March 6, 2013
In the 2012 Data Tracking study published by DMA (sponsored by Equifax) last week, 1193 UK adults shared their opinions about when and how they’ll share personal information with brands. The good news for brands is that the number of consumers who claim to be willing to share private data with brands has sky-rocketed over the past 18 months.
Specifically, the number of people who are willing to share personal data with brands that are “selling products they might consider buying” increased by 48% during the past 18 months. Furthermore, the number of people who are willing to share personal information with brands that are “selling products they have to buy” has jumped from 56% to 63% in the past 18 months. Another significant increase was found in the number of people who are willing to provide their name, address, and email address (referred to as “basic information”) to brands, which grew by 63% in the past 18 months.
However, not all brands fare as well when it comes to convincing consumers to share personal data. Brands that offer clear security policies and follow best practices to secure consumer trust are having much more success in obtaining consumer private data than brands that don’t prioritize these activities.
You can follow the link above to view the full report and see some highlights in the infographic below. Key findings include:
- Consumers are most willing to share personal information with brands they already have a relationship with (76%) and when they’re buying products (63%).
- Sales incentives mentioned in the study that are most effective in motivating people to share personal information include free samples (25%), money-off vouchers (25%), discounts (23%), free shipping (20%), and competitions (19%).
- On average, consumers are most likely to share their name, followed by their email address and their mailing address in that order.
- Of the activities included in the survey, consumers reported that they are most likely to shared basic personal information like name, email, and address when they’re buying goods online (79% average), and least likely to share this information when they’re pledging support for a cause.
Brand trust is a critical component of any brand-building strategy, and the results of this study show that building brand trust is the number one factor that can motivate consumers to share personal information with your company that can be used in future brand marketing campaigns. If you’re not already prioritizing your efforts to build brand trust, you need to do so now.
Image: Ayhan Yildiz
August 9, 2010
Results from a new poll by Harris Interactive for the Online Publishers Association (OPA) shouldn’t be too surprising for marketers and brand managers who have been involved with social media marketing in recent years.
According to the study, consumers trust ads on social media sites less than ads on other websites. In fact, only 8% of respondents felt that companies that placed ads on social media sites are reputable. That’s significantly lower than the 21% of respondents who felt that advertisers on traditional content sites are reputable. Respondents also felt that advertisers on social media sites are less respected and the ads displayed on social media sites are not relevant.
When asked how satisfied they are with various social media sites, the results were somewhat surprising with Wikipedia, a site known for inaccuracies from user-submitted content, ranked quite high. Of course, perhaps respondents have expectations for Wikipedia, accept the possible inaccuracy of information found there, and rated the site with that in mind. Check out the results below:
- 77% of respondents were satisfied with Wikipedia
- 73% of respondents were satisfied with YouTube
- 64% of respondents were satisfied with Facebook
- 63% of respondents were satisfied with MySpace
The reality is that brands need to engage with consumers on social media sites in a manner that meets users’ expectations for the site and for the brand. Social sites aren’t going away and even if users aren’t completely satisfied with existing social media sites and tools, they’re going to keep using them until something better comes along. Until then, engaging with consumers, earning their trust, and building relationships with them on social sites continues to be more effective than advertising on the same sites and continues to present an opportunity that brands shouldn’t ignore.
You can follow the link to read more about building brand trust.
July 8, 2010
BP has been investing a lot of money into advertising and marketing efforts to rebuild it’s reputation after one of the biggest oil spills in history brought the company under massive global scrutiny. While initial results from the effort seemed positive, a new study tells a different story.
According to a June 2010 survey by The Economist and YouGov, American’s don’t trust BP.
Here are the results when respondents were asked whether or not they trust BP to “do the right thing in stopping the oil spill and cleaning it up”:
- 27% have no trust in BP at all.
- 24% have very little trust in BP.
- 24% have only some trust in BP.
- 13% have quite a bit of trust in BP.
