Future of Consumerism - MITX FutureM Conference 2010 - AMP Agency Presentation

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A presentation on how consumers' consumptive behavioral patterns are changing, necessitating change in the way modern marketers work. The sales funnel is now antiquated, and the customer decision journey has subsumed its place as the standard framework for thinking about consumer behavior.

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Future of Consumerism - MITX FutureM Conference 2010 - AMP Agency Presentation

  1. 1. #futureM#buybuy
  2. 2. AMP Agency: Inspired AMP Agency is a full service agency that’s inspired by audience insights   to produce creative, results‐oriented marketing solutions for our clients.  EXPERIENTIAL MARKETING We are inspired by your consumer.  How they make purchases and interact with brands.  From these key  insights, our team utilizes the latest techniques to create memorable engagements that naturally bring  your brand into your consumers’ lives.DIGITAL MARKETING AMP knows digital marketing.  We’ve brought together a team of pioneers who have been doing it since  1993 – the best in breed across search, media, IPR, social, interactive and mobile. And actually do it all–in  house.   SHOPPER MARKETING AMP’s shopper marketing professionals align consumer insights with retailer intelligence, seamlessly  integrating digital to in store purchase.  Our plans are strategically created to align with your shoppers  path to purchase from pre‐purchase rituals, to in‐store engagement and post purchase reflection and  loyalty.
  3. 3. AMPlified Study AMP Agency’s proprietary series of studies on today’s most relevant  topics. This includes a sneak peak at what is to come from our latest  AMPlified Study titled Behind the Buy. A nationwide online survey with  over 500 consumers to understand and quantify: – How much research they doing – Where they are researching purchase decisions – Which factors have the most influence in the decision process
  4. 4. AMP Insights Lab AMP Insights Lab is AMP Agency’s team of doctors, scientists and  doctor‐scientists dedicated to predicting the future. Along the way, they  will also look at the intersection of consumerism and technology;  helping brands and marketers make sense of all things tech and trend.  The Lab’s goal is to make the process of learning about and  implementing technology as simple and straightforward as possible.
  5. 5. Information Exposure
  6. 6. Source: How much information?  Report on American Consumers, University of California,  at San Diego, 2009
  7. 7. “I always do research” 64% 44% 39% 36% 31% Fashion Consumer  Food & Beverage Health & Beauty Baby ElectronicsSource: AMPlified 2010:  Behind the BuyQ:  What makes you decide you need to do research in the ___ category? Check all that apply.  Answer shown is “I always do research.”
  8. 8. Information that has a heavy influence Fashion Consumer Electronics Food & Beverage Cost Comparison 65% Performance 56% Quality 61% Fit 62% Quality 54% Taste 54% Cost Comparison 52% Cost Comparison 52% Quality 61% Consumer Reviews 39% Durability Reviews 39%Consumer Reviews 44% Funcationality Reviews 37% Consumer Reviews 38% Funcationality 35% Trends 37% Natural / Organic 34% Trends 32% Latest Technology 35% Trends 28%Durability Reviews 32% Durability Reviews 35% Funcationality 26% Versitality in Use 29% Versatility in Use 29% Versatility in Use 23%Source: AMPlified 2010:  Behind the BuyQ:  What degree of influence do the following have on your purchase decision? A: Heavy Influence
  9. 9. Information that has a heavy influence Health & Beauty Baby Quality 64% Quality 68% Durability Reviews 47% Performance 55% Cost Comparison 54% Consumer Reviews 47% Durability Reviews 48% Versatility in Use 46% Consumer Reviews 47% Cost Comparison 37% Environmentally Friendly 41% Funcationality Reives 35% Trends 41% Environmentally Friendly 30% Funcationality Reviews 39% Trends 30% Versatility in Use 39% Natural / Organic 24% Natural / Organic 37%Source: AMPlified 2010:  Behind the BuyQ:  What degree of influence do the following have on your purchase decision? A: Heavy Influence
  10. 10. Source: AMPlified 2010:  Behind the BuyQ:  Before purchasing a product in the ___ category, what kind of research do you do?  Check all that apply.
  11. 11. Path to Purchase Impact
  12. 12. The traditional path Awareness Consideration Purchase Loyalty Evangelism
  13. 13. The start of a new path Need  State Need  State Passive Active Purchase
  14. 14. The start of a new path “I need a camera” Need  “I guess I won’t use it that much” State Need  State Passive Active Purchase Point and Shoot DSLRs Sub $200 Point and Shoot 25x 10x HD Ready
  15. 15. The evolving of pathMcKinsey, 2010The Consumer Decision Journey
  16. 16. Information Sharing & Creation
  17. 17. Information proliferationData Origin Data Proliferation Moms Teens Fashionistas Spanish‐ Speaking
  18. 18. Information gathering & engagement Quick Finish Personal Commercial Start  In‐depth
  19. 19. Information gathering & engagement Quick Text/Pic Messaging Most  Retailer  Websites Most  Corporate  Personal Websites Commercial Blog  Haul  Reviews Videos In‐depth
  20. 20. Information gathering & engagement Quick Text/Pic Messaging Opportunity Most  Retailer  Websites Most  Corporate  Personal Websites Commercial Blog  Haul  Reviews Videos In‐depth
  21. 21. Semi‐future engagement #1 • Personal/Commercial and Quick(er)To learn more about haul videos Click here
  22. 22. Semi‐future engagement #2• Quick and Personal
  23. 23. Semi‐future engagement #2• Quick and Personal
  24. 24. Actual‐future engagement #3 • Quick and CommercialTo learn more about SixthSense Click hereThe good stuff starts at the 5:00 mark
  25. 25. The Future
  26. 26. To see “The Internet” from 1969 Click here
  27. 27. Our Panel Jason Harty, Director of Field Marketing, Pretzel Crisps Albert Chen,  Account Executive, Google Ken Fischer, Founder & Editor, Ars Technica Bill Gianoukos, VP Product Development, Media Friends

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