CONSUMER SENTIMENTS
95 % Of Purchasing Decisions Are Subconscious !
By Yannick Lefang
How people feel provides more insights into why they buy one product over another . Not the reason they say they buy or like your product . As marketers try to develop brand loyalty and maximize customer engagement , they should look at the subconscious mind of the consumers .
According to Harvard professor Gerald Zaltman , purchase decisions are directly related to the subconscious mind . In Zaltman ’ s book , “ How Customers Think : Essential Insights into the Mind of the Market ,” the professor reveals many exciting ideas that can be helpful to marketers and brands .
Contrary to popular belief , consumers aren ’ t as savvy or rationale as they might like to believe . For example , while many consumers report comparing multiple competing brands and price points when evaluating a purchasing decision , Zaltman ’ s research indicates that this is not actually the case . Also , by studying consumer ’ s unconscious physical reactions , Zaltman found that what they really think or feel often contradicts what they say .
Why aren ’ t consumers truthful about their purchasing thoughts and feelings ?
Well , a big reason is that they are driven by unconscious urges , the biggest of which is emotion . Emotion is what really drives the purchasing behaviors , and also , decision making in general . This is where consumer sentiment data comes in handy .
Consumer sentiment is a survey-based measure of how consumers are thinking and feeling about economic conditions as well as their own financial situation and outlook . Brands can access consumer sentiment data to track how their customers feel about their brand , products and services , and customer relations .
Measuring and tracking consumer sentiment over time and across consumer segments is one of the cornerstone components of sound decision intelligence for brands . By effectively gauging consumer attitudes , behaviors and beliefs , brands can craft messages , reach its target audience , and take actions to strengthen customers ’ affinity , loyalty , and perceptions of your brand in ways that can drive stronger business results .
Consumer sentiment affects much more than point of sale transactions . Shifts in consumer sentiment typically ripple through every level of the broader supply
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How people feel provides more insights into why they buy one product over another . Not the reason they say they buy or like your product . As marketers try to develop brand loyalty and maximize customer engagement , they should look at the subconscious mind of the consumers . chain . Manufacturers , retailers , distributors , marketers , and more can all benefit from gaining deeper insights into their consumers and adjusting their strategies in response .
Awareness and analysis of ongoing consumer sentiment indexes blended with surveys of consumers and other ways of gathering feedback can give your organization an edge through better understanding of your customers .
What is consumer sentiment ?
Consumer sentiment - often used interchangeably with consumer confidence - assesses how consumers as a collective whole are feeling about the economy at a certain point and time , as well as their outlook for the future .
Consumer sentiment can be measured in a range of ways . At the macro level , consumer sentiment is one of several key economic indicators that go into an ongoing assessment of the state of the economy in the country .
At the micro level , businesses and brands use consumer sentiment data to get a snapshot of how their target markets or audiences are thinking and feeling about the overall economy and business conditions , as well as their views on specific trends , products and services .
By analyzing both the overarching consumer sentiment with more targeted market research ( deep dive ) on how customers and prospects are feeling , companies and brands are better equipped to adapt to current conditions as well as make any necessary course corrections based on how consumer
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