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Are You a Best Friend Brand?How relevance and trust can get you into the Inner CircleSilverpop Best Friend Brands Study

Silverpop Best Friend Brands Study

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Overview ……………………………….……………………………………

Key Findings ……………………………….…….…………………………

The Best Friend Brand ………………………………........…………………

Getting Personal ……………………………….……..........…………………

Building Trust ……………………………….………………............…………

Summary: How to Become a Best Friend Brand ……………...

About Silverpop, an IBM Company …...….…………………………

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Contents


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BEST FRIEND BRANDS

WHY THERE IS A SIGNIFICANT OPPORTUNITY FOR BRANDS TO ENTER CONSUMERS’ CIRCLE OF TRUST

OverviewHow a brand corresponds with its customers is at the heart of relationship building and digital marketing is essential to this.

Silverpop’s Best Friend Brands study examines the changing online landscape and the way consumers now expect to be communicated with. The study is based on an Opinion Matters survey of nearly 4,000 consumers across the U.K., U.S. and Germany, looking at their online shopping habits and opinions on brand correspondence.

This whitepaper discusses the results from the study, looking at current expectations from consumers for the way they are being marketed to, as well as the ways they would prefer to receive correspondence from brands. It also includes comment from Silverpop’s product strategist Dave Walters on what the results mean for the

Silverpop, an IBM Company, therefore commissioned a study to provide a better understanding of the way consumers are currently being marketed to online, and just how well this outreach is resonating. It reveals the high standards consumers expect from brands when it comes to the content they are receiving in their inboxes each day, their motivations for opening or deleting an email and the reasons why they would click through to make a purchase from it.


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Key Findings

The emergence of Best Friend Brands

The most notable aspect the study has shown is a growing trend for consumers having Best Friend Brands – the companies from which they will repeatedly open email correspondence and buy products online from.

The research highlighted that consumers only tend to have a limited number of brands who they always open email correspondence from. Globally, this averages at around 4.5 brands. For companies, being a Best Friend Brand is crucial as it

messages are encouraging loyalty, and likely, purchases. Delving further into the phenomenon, consumers were asked to specify how many brands they had purchased products from in the past three months online. Around the world, consumers on average only purchase from three brands online within the space of

three

months, suggesting outreach needs to be relevant, timely and appropriate.

The Expert Weighs In:

“The fact that consumers have such a small number of Best Friend Brands makes a really powerful statement for marketers. The relationships consumers form with brands is, in many ways, very similar to those they form personally. Once a bond is made, a loyalty is in place which means brands can expect repeat purchases, but only as long as that trust isn’t broken. It’s a small circle of trust, but something brands can certainly achieve if they are taking care with their correspondence and communicating with consumers in a personally relevant and timely fashion. The power of email is evident here.”

Dave Walters, product strategist at Silverpop, an IBM Company


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Getting PersonalThe relationships brands are building with their target audiences clearly matter – and the study revealed that relevance is at the heart of this. The research showed nearly three quarters (71 percent) of consumers would be more likely to make a purchase if the initial email outreach from a retailer or brand had been tailored especially to them, based on their likes and preferences following previous behavior. This requirement for emails to be relevant to the individual was especially high in Germany, where 81 percent said they considered it to be a vital factor in their ultimate decision whether or not to go on and make a purchase.

left unopened,

the study found more than half (58 percent) of consumers across

the globe reiterated the importance of personalization - saying they

wouldn’t even open an email if they thought it irrelevant to them or their needs.

Ensuring the subject line is appropriate also goes a long way to building the kind of Best Friend relationship that will encourage consumers to consistently read your correspondence. The research showed 40 percent of consumers worldwide wouldn’t open an email if the subject line wasn’t relevant to them.


“A critical element to becoming a Best Friend Brand is personalization. It’s interesting to see just how many consumers not only want correspondence to be personalized to their needs, but are actually demanding it from brands, with more than half of people saying that wouldn’t even open an email if they deemed it irrelevant to their needs. The importance of the subject line is also key here. After all, sending a message that is destined to remain unopened is a pointless exercise and waste of money, so making sure that all aspects of the message are personalized to each individual is something marketers need to ensure they are doing.”

