iHeartMedia and Malcolm Gladwell’s Pushkin Industries Reveal Growing Consumer-Marketer Disconnect in Landmark Report
2023年9月14日 - 6:00AM
ビジネスワイヤ(英語)
Marketers sometimes chase trends that consumers
don’t care about: 50% of consumers have never heard of ‘Aperol
Spritz’ compared to only 3% of marketers who haven’t
For consumers, the hardest two habits to give
up are snacks between meals and their favorite podcast, while for
marketers it’s snacks and online shopping
Giving up social media like Instagram is twice
as hard for marketers as it is for consumers; for consumers, it’s
twice as hard to give up their favorite podcasts
Report released to marketers at iHeartMedia’s
AudioCon 23
iHeartMedia, the No. 1 audio company in the United States which
reaches nine out of 10 Americans every month, and author and
podcaster Malcolm Gladwell’s Pushkin Industries, today released the
results of a major study conducted by Morning Consult and
Advertiser Perceptions, that explores the growing disparity between
consumer values and behaviors and marketing priorities in the U.S.
The report underscores the increasing urgency for marketers to
reset and realign their marketing and media plans with American
consumers to ensure the success of campaigns in an increasingly
polarized post-COVID economy.
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the full release here:
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“This research is a reminder of how different we marketers are
from today’s consumers, especially post-pandemic. Based on these
results, we need to challenge ourselves as we build marketing and
media plans to be sure we use real consumer data and not just trust
our instincts and personal experiences. These personal biases are
too detached from the consumers most marketers are trying to
engage, and which are often behind major marketing misfires,” said
Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “This study aims
to level-set the conversation to benefit both our audiences and
advertisers.”
“This report illustrates a cultural chasm between what consumers
hold dear and the compass by which marketers navigate. It's high
time that marketers acknowledge that chasing the new and shiny
isn't always the path to hearts and minds,” said Gladwell. “There’s
nothing more critical to understanding what people want than
looking beyond your personal perspective.”
Key findings from the report included:
- Marketers sometimes chase trends Consumers don’t care about:
Is a bias toward shiny new things a problem? The research
showed that marketers often chase the ‘shiny and new’ at the
expense of reflecting the values and priorities of real consumers.
For example:
- While 40% of Consumers report that they’ve never heard of
NFTs, that number drops to 0% for Marketers.
- For Lifestyle items the gap widens, as 50% of all Consumers
responded that they’ve never heard of an Aperol Spritz, and
only 3% of Marketers reported unfamiliarity.
- 33% of Consumers have never heard of ‘charcuterie,’
while ALL Marketers are familiar with it.
- 62% of Consumers have never heard of the TV show
“Succession,” while less than 5% of Marketers have never heard
of “Succession.”
- Almost 1/3 of Consumers have never heard of pickleball,
while ALL Marketers have heard of pickleball.
- Snacking and Podcasting: The two things American Consumers
won’t give up: Podcasting and snacking tied for No. 1 for
Consumers’ hardest habits to give up – while the hardest thing for
Marketers to give up was online shopping.
- Twice as hard to give up -- Favorite Podcasts vs. Social
Media: Giving up social media like Instagram is twice as hard
for Marketers as it is for Consumers; for Consumers, it’s twice as
hard to give up their favorite podcasts.
- “Cool” vs. “Cringe” looks different on Main Street vs.
Madison Avenue, with ‘traditional American’ activities reported as
“Cool” for Consumers: The Top 2 activities that scored the
highest as “Cool” for Consumers were traveling around the U.S.
and BBQs, while travel to Europe and going to the gym
were ranked Top 2 for “Cool” for Marketers. And among the top
choices for “Cringe” for Consumers were NFTs and being vegan or
vegetarian, while the top choices for “Cringe” for Marketers
were making a recipe using cottage cheese and watching NCIS,
both of which consumers put in the “Cool” category. Additionally,
1/3 of both of Marketers and Consumers think radio is
“Cool.”
- Electric Vehicles: Marketers are 4 times more likely
than Consumers to drive an EV.
- Consumers are motivated by friends and family, Marketers are
motivated by fortune, fame and fear: When it comes to
motivation, Consumers’ top two motivators are family and friends.