- 6% have a great deal of trust in BP.
Interestingly, a Rasmussen Reports poll tells us that BP is not alone in its position as an oil brand and company that American consumers don’t trust.
According to that survey:
- 41% had a very or somewhat favorable opinion of Exxon.
- 43% had a very or somewhat favorable opinion of Chevron.
- 47% had a very or somewhat favorable opinion of Shell.
A CBS News and New York Times poll seems to support those findings.
According to that survey:
- 38% say they trust oil companies to act in the best interest of the public “not at all.”
- 36% say they trust oil companies to act in the best interest of the public “not much.”
- 24% say they trust oil companies to act in the best interest of the public “some.”
- 2% say they trust oil companies to act in the best interest of the public “a lot.”
The statistics reported in these surveys are a red flag for any company. The question is how oil companies will respond not only to appease consumer fears and lack of trust but also in changing their business practices to actually earn that brand trust. Now is the time. Afterall, 2010 is the year of brand transparency, honesty and trust.
Do you think they can (or will) do it?
May 27, 2010
According to the survey, only 1% of respondents (made up of Internet users from the United States and the United Kingdom) never compare products and services before making a purchase. The results of the survey were as follows:
- 51% always compare products and services before making a purchase
- 44% sometimes compare products and services before making a purchase
- 4% rarely compare products and services before making a purchase
- 1% never compare products and services before making a purchase.
And of those people surveyed, 71% said they look for as many sources to find information as possible to ensure the information they find is accurate.
However, the above findings are not the most interesting from the Alterian study. The far more interesting information comes from responses to who respondents are most likely to trust for advice when researching a product or service. In answer to that question, only 13% said they trusted what a company says about itself or advertising or promotional features. The results of the survey were as follows:
- 40% trust friends and family
- 28% trust professional reviews on Web sites, newspapers or magazines
- 19% trust reviews from people “like you” on Web sites
- 8% trust what the company says about itself
- 5% trust advertising or promotional features
This is not the first time these type of research revealed similar findings. Back in 2007, I remember writing a piece about research conducted at that time that showed consumers trusted advertisers and companies less than they trusted friends, family members, and even complete strangers who wrote about products and services online.
In other words, the findings from this survey are not new, but they certainly do add to the growing pile of evidence that supports shifting marketing budgetary investments away from traditional advertising and toward new media conversations.
What do you think? Has your company made the budget shift to actually gain favor with consumers where their eyes, ears and trust are?
March 31, 2010
Earlier this year, I wrote a post here on the Corporate Eye Blog called 2010 – The Year of Brand Transparency, Honesty and Trust, and now, research is in that supports that prediction. Weakened economies and uncertainty have caused consumers to be less naive in terms of simply believing marketing messages, and the power of the social Web in boosting global communications to new heights of access and information sharing has created a new world where consumer expectations are less accepting and more “prove it to me” than ever before.
According to an article on Brandweek, A new study by Landor Associates, Penn Schoen Berland and Burson-Marsteller reports that, “75% of consumers believe social responsibility is important, and 55% of consumers said they would choose a product that supports a particular cause against similar products that don’t.”
The study also revealed some opportunities for brands to differentiate themselves from the competition not just with cause marketing and socially responsible programs but through education. Many consumers still don’t understand what “corporate social responsibility” is. At the same time, many consumers in the aforementioned study revealed they would be willing to pay more for products from a socially responsible company — as much as $10 more. The opportunity to educate consumers about a socially responsible brand, differentiate it from the competition as such, and attach a premium price to it could be significant.
Furthermore, 50% of 18-34 years olds surveyed in this study claimed that they would be willing to take a pay cut to work for a socially responsible company. That leads one to believe that socially responsible brand messages could have a bigger effect on brand building and sales in specific, younger demographics. Again, this is an opportunity to craft effective messages for specific audience segments.
Consumers have changed over the course of the past few years. Your branding and marketing messages need to change with them.