FEED is Razorfish’s annual study charting how technology is changing the way consumers engage with brands. Razorfish is the biggest digital advertising agency in the world. They work with clients like AT&T, Mercedes and Coca-Cola, and so it’s in their best interest to stay on top of how new customers are created online today.
The report is a research paper with both hard data and expert evaluations. But, it’s mostly spelled out in the context of larger multi-national brands. So, we at Juicy Results wanted to extract the trends and insight that we think is most valuable for small businesses.
Right now, in 2009, here are some key insights into how new customers are being created online.
Consumers look for deals online.
This was the most prevalent theme of the research. All those fans and followers of your company are likely all connected to you in the hope that you’ll reward them with something special and exclusive. Which, they all seem to think, will most likely come in the form of a deal—be it a coupon, special offer, exclusive promotion or two-for-one.
This isn’t to say that people online don’t have money or want to spend it with those they meet online. Quite the contrary considering this study only focused on those who spent over $150 in the last six months online, and 64% of which admitted to making a purchase after first learning about a brand online.
However, deals were their admitted motivation for connecting with businesses online via social media.
The Internet is the dominant media for those under 45.
That’s right—people in this group spend significantly more time online than in front of the TV. How much are you paying for those TV ads? Talk to us about what that budget can accomplish online. Free bonus: we’ll even be able to measure your results.
Image isn’t everything, but it matters.
When someone hears about you, meets you or sees your offline ads, what will they find when they go online to learn more? Don’t just think about your website, think about what they will find when they put you or your company’s name in the Google search bar and hit “enter.”
I think this line, straight from the report, illustrates it perfectly:
For those brand marketers still neglecting (or underestimating) digital, it’s as if they’ve shown up to a cocktail party in sweatpants. Invariably, consumers will choose to converse with a savvier—and hopefully more stylish—partner.
Connected consumers are now the mainstream.
OK, this one will be obvious to most readers of this blog. But, it’s worth hitting you over the head with the fact that unnconnected consumers are now the minority. So, if you as a marketer or business owner are not connected, it’s going to be hard for you to understand the motivations and mindset of the rest of us. Find someone that is and keep them close.
Businesses are becoming content providers.
OK, this was only mentioned in passing in the report. But, the observation was made and this just happens to be something we preach here at Juicy Results. People go online to get answers, and they buy from the people who inform, educate, entertain and persuade them. As a business who wants to market online, you need to build or outsource the resources and expertise to publish relevant and compelling content about your market, your products and your business.
Here’s one other thing that I thought was important to share from the report. It’s a testament to the level of engagement you can have with your customers online.
Consumers clearly don’t believe that digital is a one-way medium, either. A surprising 69% of them have provided feedback to a brand, either through its web site or a thirdpart service like GetSatisfaction.com.
Those of you who market successfully through events can likely understand the power engagement has over creating new customers for your business. It’s just cheaper and more flexible online.
Hopefully, you found this worth the read and learned something that will make you look at your online marketing differently. That’s what we’re here for.