Price and affordability, followed by trust, are important factors for consumers when purchasin

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 26, 2020, 2:53 AM UTC

Brands can build influence through authority and empathy, as per Edelman’s recent report.

The report states that price and affordability is a prime factor, followed by trust at 53%, for consumer when purchasing. Becoming a loyal customer comes in at 49%. Personal experiences (59%), earned media (44%) and trust-building advertising efforts (23%) are factors that build trust in a brand.

44% of consumers started using new a brand “because of the innovative and compassionate way” in which they responded towards the pandemic. However, 40% of consumers stopped using a brand because they didn’t respond appropriately to the pandemic.

Industry experts (60%), “a person like yourself” (59%) and brand technical experts (49%) were identified as credible spokespersons for building trust among consumers. The least credible are celebrities, influencers with millions of followers, and influencers with small following.

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