This psychological quirk makes it hard for them to know whether the products they purchase or the services they invest in will satisfy them—and it makes it that much harder for advertisers.
After all, how do advertisers know when they should follow consumers’ lead?
So many shifts have taken place across the business landscape over the past few years, from prioritizing user reviews to shifting away from traditional TV, that advertisers are having trouble moving to where the puck is going, as Wayne Gretzky would say.
Some advertisers are reluctant to follow consumers’ shifts, not knowing whether these are permanent changes or temporary whims.
When my team talks to advertisers, one of the biggest concerns we hear about trying new marketing outlets or shifting ad spend is the volume of options they have to navigate, learn about and quantify.
The new outlet can underperform, and the old outlet’s ROI drivers are gone.