Innovation Affects How Consumers View Your Brand
While the general public feels that innovation is essential, most people asked said that these advances are happening too quickly, according to a recent survey from Edelman. The resulting "Innovation and the Earned Brand" study provides in-depth perspectives from global consumers about innovation and its impact on brand reputation. On the positive side, customers said innovation "opens the human spirit," and can often provide needed reassurance or even inspiration. In a more critical sense, however, survey respondents believe that companies are primarily interested in increasing revenues from innovation, rather than improving society. They also are very concerned about innovation's impact on privacy, security and the environment. As for effective corporate responses? Edelman strongly advises companies to inform consumers about their actions in a transparent way; to exude a sense of higher character that audiences can buy into; and to do something "different" that brings positive attention to their brands. "Brands have to power peer conversations with platforms and meaningful context and understand that the right to innovate is earned," said Michelle Hutton, global practice chair of consumer marketing for Edelman. "The new model of marketing is not messaging, it's behavior." The findings also shed light on how consumers form positive and negative impressions of brands, and we've included some of those here. An estimated 10,000 global consumers took part in the research.