Recently, I read an Accenture report on post-recession consumer behavior, called The Road to Recovery. Overall, the report found consumers to be unsatisfied, with low brand loyalty, demanding brands to meet steep expectations for less.
Delivering on your brand promise couldn’t be more important than it is today!
Consumers are more mindful of their spending & are allocating dollars to items with the most perceived value – items they feel are special to them. For instance, I will save on toothpaste, and spend money on a good camera because capturing memories is essential to me OR I will buy a mac, which may cost more, over a PC because I trust the brand and want to be associated with it.
Today, brands need to create, reconfirm or prove their value to consumers to maintain demand. In addition, they must be consistent & transparent with their actions, when proving value, to earn or maintain loyalty.
An interesting trend that is emerging, mostly from the explosion of mobile app popularity, is the idea of Brand Utility – meaning a brand is providing additional experiences/touch points to aid consumers in a time of need that is relevant to the brand’s skills and purpose.
Take for example ING, who created a mobile app last January that helps customers find the closest ING ATM. This uses something called augmented reality, where it uses your camera phone and GPS to show you where you are, and where you need to go to find an ATM. Very helpful when travelling and need to find a bank. Similarly, last year, we developed an Ale finder to help Budweiser fans find its latest beer: Budweiser American Ale.
While it seems that consumer confidence is starting to turn around, reaching its highest level in almost a year and a half, President Obama’s recent State of the Union address, signals that the poor economy and job instability are still priorities to many Americans.
A few weeks ago, we decided to ask our Critical Mass ShopTalk research community who represent a broad demographic of consumers across the United States, what they will be spending more and less on in 2010, including both time and money. What we heard from them was both expected and surprising.
Consumers talked about spending more time on hobbies and interests, with family and friends and of course the resolution favorite, exercising. What’s interesting, though, is that a large number of consumers also talked about spending less time worrying or focusing on things beyond their control, like the economy or the job market. Many seem intent on living in the present and enjoying what they have today. While our community is mindful of the poor economy and the fact that saving and scrimping are ever-present goals and challenges, many want to worry less about the uncertain future and instead concentrate on the present.
The word cloud below captures the key words consumers used when asked what they will spend their time on in 2010.
Other activities that consumers say they won’t be spending as much time on in 2010 include TV and the internet, most notably social networking sites. Consumers talked about devising strategies to limit their time in these arenas so that they can spend more time outdoors or engaging in more active and/or quality pursuits with their families. While these are admirable goals, I’m not sure how much people will be sticking to this. If they really want to stress and worry less, I think TV and Facebook provide great distractions from the everyday pressures of life. I’m looking forward to seeing whether our consumers stick to this goal.
Edelman recently posted the results of a study they did on consumer trust. The study claims that “The number of people who view their friends and peers as credible sources of information about a company dropped by almost half, from 45% to 25%, since 2008.” Is social media just a passing fad?
Definitely not. While the article brings up an interesting topic, I believe that Michael Bush’s primary intent was to stir up some controversy, rather than claim there has been an official shift in online consumer behavior. Before we abandon everything we know about social, ask yourself 2 questions…
Is what they are saying true? I’m not sold on the methodology. Based on the way the data is displayed in the article, it’s easy to criticize the survey technique. The wording is relatively biased and appears to focus on advertising, in general. As an alternative, the research could offer more credibility if consumers were asked who they trusted most for purchasing advice or recommendations.
What does it mean for social media marketers? Survey details aside, the article surfaces the very important topic of relevancy and timing in social media marketing. In order to solve for this problem, marketers must craft solutions to address:
Consumers experience a tremendous amount of digital litter online. Most content offered is just noise, and often doesn’t meet consumer’s exact point of need.
Social Media is not a retail medium. It’s about building relationships. Over time, these relationships establish trust, engagement and ultimately advocacy, which definitely impacts the bottom line for brands.
Consumers are first, brands and branded messaging will always be second. Consumers use social media to socialize with their friends, family and peers. If they want to engage with brands, it will be on their terms.
Content is no longer “king” – relevancy is. Consumers have been taught that if they sound-off questions, someone will answer. By choosing to be active in social media, brands can offer solutions as a trusted source to weigh-in on those direct consumer questions.
