Future of Consumerism - MITX FutureM Conference 2010 - AMP Agency Presentation
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A presentation on how consumers' consumptive behavioral patterns are changing, necessitating change in the way modern marketers work. The sales funnel is now antiquated, and the customer decision journey has subsumed its place as the standard framework for thinking about consumer behavior.
Transcript of Future of Consumerism - MITX FutureM Conference 2010 - AMP Agency Presentation
#futureM#buybuy
AMP Agency: Inspired
AMP Agency is a full service agency that’s inspired by audience insights
to produce creative, results‐oriented marketing solutions for our clients.
EXPERIENTIAL MARKETING
We are inspired by your consumer. How they make purchases and interact with brands. From these key insights, our team utilizes the latest techniques to create memorable engagements that naturally bring your brand into your consumers’ lives.
DIGITAL MARKETING
AMP knows digital marketing. We’ve brought together a team of pioneers who have been doing it since 1993 – the best in breed across search, media, IPR, social, interactive and mobile. And actually do it all–in house.
SHOPPER MARKETING
AMP’s shopper marketing professionals align consumer insights with retailer intelligence, seamlessly integrating digital to in store purchase. Our plans are strategically created to align with your shoppers path to purchase from pre‐purchase rituals, to in‐store engagement and post purchase reflection and loyalty.
AMP Agency’s proprietary series of studies on today’s most relevant topics. This includes a sneak peak at what is to come from our latest AMPlified Study titled Behind the Buy. A nationwide online survey with over 500 consumers to understand and quantify:
– How much research they doing
– Where they are researching purchase decisions
– Which factors have the most influence in the decision process
AMPlified Study
AMP Insights Lab is AMP Agency’s team of doctors, scientists and doctor‐scientists dedicated to predicting the future. Along the way, they will also look at the intersection of consumerism and technology; helping brands and marketers make sense of all things tech and trend. The Lab’s goal is to make the process of learning about and implementing technology as simple and straightforward as possible.
AMP Insights Lab
Information Exposure
Source: How much information? Report on American Consumers, University of California, at San Diego, 2009
“I always do research”
39%
64%
36%31%
44%
Fashion Consumer Electronics
Food & Beverage Health & Beauty Baby
Source: AMPlified 2010: Behind the BuyQ: What makes you decide you need to do research in the ___ category? Check all that apply. Answer shown is “I always do research.”
Information that has a heavy influence
29%
32%
32%
35%
44%
61%
62%
65%
Versitality in Use
Durability Reviews
Trends
Funcationality
Consumer Reviews
Quality
Fit
Cost Comparison
Fashion
29%
35%
35%
37%
37%
39%
52%
54%
56%
Versatility in Use
Durability Reviews
Latest Technology
Trends
Funcationality Reviews
Consumer Reviews
Cost Comparison
Quality
Performance
Consumer Electronics
23%
26%
28%
34%
38%
39%
52%
54%
61%
Versatility in Use
Funcationality
Trends
Natural / Organic
Consumer Reviews
Durability Reviews
Cost Comparison
Taste
Quality
Food & Beverage
Source: AMPlified 2010: Behind the BuyQ: What degree of influence do the following have on your purchase decision? A: Heavy Influence
Information that has a heavy influence
37%
39%
39%
41%
41%
47%
48%
54%
55%
68%
Natural / Organic
Versatility in Use
Funcationality Reviews
Trends
Environmentally Friendly
Consumer Reviews
Durability Reviews
Cost Comparison
Performance
Quality
Baby
24%
30%
30%
35%
37%
46%
47%
47%
64%
Natural / Organic
Trends
Environmentally Friendly
Funcationality Reives
Cost Comparison
Versatility in Use
Consumer Reviews
Durability Reviews
Quality
Health & Beauty
Source: AMPlified 2010: Behind the BuyQ: What degree of influence do the following have on your purchase decision? A: Heavy Influence
Source: AMPlified 2010: Behind the BuyQ: Before purchasing a product in the ___ category, what kind of research do you do? Check all that apply.
Path to Purchase Impact
The traditional path
Awareness
Consideration
Purchase
Loyalty
Evangelism
The start of a new path
Need State
Passive ActivePurchase
Need State
The start of a new path
Need State
Passive ActivePurchase
Need State
“I need a camera”
DSLRsPoint and Shoot25x10xHD Ready
“I guess I won’t use it that much”
Point and ShootSub $200
The evolving of path
McKinsey, 2010The Consumer Decision Journey
Information Sharing & Creation
Information proliferation
Data Origin Data Proliferation
Moms
Teens
Fashionistas
Spanish‐Speaking
Information gathering & engagement
Quick
Personal Commercial
In‐depthStart
Finish
Information gathering & engagement
Quick
Personal Commercial
In‐depth
Most Corporate Websites
Most Retailer Websites
Text/PicMessaging
Haul Videos
Blog Reviews
Information gathering & engagement
Quick
Personal Commercial
In‐depth
Most Corporate Websites
Most Retailer Websites
Text/PicMessaging
Haul Videos
Blog Reviews
Opportunity
To learn more about haul videos
Semi‐future engagement #1
• Personal/Commercial and Quick(er)
Click here
Semi‐future engagement #2
• Quick and Personal
Semi‐future engagement #2
• Quick and Personal
Actual‐future engagement #3
• Quick and Commercial
To learn more about SixthSense
Click here
The good stuff starts at the 5:00 mark
The Future
Our Panel
Jason Harty, Director of Field Marketing, Pretzel Crisps
Albert Chen, Account Executive, Google
Ken Fischer, Founder & Editor, Ars Technica
Bill Gianoukos, VP Product Development, Media Friends