Consumers are motivated by family more than twice as much as
Marketers are, and by friends almost twice as much as Marketers,
whereas Marketers are motivated by fortune more than twice as much
as Consumers, and by fame almost three times as much. Additionally,
Marketers are three times as motivated by fear as Consumers.
- Attitudinal differences:
- 80% of Marketers say my career is a major part of my
identity while only 42% of Consumers said the same.
- 66% of Marketers are excited about the potential AI will
unlock for society, while only 39% of Consumers are; however,
63% of Consumers and 68% of Marketers are scared of the threats
AI poses to jobs in the future.
- 77% of Marketers are optimistic about their financials;
only 54% of Consumers are.
- Despite prioritizing similar values including family, health
and safety, Marketers miss key consumer concerns: Consumers
value religion, the military and freedom of speech to a much
greater extent than Marketers do.
- Both Consumers and Marketers want to hear from real people,
not influencers: Both Consumers and Marketers say that they
hear from too many influencers – and not enough real people
– in marketing.
- And different spending priorities means missed marketing
opportunities: When given a hypothetical $1,000 to spend,
Marketers reported they would spend the money on travel,
whereas Consumers would rather spend that money paying off
existing bills and debt.
- The Biggest Thing Consumers and Marketers Agree On: Both
Consumers and Marketers agreed that if they had an extra hour,
they’d use it for sleep.
The findings were presented by Conal Byrne, CEO of iHeartMedia’s
Digital Audio Group, and author and podcaster Malcolm Gladwell at
iHeartMedia’s AudioCon 2023 today, September 13 at 4 p.m. ET in New
York City at iHeartMedia’s HQ.
Methodology:
The Consumer responses were collected via a poll by Morning
Consult between August 8-10, 2023, among a sample of 2,206 adults.
The interviews were conducted online, and the data were weighted to
approximate a target sample of adults based on age, gender, race,
educational attainment, region, gender by age, and race by
educational attainment. Results from the full survey have a margin
of error of plus or minus 2 percentage points.
The Marketer responses were collected via a poll by Advertiser
Perceptions between August 14-21, 2023 among a sample of 200
Marketer and Agency contacts from The Advertiser Perceptions Ad
Pros Community and trusted third-party partners as needed. Our Ad
Pros Community represents the brands that are spending the most on
advertising and marketing in the U.S. We continuously update,
supplement and refine the community based on movement in the
market. The interviews were conducted online.
About iHeartMedia
iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media
company in America, reaching over 90% of Americans every month.
iHeart’s broadcast radio assets alone have more consumer reach in
the U.S. than any other media outlet; twice the reach of the next
largest broadcast radio company; and over four times the ad-enabled
reach of the largest digital only audio service. iHeart is the
largest podcast publisher according to Podtrac, with more downloads
than the next two podcast publishers combined and has the number
one social footprint among audio players, with seven times more
followers than the next audio media brand, and the only fully
integrated audio ad tech solution across broadcast, streaming and
podcasts. The company continues to leverage its strong audience
connection and unparalleled consumer reach to build new platforms,
products and services. Visit iHeartMedia.com for more company
information.
About Pushkin Industries
Pushkin Industries is the audio production company co-founded by
Malcolm Gladwell and Jacob Weisberg that is home to chart-topping
podcasts such: Against the Rules, hosted by bestselling author and
journalist Michael Lewis; Cautionary Tales from Financial Times
columnist Tim Harford; and The Happiness Lab with Dr. Laurie
Santos. Pushkin is also home to Gladwell’s Revisionist History and,
launching in October, McCartney: A Life in Lyrics hosted by Paul
McCartney and Paul Muldoon, which is a co-production with
iHeartMedia and MPL. Pushkin publishes and sells audiobooks
including So Many Steves by Steve Martin and Adam Gopnik and The
Deadline by Jill Lepore. Learn more at pushkin.fm or follow us on X
@pushkinpods.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230913388337/en/
For iHeartMedia Angel Aristone angelaristone@iheartmedia.com
For Pushkin Industries Isabella Narvaez
isabella.narvaez@pushkin.fm
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