Did you know that 28.4 million people reached for energy drinks in the last month alone? They’re not all teens and gamers as you would imagine.
View the infographic below for details about who energy drinkers are and what makes them tick. Want to see more of Resonate’s insights on today’s consumers? Let us give you a quick demo.
New Report Improves Marketers’ Ability to Uncover the Human Element Behind Consumer Decision-Making
RESTON, Va., Nov. 07, 2018 (GLOBE NEWSWIRE) —
Resonate, the leading provider of consumer intelligence for marketers, today announced the launch of its Personal Values Report, a new tool in the Resonate platform designed to make it even easier for brands to build strategies around the motivations that drive consumer behavior to choose, buy, endorse or abandon. The tool identifies a brand’s customers’ top values that influence action and underpin emotions. Additionally, the Personal Values Report provides concrete tips for better engaging around those core drivers.
“Resonate has always been a curator of what we call ‘The Human Element’—a deeper understanding of the values and motivations that drive individuals to buy or support certain brands, products and causes,” said Dave Jeyes, Senior Product Manager at Resonate. “The new Personal Values Report extends our expertise to brands in a way that enables them to more easily apply the insights across their entire marketing operation—from brand strategy to acquisition to retention, loyalty and beyond.”
The Personal Values Report is built around the Theory of Basic Human Values, developed by Shalom H. Schwartz. These 19 Schwartz values represent the latest understanding of core human values and have been found to be not only cross-culturally stable but also highly predictive of purchasing behavior.
The values and motivations driving purchase behaviors among consumers can differ greatly, even among shoppers in the same category. For example, an analysis of Columbia Sportswear customers vs. Patagonia customers via Resonate’s Personal Values Report reveals the top three personal values influencing purchases among each brand’s audience. While both audiences share the value of stimulation and a desire for a life full of excitement and challenges, there is a significant difference in other values. The analysis of Patagonia customers reveals the values of nature and independence. Conversely, Columbia buyers value being in charge and directing people (authority) and the freedom to think up new ideas (creativity). Such knowledge would suggest that Columbia Sportswear should consider employing confident and commanding themes in its content, creative and messaging, while Patagonia would benefit from products, offers and imagery that reflect the independent exploration of nature. (Note: Columbia Sportswear and Patagonia are not Resonate clients.)
The Personal Values Report draws insights from Resonate’s dynamic, continuously updated consumer intelligence platform, which covers more than 10,000 attributes across 185 million people in the U.S. The reports, generated based on surveys and insights around individuals who self-identify as purchasers of a given brand, can be segmented according to a wide array of demographic filters. Brand marketers can also leverage their own first-party and external third-party data sets within the tool to gain a deeper, more-granular understanding of their audiences.
About Resonate
Resonate is a pioneer in Consumer Intelligence Marketing, delivering deep understanding, dynamic insights, cross-channel engagement and analysis in a single, simple-to-use SaaS platform. The Resonate Consumer Graph encompasses 10,000 attributes, including values, motivations and other psychographics, describing more than 185 million U.S. consumers. Hundreds of companies have used Resonate to reveal and engage “The Human Element,” a deeper understanding of their target audience that extends beyond traditional demographics, psychographics and behavioral data to uncover why consumers choose, buy or support certain brands, products or causes. Empowered by this unparalleled understanding, leading brands, agencies and organizations identify, engage and continuously analyze these audiences, driving growth and increasing customer lifetime value.
Headquartered in Reston, Virginia, Resonate is privately held and backed by Argentum Capital Partners, Revolution Growth, Greycroft Partners and iNovia Capital. For more information, please visit www.resonate.com.
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Did you know that nearly 80% of U.S. consumers choose retailers that carry cost-effective products? It’s not surprising that with so many consumers prioritizing cost this holiday season there are also 57 million consumers who wait for Black Friday and 50 million shoppers who wait for Cyber Monday to make purchases. Who are these shoppers and how can you attract them to your online and brick and mortar store this holiday season?
View the infographic below to learn more about these consumers and marketing tips to increase engagement and boost sales this holiday season!
Did you know that 39.6 million people are planning to switch wireless providers within the next year? Most of them are yearning for faster network speeds and unlimited data. So what else do we know about wireless switchers?
View the infographic below for details about these consumers. Want to see more of Resonate’s insights on today’s consumers? Let us give you a quick demo.
This Steve Jobs quote points to a problem wireless providers face monthly—customer churn. Within the next 2-12 months, 39.6 million wireless subscribers will change providers. What’s shocking is that the churn rates of wireless providers are at historic lows.
Wireless companies can ask their customers what they want, but they also need to understand what makes their customers, as well as their competitors’ customers, tick. Not only is it vital to understand what is making them switch wireless providers and what they’re looking for in their next wireless provider, but also what guides their daily purchasing decisions—the “why” that drives the “what.”
This actionable insight guides a range of strategies for marketing, research and loyalty teams within wireless providers, from how to communicate with wireless switchers to the most effective channels to reach them.
There are multiple ways of understanding the “why” behind the daily decisions of wireless consumers, including why they’re switching providers. At Resonate, we look at the Human Element, which is a holistic understanding of a person that starts with what makes us the most human—our values and motivations.
