HOW CONSUMER BEHAVIOUR IS CHANGING AND WHAT BRANDS CAN DO TO CAPITALISE ON IT

@PipStocks@BrandHook

THREE THINGS TO TAKE AWAY FROM TODAY

1 2 3Understand the

seven ways consumer behaviour

has changed

Identify the key consumer needs for

today’s brand experiences

Demonstrate how other brands have

adapted & innovated to this

new world

THE CHAOS OF THE CUSTOMER JOURNEY

The PWC CEO 2015 report states that

9/10Australian CEOs listed

digital innovation and its impact on customer behaviour as the

number one disruptive trend they face.

THE CHANGES IN CONSUMER BEHAVIOUR

WE HAVE IDENTIFIED SEVEN WAYS THAT CUSTOMER BEHAVIOUR HAS CHANGED

1. CONSUMERS ARE NOW IN CONTROL

2. RESEARCHING DIFFERENTLY

3. CONSUMER TO CONSUMER

4. BUILDING THEIR OWN SOLUTIONS

5. EVALUATING ACROSS CATEGORY

6. THE REDEFINED NEGOTIATION

7. CONSUMERS ARE LESS LOYAL

THE EMERGENCE OF THE ENTREPRENIUAL CONSUMER

1. CONSUMERS ARE NOW IN CONTROL

2. RESEARCHING DIFFERENTLY

3. CONSUMER TO CONSUMER

4. BUILDING THEIR OWN SOLUTIONS

5. EVALUATING ACROSS CATEGORY

6. THE REDEFINED NEGOTIATION

7. CONSUMERS ARE LESS LOYAL

They are relying on their own network to make decisions.

And they are negotiating to get their version of a better deal.

So they are solving their own problems.

WHICH OF THESE CONSUMER BEHAVIOUR CHANGES ARE AFFECTING YOUR BRAND EXPERIENCE THE MOST?

WHAT DO CONSUMERS WANT FROM THEIR BRAND EXPERIENCES?

AN INTUITIVE BOND

46% of what we do everyday

is the same.A brands goal should be to build that intuitive bond.

(BrandHook Habit Study 2013)There are two key ways to build an Intuitive Bond with your customers.

Provide meaning through your brand purpose – it adds depth to the relationship - and deliver an effortless experience so there are no moments of friction to disrupt their bond to you.

REAL TIME INTERACTIONS

40% of people abandon a

website that takes more than

3 seconds to load

(kissmetrics.com 2016)

A new type of convenience is expected from today’s consumer and when our ’Uber’ can turn up in 4 minutes why can’t everything else.

The success of crowdsourcing delivery methods, new distribution channels and utilising excess capacity are businesses that have capitalised on this trend.

PERSONALISATION AND USE MY DATA PROPERLY According to

Econsultancy, only

19% use personalisation in their marketing despite

the fact that 74% of marketers know it improves customer

engagement. With the gathering and manipulation of big data by business, customers are demanding proper personalisation.

Wasting their time with irrelevant offers, products and not tailoring the brand experience to the needs will alienate them.

25% of everyday customers will deflect after just

one bad brand experience.

McKinsey’s Customer Experience Study 2016

WHICH BRANDS ARE DOING IT WELL

SEE, SNAP & BUY

VERY PERSONALISED

Over 3 million iterations of the

website homepage are possible.

TAILORED BEAUTY PACKS BY COUNTRY

IKEA’S SLADDA

AI MIXING UP LEMONADE

THE PEOPLE DRIVING THE SUCCESS OF LA CROIX

HOW TO ADAPT TO THIS CHANGING CONSUMER BEHAVIOUR

1 2 3

Define what role your brand

plays in your consumers lives

Get intimate with your consumers and

understand the granularity of their

lives

Map your customer experience and

innovate to solve pain points

QUESTIONS

Melbournewww.brandhook.com