New Study Reveals What Consumers Want from Brands (live interactive video helps)
Edelman, the world’s largest public relations firm, published their 2014 “brandshare” study about how to reach and engage with consumers in a more effective way. As part of this recurring study, they surveyed 15,000 people in 12 countries and found that 87% of consumers want meaningful interactions with brands. People want brands to tell a story, have a true purpose and engage with them in real time.
Brands have traditionally strived to meet rational (functional) and emotional needs, such as quickly responding to customer concerns, but according to the study, consumers say that is not enough. Brands need to meet societal needs in addition to rational and emotional needs.
Societal needs are defined as building confidence that the brand truly cares about people and has a core mission that resonates with audiences. When businesses meet rational, emotional and societal needs, customers are 12% more likely to recommend and share brand content, 10% more likely to defend the brand and 8% more likely to make a purchase.
The type of live interactive video broadcasts enabled by the Brandlive platform help brands in all of these areas:
- Rational: Product demonstrations show the benefits of using the products. Rockwell does a great job of that.
- Emotional: On-camera product experts, with their passion and knowledge on display, and authentic human moments enabled by live video, create an emotional connection that is difficult to achieve via other digital channels. See this in action during a New Balance product launch.
- Societal: Live events with non-profit partners are a great way to amplify a brand’s social causes and connections.
In a great example of this last point, Marmot used Brandlive to partner with Paradox Sports, an organization that helps people with disabilities to participate in extreme sports.
During Marmot’s broadcast, the host told his story about rock climbing with his disabled brother and how that led to him co-founding Paradox Sports. Marmot gave away free gear and shared an offer: for every purchase, they donated 10% to Paradox Sports and gave the buyer a 10% discount.
The presentation was not about sales. It was about engaging with people. Through live video, Marmot told a story, connected with audiences, shared their meaningful purpose and made the viewers a part of the story by giving them an opportunity to help a nonprofit organization.
Another important conclusion of the Edelman study is that brands need to focus on storytelling and sharing, being sure to make consumers a part of the story.
Live interactive video is arguably one of the most effective storytelling channels available via the Web. Consumers become part of the story, because their interaction via live chat during a broadcast can help to shape the content and flow of the event.