If you’re active in social media, I wouldn’t get too hot and bothered over the study results. PR agencies are great at generating buzz, so kudos to them for stirring the pot. Now, take it a step further. Go beyond the buzz, and focus on developing long-lasting, sincere relationships with your fans online.
Lots of talk this week about customer experience and it’s impact on stock price. Bruce Temkin and Jon Picoult both tackled this topic by comparing stock price performance with Forrester’s Customer Experience Index. I’ve got religion on this one. I’m a believer.
Steve Reubel firmly believes that Facebook will be the next Google. He makes a good case for it: they provide a social experience that is more elegant and organized than any other social offering out there. On the other hand, Google Buzz leaves a lot to be desired. Jeremiah Owyang helps us cut through the buzz – errr… hype with his hand social network matrix. On a related note, Facebook wants to be your one true login.
Admap brought together a few respected planners and former-planners to discuss the future of planning. I like what Will Collin, founding partner of Naked Communications, had to say about it: “I think the planner’s job is to hold the strategic line and be true to what is at the heart.”
And well, well, well… what sort of interestingness is Google up to? Google is gearing up to offer ‘ultra high-speed’ broadband in several small test markets throughout the US. I’d love to be a fly-on-the-wall in the executive boardrooms of Verizon, Comcast and AT&T (my client) to listen in on their initial reactions to this move.
Skittles re-designed its website when they realized that social media isn’t all rainbows. Adweek and Fast Company weigh in on Skittles’ experiment with social media.
Frontline recently aired a new documentary called Digital Nation that “explores what it means to be human in an entirely new world — a digital world”. They’ve created a companion web site containing tons of raw footage and rough cuts.
The lack of Flash support in the new iPad has spun up a bunch of conversation about HTML5 and how great it will be for mobile. While we’re on the topic, Vanessa Miemis has created an impressive round-up of various iPad perspectives.
In our excitement for 2010, we decided to give Experience Matters a makeover. We worked on a few bugs, we considered usability and yes, we changed the design. Critical Mass is all about creating extraordinary experiences, so please feel free to leave us comments about your experience with our blog. Are there things we can do to make it more extraordinary for you?
At CM, we’ve all got that wonderful feeling of renewed energy heading into this new year. Our new look is just the beginning, so please… Explore. Subscribe. Participate.
We are looking forward to bringing you insights and opinions all year long.
It’s a beer foam blocker. A soup strainer. The manliest of face fungi. Now, the mustache is something else – it’s a potent fundraising tool.
CMers in Chicago, London and Toronto are participating in Movember – a month-long celebration of the mustache, which also serves to highlight and raise money for men’s health issues.
We’re showing our commitment by growing mustaches during Movember, the month formerly known as November. It’s a commitment to men’s health, solidarity, and, frankly, awesomeness.
It seems silly, but the cause is serious. 1 in 6 men will be diagnosed with prostate cancer in their lifetime. Testicular cancer is the most common cancer in men aged 18-35. If you are a dude, or know or love a dude, it’s likely your life could be affected.
CMers have collectively raised over $15,000 during the last two Movembers and we are excited to participate for a third year.
But we need your help. We’re raising money through Movember for the Prostate Cancer Foundation and the Lance Armstrong Foundation. And we’d like you to donate to our cause.
Donate online with your credit card or Paypal account. You can donate generally to a team, or to the individual you think best represents the Movember spirit.
Rob: I have two reasons for doing this. The charity is very worthwhile while being incredibly easy to do with social media. Second, my wife actually thinks the moustache is hot because she grew up in the middle of rural Ohio and is, sadly, damaged by the experience. (Donate to Rob.)
Greg: Recently shaved my hair down short. How to best accent my new look? Shaved head + Fat ‘stache = BADASS. And, cancer runs in my family, so I wanted to do some good. Suck it, Cancer. (Donate to Greg.)
DJ: Cancer runs in my family, so I wanted to give back using one of my best skills: being able to grow a luxurious, testosterone-soaked handlebar mustache. Dig it. (Donate to DJ.)
Sabrina: What better way to build awareness then to see a city full of ’stache and a donation page full of cash? (Donate to Sabrina.)
Johnathan: Cancer in any shape or form is an emotional and physically taxing thing to deal with, and being part of a potential solution is what motivates me to help. Plus, I’ve always wanted to look like a pirate (even though my mustache takes forever to grow). (Donate to Johnathan.)
