In general, online African Americans are less well-off and spend less while shopping online compared with other online consumers. However, several factors point to the opportunity of further engaging with this group. Our Technographics® research shows that African American online users are much less annoyed by the amount of advertising today compared with online users overall: 60% of the US online population agree that they are annoyed by advertising, versus only 39% of online African Americans. Furthermore, ads inform the purchase decisions that online African Americans make: Nearly twice as many African American online users (27%) as overall online users (15%) agree that ads help them decide what to buy.
Furthermore, 24% of online African Americans recognize that owning the best brand is important to them, compared with only 16% of all US online consumers. Therefore, brand reputation is a much bigger influencer in their purchase decision process.
"Hello World!" is the well-known statement Tiger Woods used to introduce himself to professional golf in 1996. Since that introduction, Woods has become the biggest individual brand since Michael Jordan earning over $1 billion in total endorsement and tournament earnings. Now, the Woods' brand is tarnished due to his infidelity - yet the Woods' brand is resilient and customers are still loyal. According to Forbes' "Fab 40" list, the "Tiger Woods" brand still holds top spot among athletes with a brand value of $82 million.
What does this have to do with marketing leadership, Forrester and me..."the new guy"?
I officially joined the marketing leadership team yesterday. April Fool's Day is not the preferred starting date for any job, but I made it through without any surprises from HR or my new boss, David Cooperstein. In my new role, I am focusing on loyalty and customer value among other topics. I will explore how marketing leaders are evolving strategies around loyalty and customer value as social media and emerging brand platforms create opportunities & challenges.