Meeting Consumer Needs – Part 1
Where they are
Marketers labor to develop and effectively distribute influential marketing and advertising. This is illustrated by the amount spent on advertising each year and the sheer volume of advertisements that consumers encounter in their daily lives. According to Ad Age, the 100 leading national advertisers spent an estimated $104.5 billion on U.S. advertising in 2012. In 2007, Yankelovich estimated that a consumer living in the city saw, on average, up to 5,000 ad messages per day. At SpyderLynk, we wanted to find out what happens when a consumer notices and is motivated by marketing.
We are passionate about moments of consumer needs – moments when their interest is peaked, moments when they want something and moments when they may be prompted to act, but are limited in their ability to do so. And, most important – how we can satisfy consumer needs during these moments. At SpyderLynk, we’ve built a suite of tools and technologies to convert consumers’ needs, curiosities and desires in the real world to satisfaction via their mobile phones.
To better understand those moments and what mobile satisfaction means for consumers, we just completed a very enlightening research study with Research Now in which we surveyed 1,000 internet and mobile phone users across the country. We received responses from a wide spectrum of consumers ranging in age from 16 to 59, both male and female, and with a broad dispersion of household incomes. In this blog post and several subsequent posts, we’ll share what we’ve learned about consumers’ desires, perceptions, habits and satisfaction about advertising and marketing.
First, which is really good news for marketers, we found that, generally, marketers are making an impact, which the responses below validate. While some studies say that consumers don’t trust advertising, when we asked, consumers’ general sentiment was positive:
- Overall, 84% either enjoy and/or find value in marketing and advertising.
- 34% of respondents said that they either loved or liked receiving marketing and advertising.
- 53% of respondents said that they “occasionally” find value in the advertising/marketing that they see.
- Only 13% of respondents said that marketing and advertising “really bugs me” a lot of the time.
However, taking a deeper dive, we asked or survey participants how many times advertising made them curious and how many times they actively sought more information to satisfy that curiosity – and the results were enlightening. (Advertising was defined as TV commercials, in store marketing, magazine advertising, billboards or any other advertising method that a brand may try to communicate offers.)
First, let’s talk about how often advertising generates curiosity. In our research, we identified that advertising generates roughly 9.4 billion moments of curiosity in any given week. But, according to our survey respondents, they satisfy their curiosity less than 50% of the time, leaving a total of over 4 billion moments of curiosity unsatisfied.
We asked respondents how many times they were more curious after seeing a product advertisement:
- 49% of respondents said they were one to nine times more curious about a product or service after they’d seen an advertisement.
- 21% of respondents said they were 10 to 24 times more curious.
- And, the remaining 30% said they were 25 to more than 50 times more curious.
We then asked survey respondents when their curiosity was peaked, what percentage of the time they would actively seek additional information:
- 30% of respondents said they would seek additional information 1% – 19% of the time.
- 18% of respondents said they would seek additional information 20% – 39% of the time.
- 21% said they would seek additional information 40% – 59% of the time.
- And, the balance of respondents (31%) sought additional information more than 59% of the time.
Extrapolating the results, nearly half of respondents actively sought more information less than 40% of the time…meaning, marketers are missing golden moments of opportunity to satisfy consumers’ curiosity (and, possibly, convert those curiosities to sales!) This tells us that advertising and marketing is generating interest, but many of those that are interested walk away without satisfying their curiosity (absent an immediate way to do so like with a mobile activator.)
We also identified that advertising generates 8.7 billion moments of desire in a week. That is, on average, 44 moments of desire per consumer, per week. But, consumers are only acting on 20 of these moments leaving 24 unsatisfied moments of desire.
Per our survey results:
- 60% of respondents said that they immediately wanted something more one to nine times after seeing an advertisement.
- An additional 13% said they wanted more 10 – 24 times.
- And, finally, 27% said they wanted more over 25 times.
Yet, those same respondents, when asked what percentage of the time they actively sought more information:
- 33% said they sought more information not at all to only 19% of the time.
- Another 15% said they sought more information only 20% to 39% of the time.
- 18% said they sought more information 40% to 60% of the time.
- The balance of 33% said they sought more information over 60% of the time.
Similar to the first results about whether they acted on their curiosity, a large number of the respondents didn’t act even when they had a desire for more information.
We call it a mobile miss when a brand solution doesn’t satisfy the consumer in all of these moments. You have everything lined up to work. You have the plays, the talent and the discipline. But, even with everything in place, there still a miss. You have the right media, a carefully design advertisement, a compelling package or direct mail piece. You’ve caught the consumer’s eye. You have a message that peaks their interest. And, yet, you still miss being able to do anything for the consumer in their moment of need.
Next week, we’ll share what consumers told us they would like to see more of from advertising and how it would impact their perceptions and habits.