So much has changed in the last six months. As public health concerns impact our behaviors, retailers of all kinds are learning to adapt to “the new normal” by moving their businesses online as much as possible. For some, this is an entirely new sales and marketing paradigm, while others have a head start and online retail experience. From creating and maintaining online marketplaces to finding ways to connect with consumers digitally, there’s a lot to learn.
One of our consistent interests at Eidson & Partners is the building and sustaining of consumer trust. Trust is one of the most valuable currencies in marketing as it enables fruitful relationships and turns loyal customers into brand evangelists. But what does trust mean in a world that is (for the time being, at least) mostly digital? Without in-person or in-store experiences, how do retailers who are newly reliant on online marketplaces establish and maintain trust? Continue Reading
Pioneered by startups and tech companies seeking innovation by reshaping systemic processes and industry landscapes, the goal of creating disruptive change has trickled down through nearly every aspect of today’s business environment. In fact, the term is so ever-present that its value risks becoming diluted.
However, recent remarks from the Association of National Advertisers Masters of Marketing conference might prompt us to see disruption in a new light. Speaking to a crowd of attendees, Procter & Gamble chief brand officer Mark Pritchard praised what he calls “constructive disruption” in marketing practices. What does that look like in practice? Pritchard’s answer provides a road map for the ways in which brands can best reach consumers in the future. Continue Reading
We recently explored how the millennial generation’s consumer ethos of “self, society, and planet” has impacted other demographics and encouraged brands to become more transparent about their product sourcing and social impact. This shift is perhaps most obvious when it comes to food labeling – after all, this is the generation that saw calorie counts added to fast food menus and prioritizes organic and local ingredients. However, today’s consumers want greater transparency for all products, not just those they literally consume.
My wife and I are big fans of Rev. Rodger Nishioka, an astonishingly bright man. We love his insightful and perceptive approach to examining the big issues of our day. The opening sentences of Rodger’s recent note have been on my mind since I first read it. He wrote:
Hermeneutics. It means “interpretation.” I like to think of hermeneutics as a set of lenses through which each person views the world. Hermeneutics, or how we interpret the world, shape everything. The truth is each of us have multiple hermeneutics. We view the world through a complex combination of lenses. Some of my lenses are male, fourth-generation American of Japanese ancestry, single, mid-westerner (that is the newest one and I am still growing into it) and educated (some might say over-educated?!)
The recently released 2017 Cohn & Wolfe Authentic Brands study is the result of an ambitious undertaking. Cohn & Wolfe surveyed over 15,000 consumers across a wide variety of markets in search of a deeper understanding of their perception of 1,400 popular brands. Culminating in the “Authentic 100” – the top 100 U.S. brands ranked according to consumer perception of authenticity – the study “examines the role of authenticity in business, the attributes associated with an authentic brand and the impact of authenticity on consumer… attitudes and behaviors.”
It’s no surprise that authenticity is an attribute that is highly valued by today’s consumers. In our social media-saturated society, consumers have more opportunities than ever before to interact with brands on a “personal” level and they demand that engagement in exchange for their loyalty to certain brands and products. Let’s take a look at how consumers perceive authenticity and what that means for today’s brand builders. Continue Reading
As we recently explored in our blog series, Tomorrow’s Super Consumers, a seismic shift is occurring in the demographics of American consumers. Nielsen’s report on The Multicultural Edge reveals that multicultural consumers are “the fastest-growing segment of the U.S. population,” on track to be a numeric majority by 2044. Smart, inclusive marketers and brand builders can no longer ignore their increasingly diverse consumer base.
It’s time to devise strategies for connecting with a wide range of consumers with authenticity, respect, and ongoing engagement. With multicultural consumers on the rise, how can brands and marketers embrace a diversity of perspectives and experiences to create inclusive, compelling brand identities that connect with our increasingly diverse marketplace? To start, let’s take a look at several brands who are succeeding at engaging diverse perspectives. Continue Reading
I recently wrote about the 2017 Edelman Trust Barometer, which revealed that trust is in crisis around the world. “The majority of respondents now lack full belief that the overall system is working for them,” the study found in regards to public trust in four key institutions – business, government, NGOs, and media. Edelman president and CEO Richard Edelman traces the roots of the current trust deficit to the 2008 recession, asserting that the combination of technological innovation and globalization has left many consumers feeling left behind.
In this age of social media dialogue and empowered consumer voices, unique challenges and opportunities are emerging for brands that wish to build trust in their products, leadership, and impact. How can we rebuild consumer trust at a time when the world feels increasingly polarized and consumers, who are eager and able to share their opinions, nonetheless feel that major institutions no longer have their best interests at heart? Continue Reading
Recent Nielsen data confirms a seismic shift that is occurring in the demographics of American consumers. First released in 2015, Nielsen’s report on The Multicultural Edge revealed that multicultural consumers are “the fastest-growing segment of the U.S. population.” While Hispanics, African-Americans, Asian-Americans and other multicultural groups currently make up around 40% of the population, they are on track to be a numeric majority by 2044.
This young and growing segment of the consumer population is already driving changing trends in groceries and beverages and is poised to greatly impact markets such as technology, entertainment, and fashion and beauty as well. This segment of consumers offers an exciting opportunity and a challenge for today’s brand-makers, entrepreneurs, and innovators. How will we respond? Continue Reading
Early each year, leading global communications and marketing firm Edelman releases the results of their Trust Barometer survey. The Edelman Trust Barometer is the culmination of a global study of consumer trust in four key institutions – business, government, NGOs, and media. The newest iteration, conducted in 28 countries and encompassing more than 33,000 respondents, places a finger on the pulse of consumers across the world.
Would you be surprised to hear that in 2017 Edelman finds that “trust is in crisis around the world”? For the first time since they began tracking these metrics, “the majority of respondents now lack full belief that the overall system is working for them.” What might be at the root of this global decline in trust in our key institutions? How can we begin to rebuild consumer trust in an authentic and sustainable manner? Continue Reading
Consider the TED Talk, which has emerged as a leading platform for incredible insights and viral videos over the past several years. While these talks are given by subject matter experts who are generally polished in their presentation, every TED speaker has a firsthand experience to share. The humanity and relatability of these speakers is what makes their message so compelling. Continue Reading