For decades it was the media companies that largely controlled the tools through which consumers were told what to buy and where. With the mass popularity of the Internet consumers now have the ability to generate, curate and distribute content to their peers in real time. As a result they can also effectively co-author the stories that brands tell and do seek active engagement from the brands that they use.
While associating themselves with their favorite brands on social media platforms, and even while checking information online, consumers may have totally different expectations than what the brands owners perceive. A recent study by Yahoo! and BBDO involves the information collected from more than 1000 consumers and brand marketing professionals.
The study divulges that 96 percent of the consumers want to know the exact product price, product features and proof points from a brand. In comparison only 86 percent of marketers feel that this information matters to consumers. Similarly, while 58 percent of the consumers actually want to know about the history and the eccentric or quirky details of the brand, only 41 percent perceive that consumers look for such details.
As per the study, 45 percent of the consumers look for interesting online stories about the brand but only 41 percent of the marketers believe that they do so.
The biggest discrepancy lies in the concept of sharing – the one quite directly related to social networking sites and other review sharing platforms. 91 percent of the consumers admit that they like to put their views about brands online and share it with consumers but only 56 percent of the marketers feel that this matters to consumers!
Apparently, it is time for brands that want to enjoy a good presence in the market to have a better understanding of the consumer psyche. They need to know how important the concepts of sharing and social media are for the Internet savvy customer.
Kristjan Mar Hauksson
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