Few marketers would dispute that brand image is an essential part of the DNA of any successful brand that’s out there today. However, as important as brand image may be, the construct does pose quite a challenge: measurement.
Over many decades, studies show that the top-performing brands on brand image scales outperform competitors on a variety of outcomes. To name a few, a positive brand image results in the brand grabbing more attention, increasing the consumer’s willingness to pay price premium, and even succeeds in making the product usage experience more pleasant. You can deem brand image as the heart of a brand, pumping oxygen into the many separate systems that keep it healthy and thriving.
Posted in Research, Archive
published on Tuesday, 18 October 2022
Did you click? Clickbait is a strategy for viral journalism, where the hunt on clicks is accelerating. Powerful and emotional words can make your headline irresistibly clickable, as previous research already showed that clickbait headlines were successful in baiting clicks.
A loyal example of clickbait usage is the website Buzzfeed, where titles are calling on emotions and curiosity by not revealing the conclusion of the article (see figure). This website is known for its rigorous use of analytics and A/B tests, showing that they will be fully aware of the effects that these clickbait headlines have on article clicks.
But does clickbait also contribute to shares and word-of-mouth or do they elicit a certain level of distrust or disappointment?
Posted in Archive, Strategy
published on Monday, 01 August 2022
If there’s one thing that retail psychologists have learned over the years, it’s that choice isn’t always good. Few people will be excited by facing 382 options of laundry detergent. Alternatively, 382 options of craft beer may be exactly what pulls the customer into the aisle (it works for me), sparking the promise of hoppy exploration.
While choice can be alluring and liberating in some purchase contexts, it can be downright paralyzing in others.
This explains why in many studies, both in the real world and the lab, decreasing choice has been found to be beneficial for the bottom-line sales. (don’t worry, I won’t be citing the infamous ‘jam study’, which adorns the opening paragraph of so many articles on product assortment) On the other hand, many other studies still show the adage ‘the more the merrier’ to be true on the store shelf as well.
Clearly, whether choice is good depends on moderating factors such as product category, type of store and the shopper itself. Fortunately, Sethuramana et al. (2022) conducted a large-scale meta-analysis, providing insight into how these factors operate and intertwine to influence shopping outcomes. The researchers analyzed an impressive number of 177 studies obtained from 95 academic papers published during 1970–2021.
In this blog, we’ll sum up their most essential findings and discuss important practical implications for retailers.
Posted in Archive, Strategy, Conversion
published on Tuesday, 12 July 2022
Working 8 hours straight, hitting the gym, preparing food, and trying to make time for your loved ones… Sounds familiar? You are desperate for some leisure time but how do you make the time?
You might think that cutting some of the chores would be enough but, in fact, you can do that with easy-to-use products and services such as ordering essential online goods instead of picking them up, and controlling all your basic home needs on your smart speaker via Google Assistant. “Hey Google, add potatoes to my shopping list”. We’ve actually done something much more convenient which is we eliminated going to a store and browsing through the internet to place an order. For example, you’ve always wanted to pursue your academic career passion overseas in the field of Data Science but in today’s world, you do not need to go overseas to study instead you can just enroll in Harvard University’s professional and lifelong learning program or just go over the Coursera for Google Data Analytics Certificate program. As Twitter co-founder, Even Williams says “Convenience decides everything.”
Convenience has a long history in marketing, but mostly as a driving force of why we like products: we love things that make our lives easier. However, a new study shows that convenience has an interesting side effect. It can reshape brand perception in surprising ways, as well as influencing downstream consumer behavior.
Posted in Archive, Strategy
published on Tuesday, 28 June 2022
How often do you research a product online before going to the physical shop to make your purchase? Most modern-day shoppers can no longer live without the so-called process of webrooming.
In fact, at least 74% of shoppers are webroomers. Almost half of webroomers do so because of a need for touch (NFT): the desire to feel, touch or smell a product before making the decision to buy.
Understanding such cross-channel customer experiences is a must for modern-day retailers. Get ready to find out just how going through online shopping windows and the need for touch influence customers’ in-store shopping behavior.
Posted in Archive, Conversion
published on Monday, 13 June 2022