You may have noticed that we have recently updated our tagline and are now identifying ourselves as The Transaction Experts. Some of our stakeholders have asked why we have changed and how this new brand promise impacts what we do for our clients.
In a recent article in GreenBook, we have laid out the background behind this choice that we hope explains the reason for the shift.
This articulation of our brand promise is really an expression of the value we have been delivering to clients for decades, which is more relevant than ever today.
Since our inception over 50 years ago, we have been helping clients achieve what we believe is the most important moment in marketing: the moment in which all the hard work and expense pays off and when real tangible value is created. It is the moment in a consumer’s journey that culminates in a choice of your product that leads to a purchase transaction.
When the world of retail was almost exclusively analog, we focused on marketing value creation driven by shopper choice in brick-and-mortar retail at the physical shelf. And arguably we are the trusted and proven market leader, having amassed the world’s largest behavioral database and normative KPIs in this discipline, particularly as it relates to packaging.
As retail has changed to become decidedly digital, so too has our stack of evaluative products and solutions:
- We have expanded our portfolio to embrace the broadest of online retail contexts and expanded our database of KPIs to include behavioral influencers of purchase transactions at the digital e-commerce shelf as well.
- Through the application of cutting-edge AI based image recognition and other digital data science tools, plus the continued refinement of our behavioral framework, we are embracing the realities of the complex omnichannel retail environment that our clients’ marketing teams need to manage, at an ever-accelerating pace.
Why? Because wherever the transaction takes place, it will have been driven by a combination of marketing tactics that add up to the influence of consumer behavior in the moment of purchase.
The pandemic impacted marketing spend globally and pressures from inflation, supply chain difficulties, and geopolitical risk factors are still keeping brands cautious; increases in marketing spend are still below pre-pandemic levels.
But the percentage of revenue spent on marketing for virtually every company is still large with some estimates as high as 10%. Therefore, there is more pressure than ever that every dollar spent on marketing needs to deliver measurable value.
How is that value manifested?
As we look at how we serve our clients at Behaviorally to optimize the return on marketing investment, more and more we keep coming back to a quote that has been attributed to American automotive and business pioneer Henry Ford: “Nothing happens until someone sells something.”
The moment in which marketing value is created is the one in which a consumer actually selects your product and makes a purchase. Nothing tangibly matters until money changes hands and the consumer chooses you, your brand, your service, or your product. Whether that transaction is made online or in a brick-and-mortar physical store, we believe that the most important metric for predicting shopper marketing success is being selected in the purchase transaction.
Now more than ever, the most important thing an insights partner can deliver is a partnership that enables clients to seize that moment in which marketing leads to a transaction. We are confident that we have advantages over other firms to deliver on this promise for three reasons:
Behavior drives value
We are deeply immersed in the principles of behavior – its inducements and inhibitors. We understand how to drive value-creating behaviors across the holistic purchase journey to deliver successful transactions for our clients.
We are Digital First
Omnichannel retail creates challenges for our customers for which we are uniquely qualified to address. Exploiting the potential afforded by digital technology is a prerequisite for our success. Our digital product stack and unparalleled quality of advice defines and diagnoses behavioral barriers and benefits to allow marketers to create more valuable transactions.
The Best Team
Together, our team brings the experience, expertise, and passion that enable us to be the world’s number one expert in driving more valuable transactions. We work smarter defining tomorrow’s challenges today to create value for our clients, to realize success in the most important moment in marketing: the transaction.
So today, we go on record as being the insights partner most directly focused on helping clients in the most valuable moment in marketing, the moment in which tangible value is created. We are Behaviorally, The Transaction Experts!
Contact us today to discuss how we can practically apply this promise to your most critical marketing initiatives.
Alex Hunt is a recognized pioneer in the practical application of behavioral science to shopper marketing in order to help clients develop consumer experiences that drive business growth. Prior to his role as CEO of Behaviorally, Alex served as global CEO of PRS IN VIVO, having joined the firm in October 2018.
Before joining PRS IN VIVO, Alex spent a decade building System1 Research (formerly BrainJuicer). Latterly, leading client-facing teams across 14 global offices as well as serving as an Executive Director of the System1 Group PLC Board.