29 Dec What makes consumers to prefer your brand?
We are just about to begin a new year and all of market goalsand strategies are settle for a new beginning but what really makes a consumer choose between a brand and another? Is there a way to make all of our strategies work better? A recen study made by Quantcast sais that 56% of consumers are looking for products of a brand they know and 49% of them a known brand. However, 60% of brands will eventually become a new brand.
To which degree will consumer choice remain loyal toward a familiar brand?
The study has been conducted in the United States, United Kingdom, Australia, France, Germany and Italy, and indicates that consumers have an advanced knowledge of 9-10 brands on average. In general, when looking for a product, they initially look at 2-3 brands, before moving on to one or two brands only.
The question, therefore, is to discover to what degree customers will remain linked to their initial group of brands. Of the eight sectors analyzed, fashion is an area where purchasing decisions are less ingrained, since only 69% of consumers plan to choose between one of these established brands, compared to an average of 75%.
Fashion is also the sector in which consumers are more likely to change their mind shortly before making a purchase (26%), compared to only 14% for high-tech equipment.
In which sectors do consumers change opinion more frequently when choosing a brand?
This is bad news for fashion brands in terms of customer retention, but good news for new brands and acquisitions: 27% of consumers agree that targeted advertising could lead to an investment in their decision, making them Pass to a brand that they did not use before.
When looking at the reasons for such an investment, a better value for money is the main motivation, according to 45% panel.
In 41% of cases, consumers will change their minds to benefit from a price reduction. The quality of the products and services is the first thing that is guided (23%), ahead of the purchase facility (18%) and the recommendation of a friend (11%).
So, what can we do to try to maintain our relationship with clientes?
Basically we list 4 strategies:
Lear about your clientes: Know your client’s preferences, hobbies, understand what he/she needs and provide it in the best way you can.
Share Your Knowledge: Generally, your clients come to you for a specific service or product, but you undoubtedly have a variety of skills and breadth of knowledge beyond the work you are asked to deliver. By doing this for free you will boost your client’s confidence, potentially leading to a wider scope of projects, extra work and extra pay.
Give Them Access to Your Network: Getting work completed well and on time is essential to maintain client relationships. If you have planned the project timeline clearly and realistically, fitting it into your overall work and life schedule, then this shouldn’t be a problem.
Be Honest: All human relationships work best when both parties are open and honest, including our relationships with the people we interact with through our work.Be honest about your capabilities, how long it takes you to get things done and exactly what skills you have. If you mislead your clients about what you can provide then there will be disappointment all round, the relationship will fail and you will lose work.
2017, we are ready!