NOTEBOOK: And the survey says: Consumers want more from brands
BPC Staff May 18, 2021 | 8:16 pm
1 min read time
341 wordsBusiness Record Insider, Sales and Marketing, The Insider NotebookConsumers want more from a brand than just a quality product or service. They want to be inspired. They want brands to advocate for them. They want brands to provide value-added information.
West Des Moines-based marketing agency Meyocks surveyed 1,523 people ages 18 and older from across the country via an online platform. The survey has a margin of error of plus or minus 3 percentage points.
According to the survey, consumers want businesses to educate and advocate for them through “mentor branding.”
“Mentor branding is an opportunity for businesses to create stronger bonds with customers by inspiring them, advocating on their behalf and providing value-added information,” said Doug Jeske, president of Meyocks, in a news release announcing the survey results.
According to the survey’s findings:
- 88% of consumers say brands should provide valued-added information to their customers.
- 75% of consumers believe brands should work to inspire customers.
- 75% of consumers think brands should advocate for their customers.
Looking a little closer, the survey found that 64% of those surveyed want brands to provide information on how to get the most out of a product or service. Forty-seven percent want companies to inspire them to improve their personal lives, and 46% want businesses to use their brands to advocate for the environment.
In other findings, 56% of those surveyed said they would stop buying or boycott a brand if it doesn’t align with their beliefs. Fifty-seven percent said they would be willing to pay more for a brand that advocates for something they believe in.
Jeske said brands that demonstrate those mentorship characteristics perform better. “We’ve found that brands that rate high in these characteristics enjoy faster revenue growth,” he said.
The survey also found that younger generations are more likely to choose brands that inspire and advocate for them. It found that:
- 91% of millennials and 90% of Generation Z want more value-added information.
- 76% of millennials and 74% of Generation Z are willing to pay more for a brand that advocates for something they feel strongly about.