retail

IBM Global Study Shows What Matters to Millennial Shoppers

Posted by brandchannel on November 18, 2014 06:36 PM

The following is a guest post by Jill Puleri, Vice President and Global Industry Leader of Retail and Consumer Products for IBM Global Business Services

 

Conventional wisdom suggests that brand loyalty is on the decline. But, a new IBM study suggests otherwise.

Marketers who blame declining brand loyalty for lackluster sales need to rethink how they understand their consumers.

In today’s digital, social, and mobile world, brand loyalty (or a shopper’s propensity to buy the same product over and over again) is only a fraction of the equation. What’s missing is engagement, and, according to a new IBM Institute for Business Value (IBV) study, a new metric is needed: brand enthusiasm.

A new class of “power consumers,” called Brand Enthusiasts, are leading the pack in terms of consumer-brand engagement. They have a strong preference for one-to-one interactions, are very willing to share personal data, and are passionate about contributing to new product development.Continue reading...

brand speak

Brand Speak: Yahoo Insights Guru Lauren Weinberg on Engaging Millennials

Posted by brandchannel staff on November 11, 2014 05:05 PM

The following is a guest post by Lauren Weinberg, Vice President, Strategic Insights and Research, Yahoo

Capture the Hearts and Minds of Millennials with Creative Content

It’s no surprise that millennials are so popular among digital marketers. This group of highly connected individuals makes up 27 percent of the U.S. population. They spend 18 hours a day consuming media and check their smartphone 43 times a day. And, most importantly, they have buying power. According to a recent Mintel report, millennials in the U.S. will have more than $1.4 trillion to spend by 2020.

While millennials may be the ideal digital consumers, the way marketers reach them needs to be carefully considered. That’s especially true when it comes to content marketing, which can be a highly effective channel for reaching this group. In fact, according to a Crowdtap report, millennials find content marketing 35 percent more memorable than other sources of information.

The fact that millennials are more open to content marketing means that brands already have a foot in the door, but that shouldn’t be taken for granted. Millennials have distinct expectations when it comes to the ads they engage with and share, raising the bar for marketers. Reaching millennials through content marketing hinges on understanding their values and their daily habits.Continue reading...

bc q&a

5 Questions: Leslie Gaines-Ross on the Price of Brand Incivility

Posted by Sheila Shayon on October 30, 2014 02:44 PM

The fifth annual Civility in America study from Weber Shandwick finds that America has a decorum deficit—and there are implications for brands.

Millennials (born post-1980) and Gen X (born between 1965 and 1980) blame the Internet and social media for worsening attitudes and increasingly negative interactions, while Boomers (1945-65) and the Silent Generation (pre-1945) mostly blame politicians and politics. 

This year's study, conducted with Powell Tate and KRC Research, has flagged findings for brands pursuing engagement with millennials, seen by many marketers as the most influential and financially important segment that is empowered and poised to make good on their beliefs.

As the study reveals, millennials are the most likely to stop buying from a company that treats them uncivilly, and will advise others to do the same. Professional and college sports are losing fans, as 24% of millennials have stopped attending sporting events because of uncivil behavior on the field or in the crowd. 

brandchannel spoke with Leslie Gaines-Ross, chief reputation strategist at Weber Shandwick, about the report's insights into the opportunity for brands to engage millennials in a more civil, authentic manner. Continue reading...

celebrity brandmatch

LeBron James Homecoming is a Slam Dunkin' Donuts for Brand Partners

Posted by Mark J. Miller on October 29, 2014 05:21 PM

The return of LeBron James to Cleveland is being trumpeted as "the biggest sports homecoming of this generation" and "the hottest ticket" in the NBA—and has been heralded by the plethora of brands he endorses, including Beats by Dre and Sprite, too.

While some find the story of the two-time NBA champ returning to northern Ohio to bring some victories to his home state uplifting (a new baby girl just sweetening the saga), some critics think the narrative has been driven home one too many times. Fans, however, seem to be on the uplifting end of that spectrum—along with his brand partners.

