Exponential Purchase Power
Maximising the Impact of your Influentials
NOP World Consumer, United Kingdom.
THE RISE OF WORD OF MOUTH
There has been a shift over the last century in our decision-making processes. Once upon a time we looked to brand names to tell us what to buy. Brand names inspired trust and made us think of high quality. This is still true to some extent. The influence of the brand name, though, has been eroded by two main factors: too many brands occupying the same territory with little differentiation and brands not living up to their customer promise. The effect of a failed brand promise often spreads beyond the brand in question to other brands both in and out of category.
Initially advertising helped inspire trust in brands – demonstrating not only how we could enjoy the product itself, but also how using that product would positively impact on our lives overall. The extra information advertising provided us with made us more familiar with brands and hence more comfortable with them. Yet the degree of impact advertising has also declined as a result of the overwhelming number of advertising messages we receive. People nowadays are exposed to ca. 3,000 marketing messages each day. The sheer volume means that we end up sifting out the majority of them as we simply cannot process that much information.