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â–¶ Socially Attuned Consumers Wield High Influence: One in five consumers polled for the 2012 American Express Global Customer Service Barometer said they’ve used social media at least once in the last year to obtain a customer service response, and this group of consumers is extremely engaged and vocal. Study highlights include:
• Consumers who have used social media for service wield the greatest amount of influence, telling three times as many people about positive service experiences compared to the general population.
• Social media for service consumers spend 21% more with companies that deliver great service—compared to 13% on average.
• These consumers feel companies are getting better at social media service: 60% feel that companies have improved their response times through social media over the past year.
• Consumers who have used social media for customer service do it for a number of reasons, including: seeking an actual response from a company about a service issue (50%); praising a company for a great service experience (48%); sharing information about your service experience with a wider audience (47%); and venting frustration about a poor service experience (46%).
Source: American Express
â–¶ As a Brand, Coke Is It:
CoreBrand released its fifth annual Brand Power Top 100 Rankings Report, which ranks 100 corporate brands in terms of market reputation and awareness, and Coca-Cola tops the list, as it has since 2008. The CoreBrand Brand Power rankings are a measure of size (familiarity) and quality (favorability), familiarity representing whether or not a survey respondent is familiar with the brand, and favorability representing the brand’s overall reputation, perception of management and investment potential. The top 10 brands are as follows:
1. Coca-Cola
2. Hershey
3. Harley- Davidson
4. Campbell Soup
5. Kellogg
6. Johnson & Johnson
7. Bayer
8. Hallmark Cards
9. UPS
10. Colgate-Palmolive
Among the key findings (with movement in rank from 2010 to 2011 in parentheses):
• The retail industry has seen lots of movement over the past three years, as consumers shift to a more value-based purchasing mindset.The growth in the brand strength of Walmart (+15), Lowe’s (+5), Home Depot (+10), The Gap (+7), Kohl’s (+25) and J.C. Penney (+22) shows that consumers are still spending money but are looking to make their dollars go further.
• Apple (+20) leads the technology sector, going from the 53rd to 33rd position; Microsoft (+14) and Dell (+14) each grew equally over the past year; while IBM (-18) has declined since 2010.
• Nestlé has improved the most in the food industry, rising 32 ranks. Sara Lee (+27) and Kraft (+21) have also shown strong growth since 2008.
Source: CoreBrand