Why Nike’s Colin Kaepernick Gamble Wouldn’t Work for Under Armour

This article was originally published on Marketing Land on 11.05.18. See the full article here.

Two weeks after Nike’s campaign featuring Colin Kaepernick debuted, the company’s online sales had risen a whopping 31 percent and its stock had climbed more than 6 percent to an all-time high. With Kaepernick, Nike clearly tapped into something powerful—but it didn’t come without risk.

Immediately after the ad debuted, it was widely reported that Nike’s brand favorability was down, its stock price dipped, videos of people burning their Nike shoes went viral and critics called for a wholesale boycott of the brand. So how did a gamble that violates the norms of branding and brand safety while creating a chorus of ardent critics ultimately lead to a wildly successful campaign?

In short, Nike found a way to connect with its customers on a visceral level. Its Kaepernick campaign went beyond shoes or clothing and instead tapped into the personal values that drive its customers in every aspect of their lives. That’s also why this gamble would have utterly failed for a brand like Under Armour, according to a recent Resonate analysis of customer personal values. Read our full analysis here on Marketing Land.

A Guide To Understanding And Engaging Today’s Auto Shopper

People shopping for cars usually take several months to make their decision, which presents a unique challenge and opportunity for marketers. Given the expense and overall weight associated with a new car purchase or lease, the automotive shopper’s decision-making process represents a fine blend of rationality and subconscious motivation. Thus, it is vital for marketers to not only know where to find people currently shopping for a car, physically and digitally, but also for them to be able to speak wisely to the underlying values that fuel these important purchases.

To better illuminate relevant audience insights for automotive marketers, Resonate tapped into its consumer intelligence platform to uncover the motivations, values, lifestyles and media habits of people who are likely to buy or lease a car in the next 12 months. The resulting audience profile revealed a dynamic group of people whose desire for self-fulfillment and lust for life are leading them to seek automotive purchases that align with these deep-seated values.

To call people who are in the market for a car “active” would be an understatement. Their desire to be on-the-go is reflected in both their top hobbies (visiting spas and resorts, going to the movies and watching pro sports live) and daily routines, which place a high value on athletic accomplishments and gym memberships. These hobbies and routines, all deeply rooted in the physical world, suggest that marketers should be building bridges between their real-world activities and their digital interactions.

Note: Index Value measures the strength of a consumer insight against the entire consumer landscape, with the baseline being 100.
Note: Index Value measures the strength of a consumer insight against the entire consumer landscape, with the baseline being 100.

When it comes to the top apps used by auto shoppers, it’s not surprising that their usage mirrors their hobbies and daily routines. Business tools and productivity apps are tied with travel apps when it comes to commanding the most attention from these individuals. Other top app categories include entertainment and lifestyle apps, as well as sports, finance, and food and drink apps.

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While the average auto shopper strongly values physical activity and social engagement, they’re also deeply embedded in the digital space, where they leverage content and platforms to facilitate their energetic and self-driven lifestyles. More than 60% in the market for a car are spending more than 20 hours online each week, with nearly a quarter of them spending more than 40 hours online.

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Auto marketers might be surprised to find that the in-market auto shopper’s most-frequented social networks are not Facebook or Twitter, but rather Reddit, Snapchat, Instagram and LinkedIn. This proclivity makes sense, however, in the context of this group’s top personal values and psychological drivers. Self-fulfillment, taking care of one’s family and learning and knowledge are the core personal values that motivate this audience, and the aforementioned networks are core to feeding these principles, not to mention their desires for social and professional achievement and overall excitement in life.

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From a media perspective, auto shoppers represent an eclectic bunch, with their top-watched TV networks and most-read magazines ranging from the informative to the entertaining. In terms of TV shows, this audience favors distraction and humor—as well as viewing through their personal devices such as tablets and phones.

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The time it takes people to make a decision on which car to buy requires marketers to take a meaningful, story-driven approach to connect with these valued consumers over time. By better understanding their online and offline habits, as well as the underlying values and motivations that drive them, marketers can begin to craft a consumer journey that aligns with this ever-important path to purchase.

Note: The insights in this article are included in Resonate’s latest research, “The State of the Consumer Report Q4 2018: Consumer Snapshots That Reveal How Values & Motivations are Shaping Today’s Evolving Shopper.”

This article was originally published on Salestechstar.com

A New Way to Capture 24M Million Investment Firm Switchers in 2019

Turbulent markets, global political shifts, the growth of robo-investing and rising customer expectations have brought a new level of customer churn to wealth management marketers. Resonate’s most updated insights reveal that 24 million U.S. adults are actively considering switching investment firms in the next 12 months.

It’s vital that marketers for investment firms know how many of their own customers and their competitors’ customers plan to make a move and what they’re looking for in their next investment firm. Resonate’s deep consumer insights also reveal:

  • Which firms are at the greatest risk of losing customers
  • Top selection criteria for people looking to switch
  • Consumers’ views about the market and alternative investments
  • How to steal your competitors’ customers and retain your own

Which Firms Are at Greatest Risk for Losing Customers?

Most investment firms face a retention problem, including some of the biggest brands. Consumers who plan to switch investment firms have accounts with the following firms:

 

What Do People Want from their Investment Firm?

When it comes to their relationship with their financial advisor, most switchers want great customer service and objective advisors who understand their risk tolerance. But the top selection driver is that switchers want the ability to trade on margins. Firms using Resonate can dig deeper to understand the specific factors most important to their own switchers and segment their competitors’ switchers by brand to tailor messages accordingly.

 

How Do Consumers Feel About the Market?

