Consumer sentiment changes every hour of every day. Knowing what customers are thinking is the key to making good decisions for your brand. Here are the top stories affecting consumers this week. Keeping your finger on the pulse, made easy.
How well do the online and offline experiences of your brand sync?
H&M are welcoming fintech startup, Klarna into their shops on the high street as well as those on people’s mobiles and computers. Europe’s second largest clothes retailer paid $20m for a stake in Klarna of less than 1%, but that will allow them to incorporate the emerging payment company into their business model. H&M has struggled due to lack of investment in online, and now they’re looking to Klarna to streamline their returns and delivery process, as well as align their on and offline offerings. Customers will now be able to pay using H&M’s app both in-store and online, which will hopefully unify the shopping experience and increase loyalty.
Why not ask your consumers today how synced up they find your offline and online experience?
How well do you understand your customers’ Jobs To Be Done?
Understanding the driving reason a customer buys your brand—the job they hope it will do for them—is key to good business. Not understanding customers’ JTBD leads to a confusing offering. Just a year ago Revolution (a bar chain) refrained from merging with Deltic (a club chain) saying, “Deltic’s investment proposition, which focuses on late night entertainment with significant reliance on high volumes, is inconsistent with the strategy of premium cocktails and food offering and extending trading throughout the day that Revolution has pursued.” Yet now, they are considering the idea. It’s an example of not grasping exactly the reason customers seek out your brand. Conflate your offering too much, and people will find somewhere that does a specific job better.
If you’re not 100% confident in the JTBD for your target consumers, why not find out now? (We even have a template ready to go!)
How do we take undervalued and overlooked ingredients and find ways to add value?
This is the question Selassie Atadika has been asking of Ghanaian exports. Having been a UN aid worker for a decade and hearing colleagues complain about “African food,” she attended culinary school in America before moving back to Ghana to set about changing these opinions. When she assessed Ghanaian exports, cocoa was the “glaring” example of an undervalued resource. Though the country produces a quarter of the world’s cocoa beans, it is predominantly exported for processing. Atadika has therefore founded Midunu—a pop up restaurant prominently featuring chocolate truffles—to add value at the source. Ghanaian artisanal chocolate makers are growing in number, enhancing the cocoa bean instead of exporting it, to claim its maximum value before it leaves the country.
Could (should) you move up or down the value chain? Why not ask consumers and find out where else you can fit into their lives?
Can you cause a stir with the unexpected?
The art world was taken aback once again by the audacity of its reluctant darling, Banksy. One of his most valuable paintings—Girl With Balloon—was up for auction at Sotheby’s. After it sold for over £1m, the painting shredded itself. Banksy later revealed via Instagram video that blades had been built into the frame years before “in case it was ever put up for auction.” Sotheby’s senior director, Alex Branczik said of the incident, “It appears we just got Banksy-ed.” Though the canvas was left in ribbons, the stunt is estimated to have elevated its value by a further 50% since it’s now a part of art history. Whether questioning the value of art, criticising the opaque nature of auction houses, or just poking fun at the establishment, Banksy has once again caught everyone’s attention by ripping up the rulebook.
What else has caught your consumers’ attention recently? What did they like about it? Launch the survey today to spark inspiration in your next bold campaign!
If you want to launch a survey about any of these, or other current issues, just log in to your Attest dashboard and launch a survey to find out what real people are thinking right now.