Take more time to understand us: consumers to companies

Survey shows only 20% of Singaporean consumers think companies are genuinely interested in them.

The June survey of 506 customers by Alterian revealed that 85% of surveyed consumers agree that if companies took more time to understand their needs it would have a positive impact, and 91% would then be more interested in the opportunity to get involved with companies’ products and services. Only 20% of Singaporean consumers think companies are genuinely interested in them, with consumer trust said to be at an all-time low.

“The report highlights that the majority of marketers are simply not hitting the right note with their target audience,” said David Eldridge, founder and CEO at Alterian.

“Consumer trust is at an all-time low. What we are witnessing is an era of individualisation. It is no longer adequate to adopt a strategy of mass broadcast and one-way conversations. Brands should be trying to understand individuals rather than focusing on siloed communication channels,” he added.

The survey showed that 90% of respondents use social media with 58% stating that they use the internet when it comes to comparing products and services before purchasing. In addition, 78% of surveyed consumers approved of companies communicating with them via social media channels.

Eldridge explained, “To know and communicate to individuals, to a specific individual, should be the strategic and tactical goal of all brands and organisations. This will present the number one marketing and wider business challenge over the coming decade.”