By Christine Pelosi, Information Specialist, 4A’s Research, [email protected], using exclusive survey data from Researchscape.
4A’s Research partnered with Researchscape, an agile market research consultancy, to survey 1,000 consumers on the brands they love, how they find new products, and factors that cause them to break up with a brand. The results revealed insights agencies can use for their clients to build and sustain brand loyalty.
Product Quality, Price, and Customer Service
Quality, price, reliability, and trust are the top reasons for buying a brand. These four factors, along with customer service, are also the top reasons consumers stop buying a brand. How do brands walk this tightrope? By keeping product quality high, prices stable, and focusing on great customer service. Realistically, when changes do occur in a product, a brand can succeed by being transparent and communicating reason behind price and quality changes with consumers.
It’s interesting to note that Duke’s semi-annual CMO Survey finds customers are prioritizing price and trusting relationships over quality in the next year. This shows that product quality, price, and customer service, no matter the order, will make or break a brand.
Political Statements and Boycotting
According to Researchscape’s survey, only 25% of consumers stopped buying a brand because of a political stance it took. Such a small percentage is surprising because brands taking political stances is a big topic right now. Confirming these results, a Morning Consult survey from 2018 found that only 19% of adults thought a company’s position on a social or political issue is very important when it comes to buying a product or service, 31% said somewhat important, 28% not too important, and 13% not important at all.
Keep in mind, of the 25% of consumers that did stop buying a brand for political reasons, 71% of them still do not buy that brand. By taking a political stance, brands are at risk of losing loyal consumers.
Trying New Products
TV is still the top medium where consumers learn about new brands, with friends and family and Internet searches close behind. After learning about a new product, the 4A’s and Researchscape wanted to know what actually makes a consumer try it out. The results showed that receiving free samples or coupons is a great way to encourage consumers to try new brands. This illustrates the importance of product sampling and coupons. TurnTo finds that product sampling is a great way to increase brand awareness, build loyalty, expand customer databases, and help gather reviews for products.
Recommendations are another factor that encourages consumers to try new brands. Incorporating influencer marketing into a brand’s overall strategy would help capitalize on this effective way to reach consumers.
Check out the following sources to learn creative ways to implement product sampling and coupon strategies, as well as best practices when working with influencers, to gain new consumers and keep them loyal:
- Fullscreen Media and Shareablee, Influence by the Numbers: The True Impact of Cross-Social Influencer Marketing, April 8, 2018.
- Power Reviews, 6 Tips for Effective Product Sampling Campaigns, October 16, 2017
- Rakuten Marketing, Influencer Marketing: Global Survey Report, March 2019 (registration is required to access the full report here).
- Valassis, 2K19 Coupon Intelligence Report, March 22, 2019 (registration is required to access the full report here).
- WARC, Mondelez Innovates in Product Sampling, April 26, 2018.