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BizReport : Advertising : May 12, 2020

Study finds consumers want deeper brand connections

Gone are the days when a shopper simply wanted a good product sold at a good value. According to new data they now want connections with their favorite brands, and those connections include giving back to brands.

by Kristina Knight

New data out from AspireIQ finds that more than half of consumers are interested in joining the loyalty/reward programs (52%) of their favorite brands, but nearly half also want to 'give back' to brands (42%) in the form of feedback about products or services. One-third (35%) say they'd like brands to interact or respond to them via social media.

The problem? While consumers have said what they'd like their connection with brands to be, many brands aren't giving them what they want. AspireIQ's researchers found that only about 20% of consumers feel their brands engage with them in a 'personalized way' and about 66% say they don't feel that currently they are 'adding to' brands' stories or culture.

"We've officially entered the participation economy, where consumers want to have a say in shaping the brands and products they love. Brands that recognize this, and welcome consumer voices and values into their communities, are more likely to drive loyalty and sales," said Anand Kishore, Co-Founder & CEO, AspireIQ. "As this data shows, brands need the intelligence to understand what works. AspireIQ is excited to partner with some of the most successful brands in the world to engage their communities and drive real business growth."

Brands are beginning to tune in to these new consumers needs, however. According to the report 70% of brands have formed 'active communities' in the digital space and nearly all of those surveyed (92%) say they're communities have had a good impact on the business as a whole.

Overall, 90% of consumers who responded to the survey say they engage 'in some way' with their favorite brands and half say they 'are eager' to contribute more to their favored brands' stories.

Tags: advertising, advertising trends, AspireIQ, brand connection, ecommerce, loyalty marketing, mobile marketing, social marketing

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