Consumers see themselves as brands
|15 May 2012 9:56 BST||Back|
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Research reveals that 20% of consumers believe they are brands in their own right (BIOR) and these BIORS have looser purse strings.
Research by customer intelligence agency Indicia reveals that these BIORS understand the value of using social media to communicate their preferences and data in the hope of attracting targeted offers from brands.
BIORS have looser purse strings. BIORS out-perform non-BIORS in six of 11 spend brackets (e.g. £751-£1,000) particularly in the higher spend categories of over £1,000 per month.
More men (23%) consider themselves a BIOR compared to just 16% of women, with almost a third of BIORs aged between 18 and 34.
Those in the West Midlands are the most likely to use social networks to attract brands, swiftly followed by Londoners and Welsh consumers. Also, 15% of consumers responded that they are planning to become BIORs by 2013.
Over two-thirds of consumers (67%) do not believe that brands have spotted the emergence of BIORS, however 64% of people who say they are a BIOR have much higher confidence in brands and think that they are receiving offers as a direct result of marketing themselves.
“We’ve seen the rise of savvy shoppers, but this is the next generation,” explains Ian Stockley, managing director at Indicia. “Historically, it was the brands that had the control, pushing their messages and products; but times are changing.
“Consumers are seeing the value of social media in putting themselves in the shop window for brands to target them with highly targeted offers.
“Marketers who are yet to identify the trend for consumers to become BIORs as social media becomes a greater part of our lives risk missing out on a growing audience with money to spend.”
The study of 1,000 consumers was carried out by One Poll on behalf of Indicia in March 2012.