0 10 20 30 40 50 60

17%

87%

29%

Yes probably

No

Would you be more likely to make a purchase if an email was tailored to your likes and preferences?


Silverpop


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Building Trust – Don’t Ruin the FriendshipBuilding relevancy leads to trust, and trust is a major aspect of becoming a Best Friend Brand – this explains why some emails are opened and others are not. The Best Friend Brands study showed 64 percent of people would open an email

simply because they trusted the brand – this was even more important for consumers in the U.S., where as many as 70 percent of those questioned said their existing relationship with the brand went a long way in determining whether or not they would open an email from them.

More than a quarter of respondents globally said that a brand’s email approach had stopped them from buying. Email clearly plays an important role in building a relationship and needs to be executed properly if a company doesn’t want to alienate

a company because of its poor email marketing outreach. Investigating further, the research showed saturation to also be a key issue, with 34 percent of respondents saying they would leave emails unopened if they receive too much correspondence from the brand.

approach right. Email remains a crucial marketing tool – 17 percent of the people Silverpop surveyed said they tend to purchase directly from a brand email once a month. This

percent).

digital marketing campaigns – but they need to give email marketing the attention


“It makes sense that getting to know a customer better and listening to their needs will help a brand evoke their trust, but it’s impressive just how far this trust goes toward a consumer’s inclination to open any further correspondence.

a brand in the future because they had been irritated by their email approach. Getting email just right is critically important. The last thing any brand wants is to deter a customer from buying from them ever again!”

Has a brands’ email approach stopped you from buying from them?

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74%

26%No

Yes


run


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it deserves. The study found only 14 percent of respondents worldwide didn’t see email as important in the communications they received from their favorite brands. This number was even less in the U.S. and Germany – in these regions only eight percent of those surveyed didn’t see it as important.

Exploring the importance of email further shows, despite the advent of mobile, social and display, 67 percent of consumers want to receive information such as

method.


“One of the major takeaways from the research was the overall prominence of email and how important it is to consumers in the way they interact with brands. Marketers can’t treat email as an afterthought of their

digital campaigns. This research shows it’s still a very crucial part of the marketing arsenal and should be treated as such, with investment

put into getting it right.”

What types of information would you prefer to receive via other channels?

0 10 20 30 40 50 60 70

67%

21%

13%

12%

10%

10%

1%

There are not any types of information that I would prefer to receive via other channels

New Product information

Account information

subscription renewals, delivery notices, etc.)

Newsletters

Others (please specify)



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Summary – Become a Best Friend BrandWorldwide, consumers are developing Best Friend Brand relationships with

The digital marketing space is getting more crowded all the time with consumers receiving a steady stream of marketing messages each day, so cutting through the noise and becoming one of these brands should be imperative to marketers

Best Friend Brands, the window of opportunity to become one of these is small,

they follow the correct processes to get their message across.

The most important takeaway is just how crucial personalization is to consumers. More and more people want outreach that is tailored to them, their preferences, and their previous behaviors. There’s no room for blindly sending

out

emails

to consumers without any idea of what they want to receive Consumers

will no longer tolerate outreach that has been ill-thought out and doesn’t

Marketing departments need to get processes in place that will help reach

their entire audience with individual emails, all targeted and personalized for each potential customer. Email is clearly an important part of the marketing arsenal and there’s a great opportunity for brands that get it right. There’s not much room in the inner circle, so those who move quickly can build Best Friend Brand relationships for life.

companies online.

match their needs.


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About Silverpop: Silverpop, an IBM company, is a digital marketing software company focused on helping marketers transform the customer experience — increasing engagement and driving revenue. Silverpop makes this possible by using customer data and each individual’s behaviors to inform and drive every interaction in real time. Watch our demo to see our product in action, and contact Silverpop to see how we can help you accomplish your marketing goals for 2014.

http://www.silverpop.com/demo/

http://www.silverpop.com/demo/

http://www.silverpop.com/contact-us/index.html

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Best Friend Brands - Como construir marcas poderosas