Yahoo! and BBDO just completed a joint study which revealed that 95% of consumers “crave” engagement with brands and that leveraging storytelling on paid, owned and earned media (POE) “through the prism of a dating relationship” will increase marketing success.
"Humans crave stories and advertising, at its best, has always been about the business of storytelling to build brands," said Simon Bond, CMO of BBDO. "However, given the new media landscape of paid, owned and earned media, branded storytelling has changed forever. It's no longer what you say, but how you say it."
For more on the best practices for brand storytelling (one hint: don't shout!), click below.
Paid Media is akin to a "First Date"
• Paid media is the primary source for brand information and creating awareness: 73% of consumers saw/heard/read information about brands via paid media and almost half (46%) say "a great brand is like an interesting person at a party"
• 49% said if they see/hear the same ad over and over again, it makes them shut out the brand, while 47% said if brands are shouting their message too loud and frequently, they will view it like ‘aggressive’ advertising which 46% said makes the brand "less attractive"
• 82% will ignore a brand if it is viewed as intrusive.
Owned Media is about "Getting Closer"
• 96% of consumers want to know the price, product attributes and proof points
• 57% want to know brand history and quirky details
• 54% feel it is very important that brands provide information about "why we should care about them"
• Almost half (45%) are looking for interesting stories about the brand.
Earned Media is like "Being in a Relationship"
• 79% of respondents say brands should be "more genuine"
• An equal number believe it is important for brands (and people) to be down-to-earth and self-aware
• 77% want brands to be responsive and engaging
• 59% vote for brands to be "more empathetic,” with two out of three respondents acknowledging that brands "make mistakes," but the key is to respond and acknowledge their mistake (65%).
Based on these findings from more than 1,000 consumers and marketing professionals, Yahoo! and BBDO suggest a new framework for improved storytelling across POE media:
1. It’s not just what you say but how you say it. (Nearly half of all consumers surveyed want to tell brands, "Don't shout at me!")
2. Owned Media is where marketers have an opportunity to get consumers to take action...and to stay
3. Earned Media is the place where marketers can build "passion brands."
“We revealed the importance of sustaining engagement with consumers rather than just pushing them through the purchase funnel,” said Lauren Weinberg, VP of B2B Research & Insights.
No more brand blind dates on digital...marketers must pay for it, own it, or earn it!