NEWS31 October 2014

Brands must help customers do more with less

News UK

UK — Brands must learn to manage the more/less paradox affecting society said Joe Staton, director GfK market opportunities and innovation (MOI) at the Market Research Society’s Customers Exposed conference yesterday.

As brands are dealing with a finite amount of time in which they can reach consumers they must manage the paradox of people needing to achieve more with less.

So while there is more urban living there is less rural; there are more distractions and less time and more data and less clarity he said.

Within this more/less paradox, brands have become more powerful said Staton. He pointed to a number of global drivers that are beyond customers’ control but are at the root of this change: ‘experience’ – everyone wants great experiences, not just holidays but from brands continually; ‘streamlined’ – keep it simple; ‘considered consumptions’ – are you authentic and honest as a brand and ‘redefining value’ – do I want it, can I afford it? What is its quality?

“We look at personal values – the guiding principles by which we live our life. We use this to connect brands with values. When they connect there are high levels of traction,” said Staton.

He also went on to define consumers into the following groups: Survivors – living hand to mouth; Traditionalists – particularly in terms of gender; Achievers – they have money and want to buy things; Hedonists – just want to have fun, the majority in Europe fall into this group; Social rationals – caring, social responsibility; Self-directors – don’t follow the herd, be your own person and Nurturers – friendship circles are important to them.

“We see self-directors growing globally,” said Staton. “By 2038 the majority of UK will be showing self-directed behaviour – values of freedom, self-reliance and authenticity. There will be growth in social rationals too – if you’re a brand you’ve got to align your values with these.”

He closed with three key points for brands:

  • Help customers do more with less.
  • Be aware of the evolving Values horizon.
  • Align your brand values to my Personal Values.

@RESEARCH LIVE

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