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Below illustrates the challenge of the moment – 73% (and rising) of customers EXPECT brands to understand what they want, but 65% of customers have STOPPED buying from brands that broke their trust – this is the ultimate Data + AI challenge!
- Taking Your Pulse: In tough times, every person and every industry had to make adjustments. But those adjustments didn’t happen once and then life kept rolling forward. Every day sees different challenges, which meant that consumers and businesses were forced to constantly adapt. In order to stay on top of everything that was happening in the world of marketing, it is good to constantly check in with and survey leaders in the industry.
- Zoom Out: When there are so many insights in a report, it’s easy to get fixated on one data point or audience segment, but it’s important to look at the entire picture. If you only focus on, for example, a big shift in how millennials are consuming content, the other segments of your audience may get ignored, which ultimately will impact your bottom line. Take in the whole picture and make decisions based on everything you know.
- Consistency is Key: Consumers reward brands that maintain a consistent set of values. When the world changes or the needs of the consumer base shift, brands should stay true to the key tenets that they set up for themselves, show empathy, and be transparent with the decisions they are making. Those are the only ways to build lasting trust with consumers.