New Report Outlines Trends Driving Marketers to Adopt More Open Models for Product Development, Consumer Insights and Engagement & Offers Best Practices for Brands
New York, NY – Crowdtap, the People-Powered Marketing Platform, has released a new report that explores marketing’s increasingly ad-free future and outlines best practices for brands vying to move to more consumer-centric models.
More than 200 million people worldwide are utilizing some form of ad-blocking software, representing a 41 percent growth year-over year (Source: Adobe & PageFair). Yet, as consumers are increasingly ignoring, skipping and blocking ads, they are sharing their own experiences with brands in social media.
While traditional forms of advertising are failing to resonate with Millennials and the generations that follow, younger consumers value brands more than their predecessors. In fact, they are the most brand loyal generation (Source: Elite Daily & Crowdtwist). The challenge for marketers: reaching consumers and building enduring brands in an increasingly ad-averse environment.
KEY TAKEAWAYS
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With ad-blocking on the rise, marketers should recognize the opportunity that lies on the flip-side of this trend: Consumers are capturing, curating and sharing more content than ever before – and this includes conversations about brands.
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Word-of-mouth continues to be the most effective marketing channel: A multi-brand study found that a word-of-mouth impression drives at least 5X the sales as a paid media impression.
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The key to building a brand in the digital age is building relevance. Per a study of 2,000 Millennials, the best way for brands to be relevant is to be willing to change and adapt based on consumer feedback.
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Measuring the impact of consumer-centric marketing efforts requires a new approach. Brands should consider the added value of quicker insights and repurposable user-generated content as they weigh the full impact of their programs.
“Marketers are well aware that the media landscape has changed. It’s more complex, fragmented and – most important – democratic than ever before,” said Sean Foster, CEO of Crowdtap. “The next logical step is to put this mindset into action by making the operational and strategic shifts necessary to adopt a people-powered model.”
Crowdtap’s “Marketing Beyond the Impression” report can be found here.
About Crowdtap
Crowdtap connects brands with people to make marketing more effective. Crowdtap’s People-Powered Marketing Platform combines community and technology to generate agile brand research, authentic peer recommendations and influential brand storytelling at-scale. We do this by building passionate crowds of people to share their ideas, opinions and stories with brands in social media.
In 2014, Crowdtap was named one of the 100 Most Promising Companies in America by Forbes and the No. 54 fastest-growing private company in the Inc. 500 List. The company has been ranked one of the Top 10 Places to Work in Marketing & Advertising by Fortune, the No. 3 Best Place to Work in New York by Crain’s, and the No. 6 Best Tech Company to Work For by Mashable.
With a growing community of passionate members, Crowdtap works with leading brands including General Mills, Heineken, Kraft Foods, P&G, Verizon, Walmart and Yum Brands.
Headquartered in New York, Crowdtap has raised $15 million through the Foundry Group, Tribeca Venture Partners, Alta Communications and The Mustang Group.
Visit corp.crowdtap.com for more information.
