MEYOCKS RELEASES NEW NATIONAL SURVEY: CONSUMERS WANT BRANDS TO MENTOR THEM
Apr. 21, 2021
Source: Meyocks news release
West Des Moines, IA - The vast majority of today's consumers - especially those from younger generations - say brands should inspire, advocate and provide value-added information.
A national Meyocks consumer survey of 1,523 Americans shows widespread support for "mentor branding." With this approach, businesses differentiate themselves by taking their brand a step further - mentoring customers, educating and advocating for them, and showing them how to make their lives better.
"Mentor branding is an opportunity for businesses to create stronger bonds with customers by inspiring them, advocating on their behalf and providing value-added information," said Doug Jeske, president of Meyocks, a West Des Moines branding and marketing agency.
The Meyocks national consumer survey showed:
• 88% of consumers say brands should provide valued-added information to their customers.
• 75% of consumers believe brands should work to inspire customers.
• % of consumers think brands should advocate for their customers.
More specifically, consumers said they want brands to provide information on how to get the most out of a product or service (64%), inspiration on how to improve their personal lives (47%) and advocacy for the environment (46%).
The way consumers feel about a brand can impact their spending habits. The survey showed 56% of consumers said they would stop buying or boycott a brand that does not align with their beliefs. In addition, 57% of consumers said they are willing to pay more for a brand that advocates for something they believe in or feel strongly about.
"Consumers feel strongly that brands should demonstrate mentorship characteristics," Jeske said. "We've found that brands that rate high in these characteristics enjoy faster revenue growth."
While an overall majority of consumers support "mentor branding," the survey showed younger generations are even more likely to choose brands that inspire and advocate for them. This includes both millennials and Generation Z, born between 1981 and 2012.
The Meyocks survey showed:
• 91% of millennials said brands should provide value-added information.
• 76% of millennials said they are willing to pay more for a brand that advocates for something they believe in or feel strongly about.
• 90% of Generation Z survey participants said brands should provide value-added information, inspire and advocate.
• 74% of Generation Z said they are willing to pay more for a brand that advocates for something they believe in or feel strongly about.
The Meyocks consumer survey was conducted nationwide via an online panel with 1,523 Americans age 18 and over. For results based on the total sample of American adults, the margin of error is ±3 percentage points at a 95% confidence level.
Meyocks, based in West Des Moines, Iowa, is a full-service branding and marketing agency founded in 1984 that shapes marketplace meaning for food, agriculture, health and mentor brands. For more information or to download the survey results, visit meyocks.com.