In brandshare 2014, we extended Edelman’s largest-ever consumer marketing study, seeking to further understand the evolving relationship between people and brands. We wanted to know: what’s the business benefit of meeting people’s needs rationally, emotionally and societally? And how does this drive value for brands?
Ultimately, people seek mutual benefit from their relationships with brands. By fulfilling consumer needs, brands trigger consumer actions. These actions help build and preserve brands. There is both mutual contribution and mutual benefit. We call this the value exchange.
Through brandshare, we compared the relationship between consumer needs and brand behaviors. We determined whether consumers believe there is value exchange, assessed whether it has business value and articulated how to create a relationship that maximizes brand and consumer benefit. To do this:
- We surveyed consumer needs through nine need statements. These ranged from traditional needs, such as “consistent products and services,” to new and high-order needs, such as “the brand having a purpose that people can believe in.”
- We tested 14 brand behaviors, including “invites consumer participation in product development,” “openly shares its vision for the future,” “is quick to respond to people’s concerns and complaints” and “invites consumers to interact online.”
- We evaluated five actions that people may take that will benefit brands. Here, we started by looking at traditional metrics, such as purchase and recommend. We also included actions that are increasingly important in a hyper-connected and shareable landscape, such as defending brands, sharing brands’ content or sharing personal information.
Take a dive into brandshare to discover what fifteen thousand consumers told us about their relationships with brands today.
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