THE EVOLUTION OF DIGITAL MEANS SO MUCH DISRIPTION. FOR BRANDS YES – BUT EVEN MORE SO FOR CONSUMER BEHAVIOUR.
We all have so much more choice. More brands -More information - And product reviews of friends and strangers just a click away
We wanted to understand how this new era of consumer power is impacting purchase preferences and what that means for marketing strategy
Much of marketing till relatively recently adheres to a Byron sharp model of shout louder and be remembered
We wanted to know how this has changed.
So we went to customers.
And conducted a research survey across the UK and US anging in age from 18-65 to see what’s really motivating customers today
The results – largely consistent across generations, gender and geography – identified a new ambition for brands : Wantedness.
SETH they are playing our song!
Who knew that in 1979 CHEAP TRICK would have predicted the future in such a powerful and profound way?
They saw something that we feel has been overlooked for too long
SETH they are playing our song!
Who knew that in 1979 CHEAP TRICK would have predicted the future in such a powerful and profound way?
They saw something that we feel has been overlooked for too long
2. THE FIRST FINDING – CHOICE/ACCESS TO INFORMATION/CONFIDENCE/CHOOSE BEST NOT BIGGEST
People are in no way overwhelmed by choice and information
it’s making people more demanding.
9 out of 10 of us see reviews, social media and the ever present mobile phones as helping them make better purchase decisions.
And, crucially, this is resulting in a rejection of automatically choosing the biggest and best known brands –fame and salience alone isn’t enough.
8/10 prefer to seek out the best brand for them rather than defaulting to the category leaders.
True across age groups and the UK and US
And we can see this is a rising trend: for the people who’ve grown up with the internet in their pocket they’re twice as likely to overlook the biggest brands in search of the best brand for them.
3. ONE OF THE MOST SIGNIFICANT FINDINGS – OUR COMPETITIVE SET IS NOW A LOT BIGGER
But, one of the most significant findings of the research is also a result of the leveling effect of digital and the ease of comparing and rating different brands.
8/10 say that the meaning of best is set a few exceptional companies across categories. As a marketeer the bar has got a lot higher– you’re now competing with tech giants on innovation and and best loved brands like John Lewis on Service
WE say you now have to operate in the Culture, not the category
4. IF YOU’RE A RETAILER: USER INTERFACE/IPLAYER AND GRANDPARENTS
It’s fair game to compare your web and mobile interfaces is as easy and accessible as iPlayer, which kids and grandparents alike enjoy using
5.FASHION LABEL: VALUE/SURPRISE OF MARKETING AND EXPERIENCE LIDL
If you’re a fashion label your value and and ablitiy to surprise with marketing and is being compared with Lid, brand which offers a great champagne for £10 and recent did a pop up restaurant
6. IF YOU’RE A BANK.
How easy and powerful your app is being compared with Uber
I know I’m still shocked that my transactions aren’t searchable. Why do I have to trawl thought statements to find when I last paid a bill?
7 SO THE BEST BRANDS MAKE CUSTOMER LIVES EASIER.
They simplify decision making and purchase in a category.
But they integrate with their daily life and make accomplishing the tasks that stress us out easier, whether that’ stopping for fuel, checking in at the airport or sharing photos with friends
8 – BUT THEY ALSO MUST SEND THE RIGHT SOCIAL SIGNAL
Our research shows e’re much picker about the brands we’re seen with and the story they tell about us in real life and in social medi, with 89% agreeing that the ‘best’ brands shared their values.
That’s why Under Armour has seen it’s shares dive by over 20% after it’s CEO came out in support of Trump.
And why
And when an American outdoor store, REI, stayed true to their purpose and shut their stores Black Friday so their staff and customers could get out and enjoy the great outdoors their visitor numbers jumped by over 30%.
8 THIS DESIRE THAT BRANDS MUST FIT ME LIKE A GLOVE EXTENDED FURTHER.
79% agreed that brands must not only understand interests, needs and preferences.
They had to deliver something that demonstrated it to.
9 WE CALL THIS HIGH LEVEL OF ATTENTION TO CUSTOMERS NEEDS ‘WANTEDNESS’; LOYALTY FLIP
Wantedness is the degree to which a brand proves their commitment to earning a customer’s business across every touchpoint and throughout the entire path to purchase.
It means the power balance has shifted and brands are now in service to the customer.
At Wunderman we’ve moved away from talking about how customers can be loyal to brands; instead our challenge is ’how can brands demonstrate THEIR loyalty to customers
10 NOT EVERY ASPECT/ SERVICE. PICK ONE THING AND EXEL
It doesn’t mean we have to reinvent every aspect of our product.
Three in four consumers believe brands can set new standards based on their customer service alone.
So it does give us a new challenge of creating new reference points for what exceptional service is.
But it doesn’t have to be exeptional in every aspect.
It mades sense to pick one or two things and set a real, memorable standard at that one thing.
12 EXCEED EXPECATIONS/NOT BY DOING WHAT’S BEEN DONE BEFORE
. It’s a big ambition – think about how you can rebuild your marketing and customer expereince to show your loyalty to customerrs.
13 3 RULES TO MAKE SURE WE’RE CAPITALIZING ON THE OPPORTUNITY
14 1 KNOW CUSTOMERS:
At wunderman we’re a business that’s was playing with big data before it had a name.
There’s a lot you can understand with behavioural, digital and transactional data.
We’ve AI and machine leardning.
But true insights come about when you take all this data.
And then remember that in our business we’re talking to humans.
15 WALKING IN THEIR SHOES
in walking in their shoes, exploring the journey to purchase AND MAPPING IN
THINKING We believe ABOUT THE TOTALITY OF THE CUSTOMER EXPERIENCE AND MAPPING WHERE THE LOWS AND HIGS ARE WITH VIDEO, SOUND AND LIVE OBSERVATION
16 FIND THOSE FOCUSSED OPPORTUNITIES TO INVEST
And do something outstanding – to spot the moments where you can set a new standard and create a memorable brand experience
17 TODELIVER ON A BRANDS PROMISE TODAY…
You have to be able to understand and manage every aspect of how your brand is experienced
By definition you don’t exceed expectations by doing what others do.
Be bold, brave and do things that have never been done before.
And do it in a way that is unique to your brand.
17 COMMERCIAL OPPORTUNITY/ SHOW IT’S LOYALY TO CUSTOMERS
IF you think about how those moments where a company does something that makes you feel truly valued are -
It’s a lot less frequent that you’d think –
And it shows the commercial opportunity THAT LIES IN HELPING YOUR BRAND STAND OUT AND SHOW IT’S LOYALY TO CUSTOMERS.