Nielsen, a renowned leader in audience analytics, has unveiled findings from its 2023 Consumer Survey Report that pose significant challenges for marketers. The survey, which involved 3,000 U.S. consumers, delved into perceptions of macroeconomic trends, platform preferences, and attitudes towards advertisements and influencers.
The report reveals a substantial inclination towards ad avoidance, with 64% of consumers actively taking steps to dodge ads on free, ad-supported video services. Furthermore, 59% of respondents are likely to opt for streaming services offering ad-free experiences.
This trend of ad avoidance, a long-standing hurdle for marketers, is now compounded by the pressing issue of inflation. An overwhelming 95% of those surveyed acknowledge the impact of inflation on their purchasing power, presenting a dual challenge for marketers in engaging and influencing their audience.
Despite these challenges, the study suggests a silver lining in influencer marketing. A significant 59% of consumers are more likely to purchase products endorsed by influencers they follow, highlighting the growing importance of influencer partnerships in maintaining consumer engagement, especially during economic downturns.
Arica McKinnon, Vice President, Commercial Growth and Strategy, Nielsen said “With rising inflation concerns and a growing number of consumers avoiding ads, it’s imperative that marketers focus on the most impactful campaigns. To address these concerns, marketers should look to leverage influencer networks and personalized marketing tactics, while also taking into account consumer behavior, to optimize messages and campaigns that resonate.”.
Personalization in marketing is another area resonating with consumers. According to the report, 68% are more inclined to make a purchase when brands engage with them personally. Additionally, 63% are likely to buy a product if a brand provides valuable content beyond the product itself, such as informative blog posts.
Social media ads continue to be a potent tool for marketers, with over half (55%) of consumers considering new brands or products based on social media advertisements. This indicates the ongoing relevance of social media platforms in capturing consumer attention and driving decision-making.
The Nielsen 2023 Consumer Survey Report highlights the evolving landscape of consumer behavior and the emerging challenges for marketers. While ad avoidance and economic concerns like inflation pose hurdles, they also drive innovation in marketing strategies, emphasizing the value of influencer partnerships, personalized engagement, and content-rich approaches.