Vivaldi Partners Group Releases "Brands & Social Networks: New Findings on how consumers connect with brands"
Global brand, innovation consultancy updates its Social Currency report with flash survey on why social media users follow brands.
NEW YORK, NY (PRWEB) February 26, 2013
Today, Vivaldi Partners Group released “Brands & Social Networks: New Findings on how consumers connect with brands.” The report from Vivaldi Partners Group and research partner Ipsos looks at why consumers follow brands on social networks, why they stop connecting with brands, and what brands can do better.
The report found that consumers often connect with brands on social networks for personal, not social, motivations. Contrary to the prevailing thinking, far fewer consumers state that the reason for connecting with brands is to engage or to connect with others who like the brand. Only 33% of those who have connected with a brand on a social network do so because they want to connect and engage with other customers of a brand. Also, only 44% want to recommend or connect their friends with their favorite brand. In fact, the primary reason for connecting with brands was to look for special deals and events (73%).
The study also found that:
- 73% of consumers use social networks, and among them, seven in ten connect with brands.
- Only 43% are motivated to share ideas for new products or services.
- 49% of consumers split up—by unsubscribing or “un-liking”—from a brand or company on a social network.
- The most popular reason for “un-following” a brand was because “There was no real value” (22%).
In order to explore further what brands can do better with consumers on social networks, Vivaldi Partners Group assessed the performance of brands across six dimensions of Social Currency: Advocacy, Conversation, Affiliation, Utility, Information, Identity. Social currency is the degree to which consumers share a brand or information about a brand with others.
The results show that there is enormous room for improvement. Currently, only 38% of consumers believe that brands provide them with the tools or means to promote or defend a brand on social networks (Advocacy). Even less - 35% - believe that brands provide sufficient motivation or incentives to talk about a brand to others (Conversation).
“We're really excited to present our latest thinking on brands and social networks. Today, brands need to work even harder to earn its value in customers' daily lives. The research shows the reasons why consumers connect with brands on social networks and also why they disconnect,” explained Erich Joachimsthaler, CEO and Founder of Vivaldi Partners Group. “But connecting or liking a brand is only the first step. Brands must also enable consumers and empower them to connect with other people, to advocate for the brand, and more.”
“Brands & Social Networks: New Findings on how consumers connect with brands” is a flash update to the Social Currency 2012 Report that Vivaldi Partners Group released last year. The full report can be found on the Vivaldi Partners Group website: http://www.vivaldipartners.com
About the Survey:
These are some of the findings of an Ipsos poll conducted April 26-30, 2012. For the survey, a national sample of 1,004 adults aged 18 and older from Ipsos' U.S. online panel were interviewed online, including 726 adults who use at least one social network. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the U.S. adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of 1,004 and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points 19 times out of 20 of what the results would have been had the entire adult population of adults aged 18 and older in the United States had been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
About Vivaldi Partners Group
Vivaldi Partners Group (http://www.vivaldipartners.com) is a global firm that unlocks innovation and growth opportunities for brands and businesses in a digitally connected world. Vivaldi Partners Group uses its expertise in strategy, innovation, marketing, and organization to identify new demand-based opportunities, build strong brands, create and realize engaging experiences, and lead change through the development of people. Vivaldi Partners Group comprises of Vivaldi Partners, Fifth Season, a digital, design and technology agency, and E-Edge.
Ipsos is a leading global survey-based market research company, owned and managed by research professionals that helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world. Member companies assess market potential and interpret market trends to develop and test emergent or existing products or services, and build brands. They also test advertising and study audience responses to various media, and measure public opinion around the globe. Visit http://www.ipsos.com to learn more about Ipsos offerings and capabilities.
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