Like alchemists poring over how to turn lead into gold, brands are constantly pondering how to capture consumers’ interest and turn that curiosity into at least a purchase. To help answer this question, global media agency Universal McCann (UM) recently gave a presentation what piques the Chinese consumers’ “curiosity” and how it influences their purchase decisions.
At the Festival of Media Global in Rome earlier this month, UM global chief performance officer Huw Griffiths presented a study titled “The Power of Curiosity” on how Chinese consumer curiosity can translate into purchase decisions. “Curiosity” is defined by the study as the willingness to utilize new mediums to learn more about the brands. According to Chinese marketing news site Madison Boom, the findings showed that 98 percent of Chinese consumers frequently use the internet to search for information on brands, which is a higher rate than 14 other markets in the study. In addition to search, nearly 90 percent of Chinese consumers indicate that online recommendations and advertisements strongly influence their purchase decisions.
According to the article, UM global chief performance officer Huw Griffiths said that brands that manage to create “curiosity” in its customers see a 56 percent increase in the likeliness of purchase. This “curiosity” creates a ripple effect, and increases the likeliness by 42 percent that customers will talk about the brand with others. The most important thing with Chinese luxury consumers, says Griffiths, is not merely the exquisiteness of the product itself, but that Chinese consumers pass on the brand image to others.
The report says that the high level of restrictions on Chinese public media, such as on TV or mainstream social media sites, actually creates a great deal of curiosity among Chinese consumers and encourages them to adopt new channels to seek out information. With Chinese smart phone ownership at 91 percent, Griffiths said Chinese consumers regularly and willing download new applications, a rate much higher than that of other countries.