The top personal values that guide the daily purchasing decisions of people switching wireless providers is an essential guide for understanding these consumers. For example, the top personal value of wireless switchers is “being in charge and directing people.” So marketers should consider using themes of being assertive, commanding and confident. Switchers also value having the “opportunity to show one’s abilities and to be admired for what one does.” Marketing messages should focus on themes of being admired, appreciated, successful and acknowledged. Another top personal value is “acquiring wealth and influence.” Marketers should consider using themes of prestige, importance, prosperity and power in their creative and messaging.
Their top psychological drivers also help paint a complete picture. For people switching providers, their top drivers are expressing individuality, romantic love and living an exciting life. Another interesting insight is their daily routine. Wireless switchers are regular coffee drinkers, they prefer making their own meals and they value work beyond income.
Now that we have a human snapshot of people switching wireless providers, we can dig into why they’re switching and what they’re looking for in their next provider.
Insights within Resonate’s consumer intelligence platform show that the top features that drive a subscriber to switch include:
We still want to drill deeper into these switchers and learn about their media consumption.
This snapshot shows:
Resonate also has valuable insights on each wireless provider and the who, what, when, where and why of all of their switchers.
The challenge for wireless marketers is turning massive amounts of data into insights that allow them to decide on the right strategy for reducing churn. With person-centric insights, marketers can see the actions needed to reduce churn in one, easy-to-use platform that’s updated nightly. So, while you can’t just ask, you can find out and act before they want something new.
Ready to get started? We’d be happy to show you more.
Learn more about Resonate’s deep consumer insights in the State of the Consumer Report Q4 2018.
The Personal Values report explains the why behind people’s everyday decisions by uncovering what makes us the most human. Watch our video to learn how to use these insights to inform everything including your go-to-market strategy, your customer segmentation strategy, your content strategy, and more.
The way people shop is changing and nowhere is it more evident than in the mattress business. Mattress Firm recently declared bankruptcy to get out of leases that were no longer tenable and will close as many as 700 stores before year-end. At the same time, Casper, a direct-to-consumer mattress company founded in 2014, posted over $300 million in revenue in 2017 and has plans to open hundreds of brick and mortar stores.
Over 100 mattress startups have launched and grown quickly in the past several years, replicating first movers like Tuft & Needle and Casper’s bed-in-a-box concept. They understood something was broken in the mattress business and were able to solve several customer pain points. But the industry has become incredibly crowded, and it’s time for mattress brands and retailers to figure out the next wave of mattress buying and product innovation. Nearly 21 million people plan to buy a mattress in the next six months, so the market opportunity is gigantic.
Upstarts like Casper, Leesa and Purple entered a market where consumers were tired of the mattress-buying process. Advertised sale prices are often a lure to get a shopper in the store and then they face a hard sell by salespeople incentivized to unload the most expensive products. Deliveries are slow and costly and return policies are rigid or non-existent. Some consumers were stuck for 8-10 years with a mattress they don’t love.
The upstarts introduced a bed-in-a-box business model in the last five years where they developed their own mattresses and pillows. Purchases are made online, shoppers rely on genuine customer reviews, pricing is transparent and lower, shipping is free and returns are hassle-free.
Consumers were thrilled as the headaches of buying a mattress were erased. It showed in the financials as well. Many of these new players are posting tremendous growth numbers, and traditional players like Mattress Firm are scrambling. These bed-in-a-box retailers understand a fundamental need of consumers and have been quick to capitalize on that need.
Given the low barriers to entry, many new players have entered the market. Just a few years ago, there were only a handful of bed-in-a-box companies. Today that number is over 100. Each new bed-in-a-box option seems to come equipped with thousands of five-star reviews, free shipping, the best foam and a free trial. Behind the scenes, all these operations come fully equipped with an easy-to-use website and accounts for Facebook Business and Google Ads.
Unfortunately, launching your site and paying bloggers affiliate fees isn’t enough anymore. The industry has become crowded, and the large number of entrants are bidding the relevant search terms higher and higher. The initial customer pain points have been solved and are no longer differentiators. Even Mattress Firm has adopted some of the tactics of the newer players.
Casper is now branching out from its ecommerce roots by opening 200 stores to reach the 86% of consumers who aren’t comfortable buying a mattress online.
So what should traditional retailers and bed-in-a-box brands rely on to engage and convert 21 million people who are being hit from every angle?
The key to winning customers in this type of business , where purchases are made as seldom as once a decade is having a fundamental understanding of who these consumers are, what they want, when they want it and WHY. What types of insights drive engagement? There are many questions to answer:
1. Why are they buying a mattress?
2. What’s their plan?
3. How should you engage with them?
Combining these insights will create a holistic view of your customers and prospects and lead to a better understanding of the best strategy, messaging, creative and channels to engage and convert more of these customers than your competitors.
The final piece of the puzzle is making sure all the information is fresh. There is nothing worse than wasting money trying to engage someone who already purchased their mattress and has no intention of returning it. Mattress shoppers are in market for a short period of time, and their preferences change often. Marketers need to understand these dynamics and be able to monitor changes quickly, so a strategy can be optimized as consumers change their preferences.
