In one of the largest ever consumer marketing studies, Edelman's 2014 Brandshare Report, 212 companies were evaluated based on 11,000 customer interviews across eight countries. The findings were illuminating when it comes to brand narratives and communication practices.
The study found that 9 in 10 consumers were looking for marketers to more effectively share their brand story. Only 1 in 10 felt any given brand was already doing that. Further analysis showed two ways in which companies could better shape their marketing efforts:
First, involving customers in the brand-development process – rather than just at the end. The study found that consumers have a great affinity for a shared product, one in which the customer feels they had a hand in designing and/or developing. This shared approach was desired by 91 percent of respondents.
Second, companies should create a singular narrative that engages consumers with the brand story. Shared values and company history are often communicated to a broad range of stakeholders, but not always consumers. Shared beliefs are another way to effectively create affinity for your company.
Both of these ways of reaching consumers are well within your company's control. Meanwhile deeper findings of study showed that two-way dialogue was essential in your company's method of communication. This requires a new approach to share, listen and respond to consumers.
This quick video touches on how consumers want to hear from companies, a chapter within a new whitepaper, Preference Data ROI, which contains a new methodology to assess customer relationship maturity levels.
In the following weeks, we'll continue to roll out videos to guide you through the power of preference data. If you haven't yet explored our Resource Center, you can download the Preference Data ROI whitepaper here.
Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace.
With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today.