Consumer Expectations are Driving Brand Direction
Are you up with the times? This is a question you might find people asking you as the world rapidly changes and evolves. In the year 2020, what exactly do consumers want and how are we helping them get what they want? Perhaps more importantly, how are we helping consumers get what they want in the way that they want it?
Many of us have noticed a perceptible shift in the current landscape towards ideas such as sustainability, charity, and community-forward companies and businesses. This shift is resulting in a need to refine our marketing strategies, most noticeably when targeting the teen to mid-thirties age demographic of consumers.
In today’s world, it’s less about opting out of eco-friendly options and more about the backlash you’ll experience if you don’t adopt this trend. Consumers are eager to see transparent moral codes and ethics represented by companies, and genuinely believe that their involvement and interactions with these companies matters beyond the individual. In fact, many consumers believe what they buy and how they buy it has lasting global implications.
What Moments Matter?
In 2008, Tesla introduced the Roadster, the first highway-legal all-electric car to use lithium-ion battery cells. In 2016, Adidas partnered with Parley for the Oceans to produce a limited-edition line of sneakers made from recycled ocean plastic. Also in 2016, NYC’s Momofuku Nishi became the first restaurant worldwide to offer the Impossible Burger.
Audiences were eager to applaud these companies and the energy directed toward the perceived “greater good” of humanity. These”eco-moments” (which might now seem ubiquitous) leveraged consumer ideas about sustainability to grow sales and positive receptions across the board.
Now, electric vehicles, products made from recycled materials, and a vast menu of plant-based foods have gone from eco-moments to cultural mainstays. The reality is that if you are unable to gear or position yourself toward this changing landscape, you might very well be left somewhere far behind your competition.
If, however, you can change and adapt, perhaps adding some unique flair, you’ll find your audience growing.
Take a look at the following statistics from Sprout Social:
- Connection breeds loyalty and bottom-line growth. Investing in relationships with consumers directly impacts business revenue and strengthens customer loyalty. When customers feel connected to brands, more than half of consumers (57%) will increase their spending with that brand and 76% will buy from them over a competitor.
- Real people are the key to authentic relationships. Consumers want to learn more about the people behind their favorite brands. Seventy percent of consumers, for example, report feeling more connected when a brand’s CEO is active on social. Additionally, 72% of consumers report feeling similarly when employees share information about a brand online.
- People want brands to connect them to other people. And they don’t mean only those with similar mindsets. Sixty-two percent believe social can unify people of different backgrounds and beliefs, and more than half (52%) expressed interest in connecting with individuals different from them.
Putting It All Together
Providing what consumers want means you should focus on the human necessity for connection. As stated above, consumers want brands that make them feel connected to the causes they feel passionate about. Furthermore, in a COVID 19 world, we are increasingly moved by genuine human interactions. By connecting consumers to one another, but also to the larger picture, you’ll position yourself to change along with the world.
Establish ground rules. Work as a team to develop a transparent model for your internal ethics and morals that you can share with your audience. Make sure your brand is authentic and true to you. Make sure that your brand is connecting people to people, contact us today. Above all, ask yourself, what is your moral code?