Whoa! That’s some blog title: Too Many Brands Disappointing Consumers. And it’s based on recent research. So, how did we get to this point? Also, what’s next?
Before reading below, take a look at these posts:
- 2018 Global Most Valuable Brands
- Young Adult Views Toward Brands
- Customers Like Caring Brands
- Does YOUR Brand Creep Out Customers
- Great Brand Campaigns Pay Dividends
- Top Authentic Global Brands — Credibility Pays
What Does this Mean? Too Many Brands Disappointing Consumers
Why are too many brands disappointing customers? For a status report, we turn to Jen King, reporting for eMarketer:
“Do brands live up to their promises to consumers? Much of the time, the answer is no”. And a recent study suggests that the ramifications of that can be very bad news for brands that fall short of expectations. In a May 2018 survey from brand experience agency Jack Morton, 2,000 US internet users were asked about their experiences with 100 brands. As well as if their interactions align with the images depicted by the brands’ marketing. This included having helpful store associates or efficient digital sales channels.”
“The survey found that more than two-fifths of respondents (45%) said brands today rarely live up to the promises they’ve made. Essentially giving them a D grade for poor performance. This dissatisfaction was slightly higher among millennials (49%) compared with Gen Xers (44%) and boomers (42%). What does this mean for the brands? Possibly less revenue going forward. Fully, 48% of respondents said when a brand doesn’t keep its promise, they no longer trust it and will stop buying its products.”
Now, consider another study from only seven months earlier.