Jason: I feel like I should be wearing a Vote for Pedro shirt, due to the adolescent nature of my current moustache. It is an embarrassment I wear with pride, knowing it pales in comparison to what my Dad endured as he (successfully) fought off prostate cancer a few years ago. This is such a great cause, and growing a moustache in this day and age is a REAL conversation starter. Please donate to Prostate Cancer Research, and if you’re so inclined use this link. (Donate to Jason.)
Richard: Growing a mustache is something of an austerity, but nothing compared to the ordeal of having to endure something as painful as prostate cancer. I wouldn’t really know how that feels, and hopefully never will, but with the odds at 1 in 6 I figured I’d join in the effort to try and find a cure. (Donate to Richard.)
Jarrod: I’m wearing this dead squirrel on my lip to support my Dad who suffers daily because of this indiscriminate blight. Please donate what you can to Cancer Research. (Donate to Jarrod.)
Critical Mass is all about compelling user experiences. And what experience isn’t accentuated by a thick mass of man-fuzz across the upper-lip?
Even the anti-mustachio crowd can get involved, donating on behalf of our poor significant others who tolerate our hairy smooches during the month. Let’s face it: there’s no excuse not to get involved.
I attended the MarketingProfs Digital Marketing Mixer last week here in Chicago and learned a lot that will eventually translate into the creative work we do for our clients.
But this conference illuminated a change in the learning process, altogether. It showed me why agencies like Critical Mass must be involved in these conversations as well as the changing ways we can use these events to inform our work moving forward.
The Snowball Starts Rolling
This was a different kind of conference. From the start, a strong symphony of tweets and a streaming video feed allowed everyone in the world to feel as though they were there. There were no firewalls – everyone was encouraged to share.
To distill and salvage the best ideas, attendees were asked to submit and vote on the best insights from the conference – in a sense, crowdsourcing reference material.
In short, this presentation discusses a shift in the economy from strategy to ideals, claiming that organizations can no longer be successful by trying to dominate markets or coerce people into buying products. He feels this is a result of an influx in richer and freer interactions among customers and between customers & organizations – this is no doubt a result of an increase in social media adoption through digital platforms.
With this economic shift, there is a change in its associated institutions, which act as the rules to interaction. The 20th Century institutions led to various crises that have encouraged this change:
Looking at the 21st Century institutions, Umair believes this economic shift starts with meaning – focusing on creating positive outcomes rather than income – and by focusing on meaning, the other institutions will follow.
As a person passionate about branding, and who uses digital to leverage brands, I gravitated to this thinking because of its emphasis on creating interactions through ideals, which requires a combination of strong branding & engaging digital initiatives. Read the rest of this entry »
My Trek was stolen from work just over a week ago. As an aside, if you park on or around Michigan Avenue – watch out. The story: I parked and locked my bike outside of our building, just like always. I left work and it was gone. What’s next? I hop on the train and check Craigslist for Trek Bikes for sale. Yep. It was there – or I thought it was. That night, I do the basics: file a police report, and plan a full-blown sting operation. I was thinking, “I’m going to get this ‘jerk” (except replace the word “jerk” for about 10 other colorful descriptors). I emailed the Craigslist contact and we set up a meeting for the next day. I went. He stood me up. Grrrr. Wait. He emailed me back asking to meet at a different location – in a sketchy neighborhood, but I’m down.
Experience #1: Be receptive to my attempt to resolve the problem. I shared the back story with the folks at Critical Mass. They allowed me to take part of the day to pursue the lead. They allowed me to drive the situation. Special thanks to @Shamberg, for that.
Experience #2: Understand my needs. My husband is out golfing and has our car. “Oh great.” Out of rage, I look up Enterprise Rent-a-Car and check their inventory for a vehicle large enough for a bike. They immediately contact me via phone in response to the online query, and I tell them the stolen bike story to this point. Unbelievably supportive to my cause, they arrive at my doorstep within 10 minutes. Read the rest of this entry »
Mark Cuban + Avner Ronen fighting tooth and nail over the future of entertainment. Will internet video will remain niche? (@richinminerals)about 12 hours agofrom web
I emailed the Craigslist contact and we set up a meeting for the next day. I went. He stood me up. Grrrr. Wait. He emailed me back asking to meet at a different location – in a sketchy neighborhood, but I’m down.