Consumers Want Connection, Can Brands Deliver?
Consumers Want Connection, Can Brands Deliver?
with Brittany Bosco, Effy Okogba, Grace Robinson-Leo and Noemie Le Coz
By HURS Team
The role brands play in our lives has shifted in more ways than one. Nearly 80% of marketers say their industry changed more in the past three years than in the last 50. A factor that has significantly impacted the evolution of consumerism is digital media. The democratization of knowledge has led to a power shift – from corporations and brands to individuals. The rise of social media has allowed us to become our own experts and reviewers or sort out those whose opinions we trust to make more informed purchase decisions. With this shift came the necessity to overhaul how brands and products are presented to us. Since then, many brands have tried to crack the code on how to engage with consumers. But only a few have done so successfully.
The gap between brands and consumers isn’t as large as it used to be. Social media has created a direct line of communication between the two. While it sounds like a great opportunity, many brands have been reluctant to truly level with those who follow them. There’s an unwillingness to fully lift the curtain. Afraid to give up the image of perfection, some brands simply use social media as a new platform to promote their latest products or campaigns. Unfortunately, that’s not what consumers want. 86% of consumers say authenticity is a key reason they buy from a brand. In the isolated digital age, more than ever consumers are looking for connection. Both with other humans as well as with brands, beyond just social media. They want to be part of a community, with like-minded consumers, led by a brand that aligns with their values and POV of the world. It also grows the bottom line. A Harvard Business Review study found that consumers who are fully connected to a brand are worth 52% more to a business compared to someone who isn’t. But how can brands build these tribes around their businesses in a way that’s authentic and connects to today’s shopper?
We asked four industry insiders about the changing branding landscape, the shifting relationship between brands and consumers and the key ingredients for building a brand that connects to culture.