Consumers Share Their Favorite Brands
Crowd Scene’s JustAsk survey was recently published and the findings indicate that Generation X and high income shoppers choose to share their favorite brands with friends and family members. These numbers remain the same whether the company in question offers rewards for word of mouth advertising or not. Consumers between 30 and 49 are the most likely to share their opinions of large brands, with 50% of shoppers surveyed indicating they would voluntarily talk about a brand. Only 42% of those under 30 said the same.
Consumers living in households with annual incomes over $50K annually are also more likely to emphasize brands when discussing purchases with others. 47% of participants that fell into the higher income category evangelized their favorite stores or companies, while only 42% of those under the $50K mark do. Also, those with annual incomes over $100K are the most likely to be asked for their opinion of specific brands by a friend who is shopping for something specific.
Social media is helping some brands grow, but only 8% of all survey respondents say that they follow a favorite brand through Facebook or a similar page. Even the most internet savvy age group, those under 30, only reported a 10% rate of social media brand involvement. Companies that are pouring millions into social media development may want to reconsider how they are spending that money.
Generation X, falling between 30 and 49, remains the most loyal to their favorite brands. This group reported the highest agreement when asked if they would pay more for a trusted brand name. 42% said that they stick to brands when they find one they like, and are the least likely to experiment with different brands. When it comes to identifying through brands, males are 2% more likely to do so then females.