Brand Perception

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Brand Perception

Consumers' selection of preferred brands depends on the positive experiences they have that may include physical staff interactions, online customer service, and advertising strategies. Customers' trust in advertising channels such as TV and print ads are still on top, but the trust in social media decreased in 2018, making it the least trusted.

FACTORS AFFECTING/INFLUENCING BRAND PERCEPTION

CONSUMER EXPERIENCE:

  • According to a survey conducted by InMoment, 65% of consumers report that staff interaction has a profound impact on their decision to buy more products from a brand, while another 65% said that access to educators and experts is highly influential.
  • According to InMoment, 74% of consumers believe that poor interaction with staff lead to lackluster brand experience, while only 21% considered the price.
  • Satisfied and engaged customers influence a company's revenue, profitability, and brand perception. According to a study by Oracle, 74% of senior executives consider customer experience to have an impact on the enthusiasm of customers to be loyal advocates.
  • According to Help Scout, 91% of unhappy customers will not be willing to do business with the same company again.
  • According to Super Office, 13% of dissatisfied customers will express their dissatisfaction to at least 15 people, while those with a positive experience will share it with six or more people.
  • As part of online consumer experience, in a survey conducted by The CMO Council, at 88.4%, a vast majority of the survey respondents said a negative ad experience might "make them think differently about a brand or reconsider doing business with it." This negative experience can be due to wrong advertising placement.
  • About 42% of companies believe that customer experience will improve customer retention.
  • "According to WOW Local Marketing, 52% of customers are less likely to engage with the company because of bad mobile experience."
  • Customer loyalty is still attributed to product reliability (70%) and price (55%).
  • In a survey, 42% of consumers said that it is very important to have positive interactions with the customer service team to drive brand loyalty; 30% considered the ethical and moral standards of the company as an essential driver for brand loyalty; 26% said that customer rewards/loyalty programs are very important.
  • Also, 34% of customers are lost due to decreasing product or service quality, 19% due to increasing price, and 15% due to poor customer service.

OTHER FACTORS

ABOVE AVERAGE OR PREMIUM PACKAGING:

  • According to an infographic from Bouvier Kelly, more than 50% of web consumers say they'll make additional purchases from a business that uses above average or premium packaging.
  • 40% of shoppers say they were somewhat more likely or much more likely to purchase from a retailer again if their purchase came in a gift-like or premium package.
  • More than two-thirds of those who said gift-like packaging has an impact on brand perception feel it makes the brand seem upscale.

EVENTS AND EXPERIENTIAL MARKETING:

  • 41% of consumers rated events and experiences as the best advertising method to understand products — second to company websites.
  • 91% of consumers said they had more positive feelings about brands after attending events and experiences.

CHANGES IN CONSUMER EXPERIENCE AND BRAND PERCEPTION

  • According to Nielsen, from 2007 to 2013, there was a 6% change in trust for advertising "recommendations from people I know."
  • From 60% in 2007 to 69% in 2013, consumers' trust changed for advertising on branded websites.
  • About half of survey participants in Nielsen's study "said they trust ads in search engine results, online video ads, and ads on social networks," while 42% trust online banner ads — a 26% increase from 2007.
  • TV, newspaper, and magazine ads have remained among the most trusted channels for paid advertising, with a 10% increase in trust in TV ads between 2007 and 2013.
  • Before, consumers trusted brick-and-mortar stores as they had no price comparison services and were at the mercy of large corporations for discount.
  • In 2005, "Moment of Truth" coined by P&G, was the most celebrated marketing framework.
  • The Zero Moment of Truth (ZMOT), coined by Google in 2011, described how digital channels influence customer decision journey.

AVAILABLE CHANNELS

  • According to MarketingSherpa, 82% of US consumers trust print ads, 80% trust TV ads, and 76% trust ads/catalogs received in emails, while online pop-ups are the least trusted.
  • According to Marketing Land, after friends, TV, search, and newspapers, social media is the least trusted media source for consumers.
Sources
Sources

Quotes
  • "Enabling memorable CX should be paramount in every business goal. Satisfied and engaged customers determine a company’s revenue, profitability and brand perception to the general public. To back this up, a study by Oracle found that 74% of senior executives believe that customer experience impacts the willingness of a customer to be a loyal advocate. "
  • "According to Verint, “New research from Ovum and Verint Systems surveying more than 18,000 consumers across 9 countries reveals that: 61% of consumers would tell their friends and family about their experiences, while 38% reported that they would write a positive review."