The Data & Marketing Association (DMA) has published its latest report in the Customer Engagement series, ‘Acquisition and the Consumer Mindset 2021’.
According to the figures, 37% of consumers claim that they find advertising that does a good job at representing diversity more engaging. This figure rises among younger, more affluent and London-based consumers.
For example, 55% of consumers aged 25-34, 51% of consumers in the highest income bracket, and 46% of consumers based in London agree that diversity in advertising drives better engagement.
Diversity in advertising is also a key driver of customer acquisition, with almost one in four claiming that they are more likely to buy from brands that do a good job representing diversity in their advertising.
Again, the agreement is higher among young and more affluent consumers. However, it is notable that agreement is highest among 25-34s (59%), rather than the youngest aged group of 16-24s (47%).
“The DMA champions putting customers at the heart of everything businesses do. For this to happen, it is fundamental that marketing campaigns and the industry we represent, are both representative of the diverse audiences that they communicate with. These values are clearly mirrored by many consumers. Our latest findings highlight the importance of diversity to customer engagement and acquisition. Ensuring that brand marketing represents the diversity of UK society is a clear route to successful customer acquisition in 2021,” said Tim Bond, Director of Insight at the DMA.
Values important to consumers
The majority of consumers surveyed (80%) state that they expect brands to offer good value for money as standard (rising to 92% for those aged 65 or over). But to be encouraged to try something new, consumers are looking for more than just good value.
Looking ahead to the coming decade, the data points to a second factor that will sit alongside value-led shopping in shaping expectations and behaviour towards brand choice: Values.
This values-led shopping, where consumers can shop through the lens of the values that matter most to them personally, already holds strong appeal. Nearly half of consumers (45%) would like to be able to filter products by the values that matter to them when shopping online, such as sustainability or localism. Interest also rises to almost two-thirds (62%) for consumers aged 25-34.
These findings indicate that value plus values could be the core paradigm that shapes shopping and acquisition behaviour in the 2020s. There have been some interesting shifts in consumers behaviour and acceleration of some of the trends the DMA have been tracking since it first started conducting this research.
Bond continues: “The pandemic has brought about the rapid rise of a new paradigm brands must be aware of, where value must also be aligned with the right values. While functional reasons for choosing a brand – like discounts, a cheaper price and free trials – should naturally be highlighted, these should be treated as hygiene factors with more emotional and values-based considerations brought to the forefront. Brands should seek to implement options that allow consumers to shop by personal values. This could take the form of values filters for online shopping or dedicated in-store space for specific values for in-store shopping.”
To find out more about the research, visit: https://dma.org.uk/research/customer-engagement-acquisition-and-the-consumer-mindset-2021