If you’re an online or brick and mortar mattress or furniture retailer, the only way to keep your brand from losing to the newest disruptor is by having a deep consumer understanding of who is in market, why they’re in market, where they shop, why they shop there and how you should engage with them. This deep consumer understanding also helps establish a long-term emotional bond for customer retention and loyalty.
Want to see Resonate’s consumer insights in action? We’d be happy to show you more.
Learn more about creating loyalty in Resonate’s Marketers’ Guide: How Deep Consumer Insights Improve Loyalty Program Performance.
Imagine this: Your target consumer is browsing your website in an airport lounge. She finds products she likes and ADDS them to her shopping cart. Then, her flight is called and, now in a rush, she leaves the site and forgets to complete her shopping. Abandoned once again!
Does this sound familiar?
Online retail marketers are consistently challenged with online shopping cart abandoners. Nearly 80% of online shoppers abandon their virtual carts, according to Statista.
Resonateʻs consumer intelligence platform solves this problem for marketers through dynamic person-level insights that provide a deep understanding of consumers to turn shopping cart abandoners to returning customers.
There are two easy steps in the Resonate Platform for converting shopping cart abandoners. Let’s walk through them by looking at a hypothetical online Retailer A, which has a persona group named “Jenna.” Using the Resonate Platform, Retailer A can determine the percentage of “Jennas” who are shopping cart abandoners and uncover insights that will enable them to connect with non-converting Jennas.
With the Resonate Platform, marketers can tag their digital properties, including landing pages and conversion pages to run analyses. In this case, Retailer A focuses on the relationship between its tagged home page and purchase page to run an analysis.
After running the analysis, Retailer A switches to the Measurement tab at the top of the screen and selects RealSegments from the drop-down menu.
Then they are prompted to add their segments to their analysis and check the boxes next to the segments they want to include—in this case Jenna. They then click on the Add Selected button to add the segment to their analysis.
The percentage of shopping cart abandoners can be determined by subtracting the composition of those who landed on the home page from the composition of those who visited the purchase page. For Retailer A, 15% of their target persona “Jenna” does not convert on their purchase page.
With this insight, they can dive into the profiles of these consumers to understand why they don’t convert.
The next step is to navigate to the Audience Builder to create an audience of Retailer A’s Jenna segment.
Under the My Tags tab, they find their Home Page and Purchase Page tags and add both to the audience definition.
The default audience definition will incorrectly be “people who visited the home page AND the purchase page.” They actually need to update the audience logic to create the audience of non-converting Jennas. So, they click on the OR next to the Purchase Page tag and select Exclude OR so the definition reads as “people who visited the home page but did not visit the purchase page.”
They click Add to Analysis, then click Run Analysis. This brings up Resonate’s curated reports, which help better understand the Human Element of these consumers and why they didn’t convert. For instance, in the Personal Values Report, they learn that this audience values pleasure over safety and tradition. New creative focused on themes of enjoying life’s pleasures will be more successful in converting them.
View a short video to see what Retailer A uncovers about their non-converting Jenna persona.
Want some help figuring out your shopping cart abandoners? Contact us today.
Undecided voters can decide elections. If your campaign’s in a close race down the stretch, you understand the importance of putting dollars behind identifying and targeting known swing voters well before they head into the voting booth. With just three weeks remaining until Election Day, engaging this critical segment with a message worthy of their vote needs to be a part of any savvy campaign strategy.
At Resonate, we put our dynamic artificial-intelligence driven models to work to find and target swing voters – from the national to local level – with surgical precision. With just a few clicks in our voter insights platform, we’re ready to analyze swing voters across thousands of the most relevant political persuasion insights and target them wherever they are online. This is how winning is done.
Let’s take a quick look at what’s driving the 2018 midterm swing voter on the national scale and in a couple of key 2018 election battlegrounds.
Audience size: 16M
Compared to the average registered U.S. voter, national swing voters are:
Bonus insight: at least 50% of this audience will vote in the midterms primarily because they feel it is their civic duty. 12% will vote because of state-level concerns.
Audience size: 743K
Compared to the average registered Pennsylvania voter, Pennsylvania swing voters are:
Bonus insight: 50% of this audience voted for Donald Trump in 2016.
Audience size: 387K
Compared to the average Wisconsin voter, Wisconsin swing voters are:
Bonus insight: 25% of this audience voted for a candidate besides Donald Trump or Hillary Clinton in 2016.
If your campaign needs to engage and win swing voters in the final 3 weeks, contact Resonate’s Campaign Hotline today to get started immediately. Don’t leave the swing vote to chance, start engaging and winning now!
Did you know that 20.5 million people are buying apparel from Amazon’s Essentials, the online giant’s clothing brand. It’s not surprising given that 44% of them say they choose where to shop based on convenience. So what else do we know about Amazon’s apparel shoppers?
View the infographic below to learn more about these consumers. Want to learn more about Resonate’s insights on today’s consumers? Let us give you a quick demo.