According to new research from social analytics firm 4C, King James' Ohio comeback has resulted in “huge increases in social engagement between LeBron, the brands he endorses and the Cleveland Cavaliers.”

Led by Dunkin' Donuts, brands have seen the pay-off for signing endorsement deals, with big spikes in social engagement since the superstar made his announcement he's returning to Ohio in July.Continue reading...

sustainability

Brands Find Sustainability Moving to the Top of Major CSR Initiatives

Posted by Sheila Shayon on October 27, 2014 12:34 PM

Maximizing shareholder value has a new handmaiden: sustainability. And corporate social responsibility is her mirror.

“Social responsibility should be viewed through the lens of maximizing shareholder value,” commented The Wall Street Journal’s Bruce Nolop. “It’s no longer a 'nice to have.' It’s a strategic imperative."

No matter the industry, it’s increasingly clear that sustainability can drive profit, as Chris Humme, CMO of Schneider Electric, notes. He cites Intercontinental as a prime example of how green practices can lower costs—the hotelier has reportedly saved $30,000 a month at just two San Francisco hotels by micro-managing peak power.Continue reading...

corporate citizenship

Millennials and Citizenship: It’s a Brand New Day for Marketers

Posted by Sheila Shayon on October 14, 2014 11:02 AM

Millennials already number nearly 2 billion worldwide, or nearly 30% of the world’s population, and they will comprise 75% of the workforce by 2025, according to Deloitte.

In addition, the earning and spending power of Millennials will exceed their Boomer parents by 2018, which is why brand marketers are stretching to meet these digital natives who come equipped with conscience, confidence and competence.

A recent survey of 8,000 Millennials in 17 countries on active citizenship by MSLGROUP and Research Now, "The Future of Business Citizenship," identifies key insights about the rising cohort and what they expect from business and advertising.

brandchannel asked Scott Beaudoin, Global Practice Director, Corporate & Brand Citizenship, MSLGROUP, commented on what the global study indicates that brand marketers must to resonate with Millennials.Continue reading...

privacy alert

What Price Privacy? A Penny for Your Thoughts and a Cookie for Your Data?

Posted by Sheila Shayon on October 3, 2014 03:44 PM

In the height of irony, cookies, the real kind, not the ones on the Internet that track consumer’s behavior, were the centerpiece of a recent experiment in New York where 380 people divulged sensitive, personal information in return for a tasty treat.

Chocolate Chili Fleur de Sel or Pink Pistachio Peppercorn cookies were the carrot and the reward in artist Risa Puno’s art event, "Please Enable Cookies," held at the recent Barter Town event at the Dumbo Arts Festival Brooklyn (next stop: the Brooklyn Museum on Oct. 25).

Each "purchase" is based on sliding scale of how much hackerlicious data each customer shares, filling out a checklist including home address, driver's license number, phone number and mother's maiden name. The more you share, the more homebaked cookies you earn.

The use of cookies was no accident. As Puno describes it, "Digitally, cookies are what websites use to get information about users. My installation, Please Enable Cookies, is intended to highlight the way we use information as currency (whether we know it or not) to acquire things that are simply for entertainment or amusement."Continue reading...

privacy alert

Hotspotty Training: Parents Sign Away Kids, Pets for Free Wi-Fi

Posted by Mark J. Miller on September 30, 2014 12:09 PM

People will apparently do anything for free public Wi-Fi, it seems. European law enforcement agency Europol recently backed an experiment in London that saw consumers signing onto free public Wi-Fi unwittingly signing away their oldest child or a beloved pet.

When Londoners registered for a public hotspot in June, they were required to sign an agreement with a so-called “Herod clause” that had them agree to “assign their first born child to us for the duration of eternity,” the Guardian reports. Six people went right ahead and (unwittingly) signed away their first-born kids.

It was all part of a "Great Wi-Fi Experiment" (watch below) by IT security company F-Secure, which helped the Cyber Security Research Institute showcase “public unawareness of serious security issues concomitant with Wi-Fi usage,” the Guardian notes.Continue reading...

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