A company’s brand values and overall image influence 55% of consumers when they are deciding whether to buy from them. That’s according to a new study conducted by customer reviews platform Feefo.
Based on a survey of 2,000 UK adults, the study measured the way people think and behave while making purchases online. The research asked a number of questions based around what makes people tick when purchasing via eCommerce, from pre-purchase through to post-purchase. Variables evaluated by the survey included the key drivers behind the choice of company and the factors that would cause them to walk away from their cart.
As well as brand values, 28% of consumers were found to favour product quality over factors such as the image of the item or whether the purchase will impress others. Although a fair price was still an important consideration to more than three-quarters of buyers. According to Feefo’s research, 62% of people consider themselves more balanced, cautious and conservative when buying online, which may explain why brand values are considered so important.
In fact, the survey suggested that brand loyalty was easily wavered, with almost a third of consumers suggesting that they would switch to a rival after just a single bad experience. Furthermore, 64% said they trusted the comments left by other consumers on review websites, particularly when it was a closed review platform. This implies that the strength and consistency of brand values are more important than ever before.
Commenting on the results of the study, Feefo Head of Digital Richard Tank highlighted the importance of building a relationship with online customers by delivering a consistent brand image.
‘Today’s digital landscape is ever-changing and businesses have to meet the needs of their customers across the whole purchase journey in order to maintain sales and brand loyalty. Consumer confidence and trust is essential to developing an online business that grows, and lasts.’
Tank added that brands should take advantage of the technology available to learn from customers and develop tailored experiences that help to build trust – using brand values to build customer relationships, demonstrate trust and deliver a positive customer experience.
‘Brands small and large must do everything they can to build relationships with their customers, to ensure they keep coming back for more,’ he added. ‘Listening, learning and developing more personalised customer experiences is key to long term success. Technology as an enabler, must be fully utilised in order for online businesses to achieve this.’