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The Consumer’s Path to Purchase by Category

22 Aug

We know that consumers shop differently for various goods and services. But we can always learn more.

Millward Brown Digital recently produced a report entitled “Demystifying the Consumer Journey?” A free download is available with a simple login.

The chart below summarizes the average length of a shopper’s journey (in days) and  the level of involvement accompanying a purchase decision (in other words, how hard the consumer was willing to work to make a purchase decision). Millard Brown concluded that:

“The risk of making the wrong decision is a powerful thing. When a wrong decision could result in significant financial loss or impact personal safety, consumers invest more time and care in the decision-making process. As a result, the average journey length for an auto purchase, for example, is nearly 10 times longer than that of a beauty purchase.”

“A ‘marketer-centric’ approach to budget and resource allocation is often the easiest option. However, by placing the consumer at the center, marketers can tailor budget allocations to the digital touchpoints that drive real consumer action.”

 


 

Women in Business

4 Aug

Here is some value information on this topic:

  • Womenable.com has a large number of infographics. Click here.
  • Gender Equity Index. Click here.
  • State of Women-Owned Businesses. Click here.
  • A One-Women Firm Goes Global. Click here.
  • Women, Especially Women of Color, Fueling Business Startups. Click here.

 

Be on Your BEST Behavior When Interviewing

3 Aug

You probably know that first impressions matter; that’s why you learned to look people in the eye and firmly shake their hands. But the art of successfully interviewing for a job is probably not something that you discussed over the dinner table. Just because you got in the door to interview for a job opportunity and put on a suit doesn’t mean that you’re a shoo-in for a job. There’s an art to a successful interview. Unfortunately, not knowing what to do during this crucial time make the difference in landing the job of your dreams.

Perhaps you know some of what it takes to successfully interview. You’ve likely done a little research on the company—but have you plotted out how you’re going to get to the location? How about questions: Sure, you might meet a human resources contact, but do you have the names of every other person who will be in the room? It never hurts to think through, practice, and make all the right steps in a job interview, and this graphic by Aiken Cloud can help.

 


 

An Oracle Infographic on the Internet of Things

5 Jul

With the rapid advancement of technology around the globe — and our expanded use of connected devices — the Internet of Things (IoT) is here in full force, and major IT companies are acting accordingly in expanding their client offerings.

But for those who are unfamiliar with or unsure about the concept, what exactly is the Internet of Things? According to TechTarget:

“The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.”

 
Here is an interesting infographic on the IoT and its importance from B2B giant Oracle.

 

The Fast-Growing Era of Tailored Ads by Country

30 Jun

Unlike in the past when firms could use universal themes in their ads around the globe, with just minor changes, today, companies need to use a more tailored approach in the face of stiff competition.

As an example, KFC has really stepped up its advertising strategy — and not just in the United States. Here are a selection of tailored ads from around the world. We feature YouTube ads from SEVEN countries here.
 

From the USA YouTube Channel: There is now an “extra crispy” Colonel Sanders played by actor George Hamilton, known for his perpetual tan.


 

From the India YouTube Channel: The new limited edition KFC Watt A Box will not only fill you up but also your smartphone.


 

From the UK and Ireland YouTube Channel: KFC Rollerskater — Bring home the weekend with KFC.


 

From the South Africa YouTube Channel: Through #‎TasteGuarantee, KFC is making sure that customers are happy and satisfied with every meal, and continue to get the great tasting food you know and love!


 

From the Hong Kong YouTube Channel: “Finger Lickin’ Good Edible Nail Polish.” [This ad is in Chinese.]


 

From the Philippines YouTube Channel: For those preferring hot tasting chicken, KFC Hot Shots is getting customers all fired up! 


 

From the Thailand YouTube Channel: The legend is back by popular demand — KFC crispy chicken Chilliwack, cheese, onions, peppers , dark burn. [This ad is in Thai.]

 

When Are Small Data Best Used?

29 Jun

Over the past few years, many companies and analytics experts have become greatly enamored with “big data,” now that such data are  easier to collect and analyze. [For example, see 1.]

Nonetheless, there still remain many instances when “small data” can be quite useful.

Consider these observations from Jessica Stillman, writing for Inc.:

“Ask Google how many people are searching for the term ‘big data’ and you’ll get a graph that resembles a steep mountainside. The concept has become incredibly hot over the last few years and it shows no signs of cooling anytime soon. And why not? Every day, our devices spew out an incredible amount of data on our behavior, preferences, and relationships. What could be wrong with our newfound obsession with combing through numbers for profit-boosting insights and previously unnoticed correlations?”

“The trouble according to Martin Lindstrom, author of Small Data: The Tiny Clues That Uncover Huge Trends, is when we overuse data to the point that we forget to actually talk to people. In an interview with Knowledge@Wharton, Lindstrom argues that what he terms ‘small data,’ i.e. face-to-face conversations with actual, real-life customers often in their own homes, is a more reliable source of great business ideas than massive databases and sophisticated number crunching. ‘I think it’s fair to say if you take the top 100 biggest innovations of our time, perhaps around 60 percent to 65 percent are really based on Small Data,’ Lindstrom claims, citing breakthroughs ranging from the idea for Snapchat to the resurgence of Lego as examples of the fruits of small data.”

 
Click the clever image to read more from Stillman.

CREDIT: Getty Images

 

Multimedia View of 2016 Most Valuable Global Brands

27 Jun

The 2016 BrandZ most valuable global brands report by WPP’s MillwardBrown is now available.

This year, a lot of FREE information about valuable brands is presented online, in addition to what is shown visually in our post. To access these other materials, click the links provided below the three visuals we highlight.

When you have finished looking over all of these materials, click here for a fun quiz.

 

The infographic reveals a lot of information about the 2016 report in an easy-to-read format. Click the image for a larger version.


 

The full 2016 report (141 pages) may be accessed by clicking on the image.


 

Here is a video on the fastest-rising brands.


 

Other information about global brands:

 

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