Further evidence of the shift occurring to “pull” vs. “push” marketing and the integration of insight gathering into the core marketing strategy. Inherent in this switch is the idea of engaging consumers in the feedback and innovation process, functions traditionally considered to be more research specific applications. Frank Cooper III, chief consumer engagement officer for PepsiCo’s US beverage arm, states this new approach clearly:
Stimulating online and offline conversations with, and between, brand advocates can help encourage positive word of mouth, a currency that is always at a premium in the FMCG sector.
PepsiCo estimates that 90% of shoppers place the most trust in recommendations from sources like friends and family, while 70% have a similar confidence in user-generated reviews on the web.
This philosophy is being put to practical use through MROCs, social media monitoring, and other approaches that are reshaping the world of global MR. My bet is that these advances will continue to redefine the industry in the years to come at a much faster pace than any of us suspect!