Actions speak louder than words today, and brands that understand consumer sentiment can win market share and drive growth.
Listening to the Voice of the Consumer Can Drive Growth
Innovative brands are connecting with consumers and winning market share by tapping into nostalgic feelings, pent up demand, the buy-local movement and brand activism. On the other hand, underestimating the impact of consumer sentiment can be a missed opportunity to drive growth.
Memories & Traditions Create Warm and Fuzzy Feelings…Sometimes
People want to feel better, and the pandemic is creating the perfect backdrop for boomer humor and nostalgia. Brands that do it right stir up sentimental memories and feelings that bring together multiple generations of consumers.[/vc_column_text][/vc_column][/vc_row]
|Hit: Understanding Dad Humor|
|LiftMaster’s spoof on the 1986 classic, ‘Ferris Bueller’s Day Off’ stars Alan Ruck (Cameron Frye) as a dad, and Yello’s ‘Oh Yeah’ soundtrack hits all the right notes to get hundreds of thousands of YouTube views.|
|Miss: Underestimating Traditions|
|Peanuts fans protested the decision to break a 50-year tradition and stream iconic holiday specials on AppleTV+ instead of a network. After receiving hundreds of thousands of petitions, Apple lined up PBS to air the shows.|
Pent Up Demand
Consumers are Planning their Next Big Purchase
People are consuming more TV, streaming services, social media, and radio than at any other time in recent history according to Nielsen’s Total Audience Report. In fact, a recent Ipsos/Google study found 86% of consumers are on the look out for shopping ideas and inspiration, and 85% of consumers take actions within 24 hours of discovering a product by reading reviews, comparing prices and making a decision to buy something.
|Travel & Leisure applauds Royal Caribbean for inspiring thousands of cruisers to join ‘Volunteers of the Seas’ and take simulated cruises to learn how people want to experience adventures at sea after COVID-19.|
|Miss: Silent Brands|
|According to the World Federation of advertisers, 92% of global brands deferred ad campaigns during the first half of 2020, while people consumed media at record levels.|
Consumers Rally to Support Locally Owned Businesses
Neighbors want businesses in their communities to thrive, and a growing number of consumers expect brands, businesses and governments to follow their example and buy locally sourced services and products. In fact, the Edelman Trust Barometer found trust in businesses increases by a two to one margin when brands take actions to help local people and communities.
|Hit: Walking the Talk|
|Canadian brand Champion PetFoods inspires pet lovers to shop at neighborhood stores and is earning industry kudos for building U.S. facilities to formulate dog and cat food using regionally-sourced ingredients|
|Miss: Compliance-based Sourcing|
|According to a recent NYU Stern Sustainable Procurement study, 74% of businesses manage sourcing and sustainability strictly from a compliance standpoint.|
Actions speak louder than words, and timing is everything
At a time when social media gives everyone a voice, consumers are demanding a little less talk and a lot more action to earn their trust. According to the Edelman Trust Barometer, 64% of consumers will choose, switch or boycott a brand based on their stance on societal issues. [/vc_column_text][/vc_column][/vc_row]
Hit: Civil Rights Organizations
|Color Of Change, the ADL – Anti-Defamation League, and the NAACP inspired over 1,000 brands and many celebrities to join #StopHateForProfit and boycott Facebook and Instagram according to MarketWatch.|
|Miss: Bad Timing|
|Gap told AdAge their GIF of a blue and red hoodie zipping together was intended to celebrate historic voter turnout, but they retracted their post-election tweet when it backfired.|
How to understand consumer sentiment
Consumer lifestyles, values and behaviors normally shift incrementally over a number of years, but the 2020 global pandemic accelerated changes.
Quick-turn market research can provide insights to quickly identify the right audience, and understand which brand strategies and messages will ring true with consumers in real time. Consumer research empowers brands to optimize strategies and messaging before going to market.
- Benchmarking and Competitor Analysis provides real-time and historic data to optimize strategies and improve the return on investment for marketing strategies and tactics.
- Consumer Attitudes and Usage Studies (A&U) identify the right target audience by explaining how, when and where people use products, and define the perceptions and attitudes that motivate consumers to buy (or not buy) a product.
- Segmentation & Message Testing provide actionable consumer insights to create meaningful connections between brands and the right target audiences.
- Product Packaging Research uses a variety of different consumer surveys and statistical techniques to optimize package design, structure, and shelf placement.
Insights In Marketing is the marketing research firm that delivers in-depth and actionable insights so you can have every confidence your decisions are inspired by the consumer voice. Our team has decades of client and supplier side research experience, and our marketing expertise spans across various industries and consumer segments.