A couple of things that really stood out for us as we compiled this graphic: 85% of consumers choose an known brand over an unknown brand when making an initial purchase - We thought that price or packaging would have a bigger sway, but apparently brand awareness trumps either of those. 60% of consumers consider it very risky to buy a brand that they have never heard of - It's not surprising how powerful familiarity is, but what makes this stat interesting is that mere familiarity makes people think that something is less risky, even though more than a few familiar things over the last several decades (like Enron stock or Ford Pintos from the early 1970s) have turned out to be very risky. 22% of social media users bought a brand because a friend liked or followed that brand - You may think this is low, but the fact that 1 out of 5 social media mentions directly influence a buying decision is huuuuuuuuuuge. If you've ever worked in marketing, you know how big this number is.
Blog
August 13, 2012