Most switchers are on the fence about whether a stock market drop or financial crisis is imminent, but most switchers have a more optimistic view of the future. Marketers should connect with switchers using sunnier messages vs. an approach that speaks to investor fears.

 

 

How Do Consumers Feel About Robo-Investing and Cryptocurrency?

Cryptocurrency investing won’t appeal to most switchers, but robo-investing will. Resonate helps you isolate and target the smaller group considering cryptocurrency in their portfolio, while also creating a robo-investing segment for research, segmentation, activation and measurement.

 

 

Where Can I Find Consumers Looking to Switch?

Insights on their media consumption also shape your strategy for reaching these consumers, from the top TV shows they’re watching to their top social media networks.

 

 

Resonate also has actionable insights on individual investment firms and the who, what, when, where and why of their switchers.

The challenge for wealth management 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 take action 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 you lose customers.

Want to see Resonate’s consumer insights in action? We’d be happy to show you more in a demo.

 

The Real Truth About Energy Drinkers

Who do you picture when you think about someone who consumes energy drinks? Stressed-out college students? Gamers who want to stay up all night? It’s neither one.

Resonate’s insights on the 28.4 million people who drank at least one energy drink in the last month paint a picture of a young to middle-aged dad, who likely has some kids under age 5. (Young kids are so adorably exhausting, aren’t they?)

As marketers, we often fall into misconceptions about our target audiences. We could be working with outdated, inaccurate personas. Or we could have just plain ol’ bad data. That’s why it’s vital for today’s marketers to have insights that are updated daily and paint a complete picture of consumers beyond flat demographics.

By digging into the Resonate Platform even further, we’re able to answer the question of why they reach for that can of liquid energy. We found that among the top reasons, besides energy, were these drinks taste good, it makes them feel good and it’s a special treat in their day. But can’t they satisfy those needs with other beverages? That’s why we need to answer the other why’s of their energy drink consumption.

We get at the deeper picture by looking at the personal values that guide their daily decisions, which then guides how you as marketers connect with these consumers. Energy drinkers are mostly guided by having the opportunity to show their abilities and to be admired for what they do. So as the marketer trying to connect with this audience, you should consider using themes of being admired, appreciated, successful and acknowledged in your creative and messaging.

The second personal value tied to energy drinkers is that they want the freedom to think up new ideas, they want to be creative and they want to develop new skills. So your creative and messaging should focus on themes of innovation, originality and cleverness.

Their third most important personal value is equality. These consumers want every person in the world treated equally. To them, life is about social justice. So your messaging and creative should align with themes of equality, fairness and tolerance. You could also highlight philanthropy and social activism.

The Resonate Platform continues to paint the picture of the energy consumer when we look at their psychological drivers, hobbies and routines. Energy drinkers are heavily driven by having social and professional status, getting recognition from their peers and the need for an exciting life. Their free time is spent playing fantasy sports, participating in outdoor activities, playing team sports and at the gym.

While the hobbies and routines of energy drink consumers might not be terribly surprising, what we also discovered was the high prevalence of parenthood and the high valuation of reliability and trustworthiness among this group. We can even tell you how they’re consuming energy drinks. Most people drink them alone. So your creative may feature a single person enjoying their drink rather than a group of people.

Energy drink consumers are a perfect target audience for any brand that wants to connect with young, active parents. However, you might not want to rely on traditional advertising channels to reach these folks. Although age-based offline buys might seem like a good idea at a high level, you would have to buy a lot of spots in a lot of different places to reach this audience at scale. Instead, online buys make more sense for reaching this group with relevancy and frequency. But it wouldn’t hurt to sprinkle in some TV on the four major networks (ABC, NBC, CBS and Fox), along with coverage during NFL football games.

Ready to start connecting with energy drink consumers? Reach out for a demo to learn more about this audience or any other consumer segment.

[Infographic] Get to Know 28.4M Energy Drinkers

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.

 

Infographic: Consumer Insights for 2018 Holiday Shoppers

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!

[Infographic] Get To Know 40M People Switching Wireless Providers

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.

 

Get to Know the 40M People Switching Wireless Providers

“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.”

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.

GET DEEP WITH THE SWITCHERS

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.

UNDERSTAND WHY THEY’RE SWITCHING

 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:

  • Network speed
  • Unlimited data
  • The need for a family plan
  • International plans

We still want to drill deeper into these switchers and learn about their media consumption.

Wireless Media Consumption

This snapshot shows:

  • The TV shows they watch the most and on what devices
  • The newspapers and magazines they read
  • Social sites they frequent
  • What types of apps they value

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.

21M People Are Mattress Shopping. Want To Connect With Them?

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.

THE DISRUPTORS

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.

NEXT STEPS

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?

  • Discomfort sleeping?
  • Are they moving?
  • Buying a house/condo?

2. What’s their plan?

  • Where and when did they buy their last mattress?
  • Where do they plan to purchase their next mattress?
  • What influences their decisions?

3. How should you engage with them?

  • Do they care that you’re environmentally friendly or that your products are priced fairly?
  • Is it more important that your mattress is innovative or durable?
  • How can you create an emotional connection with your brand?

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.

Convert Your Online Shopping Cart Abandoners To Lifelong Customers

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.

Step 1: Determine the Percentage of Shopping Cart Abandoners

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.

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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.

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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.

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With this insight, they can dive into the profiles of these consumers to understand why they don’t convert.

Step 2: Create an Audience of Shopping Cart Abandoners

The next step is to navigate to the Audience Builder to create an audience of Retailer A’s Jenna segment.

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Under the My Tags tab, they find their Home Page and Purchase Page tags and add both to the audience definition.

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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.”

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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.