Source: Forbes, Jul 2012
The IBM Institute for Business Value found that 60-65% of business leaders who believe that consumers follow their brands on social media sites because they want to be a part of a community. Only 25-30% of consumers agree. The top reason consumers follow a brand? To get discounts – not exactly ideal for a company’s bottom line.
On top of trying too hard to engage with consumers via social media, marketers are generally pushing out too much information, causing people to over-think purchase decisions and making them more likely to change their minds about a product, be less confident in their choice and less likely remain loyal to the brand.
Simplify the decision-making process, so much so that consumers actually think less about the decision. Marketers can do that in three easy ways by helping consumers:
- Trust the information they receive
- Learn effectively without distraction
- Weigh options confidently
Not only is Decision Simplicity the number one driver of likelihood to buy, but the impact of simplifying purchase decisions for consumers is four times stronger than the favored marketing strategy of engagement.
In addition, CEB found that a 20 percent increase in Decision Simplicity results in a 96 percent increase in customer loyalty. It also results in brands being 86 percent more likely to be purchased and 115 percent more likely to be recommended to others.