in an era when they can’t be quantified. Some changes in the way consumers shop are taking place but if you respond too much to the other side you’re going to lose market share.
QUICK READ: Behind what brands report to the street, behind every decline in sales, behind each drop in customer satisfaction scores, there are millions of independent decisions taken by consumers on what they want to buy and how they want to buy it. Unfortunately, most brands will miss the warning signs. Here are some findings from a Deloitte Report on changing consumers.